Emerson Electric Co. $EMR Position Cut by Sonora Investment Management Group LLC

Key Points

• Sonora Investment Management Group LLC reduced its position in Emerson Electric Co. by 6.5% in Q2, now holding 72,807 shares valued at $9.7 million.
• Emerson Electric's latest earnings report showed a slight increase in earnings per share to $1.52, while revenue was up 3.9% year-over-year despite being below analysts' expectations.
• The company announced a quarterly dividend of $0.5275 per share, resulting in an annualized dividend of $2.11 and a yield of 1.6%.

Sonora Investment Management Group LLC reduced its position in shares of Emerson Electric Co. (NYSE:EMR - Free Report) by 6.5% in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 72,807 shares of the industrial products company's stock after selling 5,081 shares during the quarter. Sonora Investment Management Group LLC's holdings in Emerson Electric were worth $9,707,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in EMR. Saudi Central Bank bought a new position in Emerson Electric during the 1st quarter valued at $25,000. MJT & Associates Financial Advisory Group Inc. bought a new position in Emerson Electric during the 1st quarter valued at $27,000. Inlight Wealth Management LLC acquired a new stake in shares of Emerson Electric during the 1st quarter valued at $28,000. Fourth Dimension Wealth LLC lifted its position in shares of Emerson Electric by 145.3% during the 1st quarter. Fourth Dimension Wealth LLC now owns 260 shares of the industrial products company's stock valued at $29,000 after acquiring an additional 154 shares during the last quarter. Finally, Garde Capital Inc. acquired a new stake in shares of Emerson Electric during the 1st quarter valued at $36,000. 74.30% of the stock is owned by institutional investors.

Emerson Electric Trading Down 1.1%

NYSE EMR opened at $128.70 on Friday. Emerson Electric Co. has a 1-year low of $90.06 and a 1-year high of $150.27. The company has a current ratio of 0.85, a quick ratio of 0.63 and a debt-to-equity ratio of 0.42. The company has a market capitalization of $72.43 billion, a PE ratio of 27.68, a price-to-earnings-growth ratio of 2.44 and a beta of 1.30. The firm's fifty day simple moving average is $135.56 and its 200-day simple moving average is $123.94.

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

Emerson Electric Announces Dividend

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

Analysts Set New Price Targets

EMR has been the subject of a number of recent research reports. Daiwa Capital Markets increased their price objective on Emerson Electric from $150.00 to $153.00 and gave the company an "outperform" rating in a research report on Wednesday. Barclays upgraded Emerson Electric from an "underweight" rating to an "equal weight" rating and increased their price objective for the company from $125.00 to $127.00 in a research report on Thursday, August 7th. KeyCorp increased their price objective on Emerson Electric from $150.00 to $155.00 and gave the company an "overweight" rating in a research report on Tuesday, July 1st. TD Cowen upgraded Emerson Electric to a "strong-buy" rating in a research report on Tuesday, July 8th. Finally, Bank of America increased their target price on Emerson Electric from $130.00 to $155.00 and gave the company a "buy" rating in a report on Wednesday, July 2nd. Two analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Emerson Electric currently has a consensus rating of "Moderate Buy" and an average target price of $143.76.

About Emerson Electric

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.

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