Emerson Electric Co. $EMR Shares Sold by Eldred Rock Partners LLC

Key Points

• Eldred Rock Partners LLC reduced its holdings in Emerson Electric Co. by 5.0%, retaining 95,873 shares valued at $12.78 million, making it the firm's 9th largest position.
• Analysts have shown positive sentiment towards Emerson Electric, with Barclays upgrading its rating from "underweight" to "equal weight" and increasing the price target to $127.00.
• Emerson Electric announced a quarterly dividend of $0.5275 per share, representing an annualized yield of 1.6%, with a current payout ratio of 45.38%.

Eldred Rock Partners LLC lowered its stake in Emerson Electric Co. (NYSE:EMR - Free Report) by 5.0% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 95,873 shares of the industrial products company's stock after selling 5,047 shares during the quarter. Emerson Electric accounts for 3.9% of Eldred Rock Partners LLC's portfolio, making the stock its 9th biggest position. Eldred Rock Partners LLC's holdings in Emerson Electric were worth $12,783,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Wellington Management Group LLP lifted its position in Emerson Electric by 6.9% in the first quarter. Wellington Management Group LLP now owns 15,280,950 shares of the industrial products company's stock valued at $1,675,403,000 after purchasing an additional 980,652 shares during the last quarter. JPMorgan Chase & Co. grew its stake in Emerson Electric by 9.3% in the first quarter. JPMorgan Chase & Co. now owns 7,166,817 shares of the industrial products company's stock worth $785,770,000 after purchasing an additional 611,105 shares during the period. Nuveen LLC purchased a new stake in Emerson Electric in the first quarter worth $737,318,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Emerson Electric by 5.8% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,086,580 shares of the industrial products company's stock worth $448,053,000 after acquiring an additional 223,831 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Emerson Electric by 9.6% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,862,749 shares of the industrial products company's stock worth $478,710,000 after acquiring an additional 339,355 shares in the last quarter. Institutional investors own 74.30% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. TD Cowen raised Emerson Electric to a "strong-buy" rating in a report on Tuesday, July 8th. Barclays raised shares of Emerson Electric from an "underweight" rating to an "equal weight" rating and upped their target price for the company from $125.00 to $127.00 in a report on Thursday, August 7th. KeyCorp raised their price objective on Emerson Electric from $150.00 to $155.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 1st. Bank of America raised their price objective on Emerson Electric from $130.00 to $155.00 and gave the stock a "buy" rating in a research note on Wednesday, July 2nd. Finally, Stephens increased their target price on Emerson Electric from $130.00 to $145.00 and gave the stock an "equal weight" rating in a research report on Wednesday, July 16th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, Emerson Electric presently has a consensus rating of "Moderate Buy" and a consensus target price of $142.39.

Emerson Electric Stock Up 0.3%

Shares of NYSE:EMR traded up $0.45 on Friday, reaching $132.36. The company had a trading volume of 3,768,798 shares, compared to its average volume of 2,773,252. Emerson Electric Co. has a 52-week low of $90.06 and a 52-week high of $150.27. The firm's 50 day simple moving average is $136.63 and its 200-day simple moving average is $123.34. The firm has a market capitalization of $74.49 billion, a PE ratio of 28.46, a PEG ratio of 2.51 and a beta of 1.30. The company has a current ratio of 0.85, a quick ratio of 0.63 and a debt-to-equity ratio of 0.42.

Emerson Electric (NYSE:EMR - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The industrial products company reported $1.52 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.51 by $0.01. Emerson Electric had a return on equity of 14.34% and a net margin of 14.92%.The business had revenue of $4.55 billion for the quarter, compared to the consensus estimate of $4.60 billion. During the same period last year, the business posted $1.43 EPS. The business's revenue was up 3.9% compared to the same quarter last year. As a group, analysts expect that Emerson Electric Co. will post 5.96 earnings per share for the current fiscal year.

Emerson Electric Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Friday, August 15th were paid a $0.5275 dividend. The ex-dividend date was Friday, August 15th. This represents a $2.11 dividend on an annualized basis and a dividend yield of 1.6%. Emerson Electric's dividend payout ratio is presently 45.38%.

Emerson Electric Company Profile

Emerson Electric Co, a technology and software company, provides various solutions for customers in industrial, commercial, and consumer markets in the Americas, Asia, the Middle East, Africa, and Europe. It operates in six segments: Final Control, Control Systems & Software, Measurement & Analytical, AspenTech, Discrete Automation, and Safety & Productivity.