Emerson Electric Co. $EMR Shares Sold by Ipswich Investment Management Co. Inc.

Key Points

• Ipswich Investment Management Co. Inc. reduced its stake in Emerson Electric by 14.4%, selling 3,062 shares, leaving it with a total of 18,249 shares valued at approximately $2.43 million.
• Significant institutional interest is evident as firms like Nuveen LLC and Pacer Advisors Inc. have made substantial increases in their holdings during the first quarter.
• Analysts have raised their price targets for Emerson Electric, with Citigroup setting a new target at $165.00 and overall ratings skewed towards a "Moderate Buy" consensus.

Ipswich Investment Management Co. Inc. cut its stake in Emerson Electric Co. (NYSE:EMR - Free Report) by 14.4% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 18,249 shares of the industrial products company's stock after selling 3,062 shares during the period. Ipswich Investment Management Co. Inc.'s holdings in Emerson Electric were worth $2,433,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in EMR. Nuveen LLC acquired a new position in Emerson Electric during the first quarter worth approximately $737,318,000. Pacer Advisors Inc. increased its holdings in shares of Emerson Electric by 4,583.7% in the 1st quarter. Pacer Advisors Inc. now owns 2,185,049 shares of the industrial products company's stock valued at $239,569,000 after acquiring an additional 2,138,397 shares during the period. Alliancebernstein L.P. raised its position in Emerson Electric by 218.7% in the 1st quarter. Alliancebernstein L.P. now owns 2,468,732 shares of the industrial products company's stock valued at $270,672,000 after purchasing an additional 1,693,999 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its stake in Emerson Electric by 210.8% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 1,966,453 shares of the industrial products company's stock worth $215,602,000 after purchasing an additional 1,333,839 shares during the period. Finally, GAMMA Investing LLC grew its position in Emerson Electric by 12,707.7% during the 1st quarter. GAMMA Investing LLC now owns 1,126,441 shares of the industrial products company's stock worth $123,503,000 after purchasing an additional 1,117,646 shares during the last quarter. Institutional investors and hedge funds own 74.30% of the company's stock.

Analyst Upgrades and Downgrades

EMR has been the subject of several recent research reports. Citigroup raised their price target on Emerson Electric from $146.00 to $165.00 and gave the stock a "buy" rating in a report on Monday, July 14th. Wells Fargo & Company lifted their target price on Emerson Electric from $135.00 to $150.00 and gave the company an "overweight" rating in a research note on Tuesday, July 1st. Barclays upgraded Emerson Electric from an "underweight" rating to an "equal weight" rating and upped their price target for the stock from $125.00 to $127.00 in a research note on Thursday, August 7th. Stephens lifted their price objective on shares of Emerson Electric from $130.00 to $145.00 and gave the company an "equal weight" rating in a research report on Wednesday, July 16th. Finally, Bank of America raised their target price on shares of Emerson Electric from $130.00 to $155.00 and gave the stock a "buy" rating in a research note on Wednesday, July 2nd. Two investment analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Emerson Electric has an average rating of "Moderate Buy" and a consensus target price of $143.76.

Emerson Electric Price Performance

Shares of NYSE EMR opened at $128.70 on Friday. The company's fifty day moving average is $135.56 and its two-hundred day moving average is $123.85. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.63 and a current ratio of 0.85. The firm has a market capitalization of $72.43 billion, a P/E ratio of 27.68, a PEG ratio of 2.47 and a beta of 1.30. Emerson Electric Co. has a one year low of $90.06 and a one year high of $150.27.

Emerson Electric (NYSE:EMR - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The industrial products company reported $1.52 EPS 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 firm had revenue of $4.55 billion for the quarter, compared to the consensus estimate of $4.60 billion. During the same quarter in the previous year, the firm earned $1.43 earnings per share. The firm's revenue was up 3.9% on a year-over-year basis. Analysts forecast that Emerson Electric Co. will post 5.96 EPS for the current fiscal year.

Emerson Electric Dividend Announcement

The company 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 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date was Friday, August 15th. Emerson Electric's 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.

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