Mechanics Bank Trust Department Cuts Stock Position in Emerson Electric Co. $EMR

Key Points

• Mechanics Bank Trust Department has reduced its holdings in Emerson Electric Co. by 25.3%, owning 9,055 shares worth approximately $1.2 million after selling 3,061 shares in the second quarter.
• Emerson Electric reported $1.52 EPS for the last quarter, exceeding estimates, with revenue increasing by 3.9% year-over-year, amounting to $4.55 billion.
• The company recently declared a quarterly dividend of $0.5275 per share, representing a 1.6% yield with a payout ratio of 45.38%.

Mechanics Bank Trust Department cut its holdings in Emerson Electric Co. (NYSE:EMR - Free Report) by 25.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,055 shares of the industrial products company's stock after selling 3,061 shares during the quarter. Mechanics Bank Trust Department's holdings in Emerson Electric were worth $1,207,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Saudi Central Bank purchased a new position in shares of Emerson Electric in the 1st quarter valued at about $25,000. Ameriflex Group Inc. acquired a new position in Emerson Electric during the fourth quarter worth about $30,000. MJT & Associates Financial Advisory Group Inc. purchased a new position in Emerson Electric in the first quarter valued at about $27,000. Inlight Wealth Management LLC purchased a new stake in shares of Emerson Electric during the 1st quarter worth approximately $28,000. Finally, Fourth Dimension Wealth LLC grew its holdings in shares of Emerson Electric by 145.3% in the 1st quarter. Fourth Dimension Wealth LLC now owns 260 shares of the industrial products company's stock worth $29,000 after acquiring an additional 154 shares during the period. Institutional investors and hedge funds own 74.30% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on EMR shares. TD Cowen upgraded Emerson Electric to a "strong-buy" rating in a research report on Tuesday, July 8th. KeyCorp boosted their price objective on shares of Emerson Electric from $150.00 to $155.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 1st. Bank of America lifted their target price on shares of Emerson Electric from $130.00 to $155.00 and gave the stock a "buy" rating in a research report on Wednesday, July 2nd. Citigroup upped their price target on shares of Emerson Electric from $146.00 to $165.00 and gave the company a "buy" rating in a report on Monday, July 14th. Finally, Wells Fargo & Company boosted their price target on Emerson Electric from $135.00 to $150.00 and gave the stock an "overweight" rating in a report on Tuesday, July 1st. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Emerson Electric currently has a consensus rating of "Moderate Buy" and an average price target of $142.39.

Emerson Electric Trading Up 0.4%

Emerson Electric stock traded up $0.54 during trading on Monday, reaching $132.88. The company had a trading volume of 3,109,301 shares, compared to its average volume of 2,779,784. Emerson Electric Co. has a 12-month low of $90.06 and a 12-month high of $150.27. 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 stock's 50 day moving average price is $136.49 and its two-hundred day moving average price is $123.49. The firm has a market capitalization of $74.78 billion, a price-to-earnings ratio of 28.58, a PEG ratio of 2.51 and a beta of 1.30.

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 for the quarter, beating 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 company had revenue of $4.55 billion for the quarter, compared to analyst estimates of $4.60 billion. During the same quarter last year, the business earned $1.43 EPS. Emerson Electric's revenue for the quarter was up 3.9% on a year-over-year basis. As a group, equities analysts expect that Emerson Electric Co. will post 5.96 earnings per share for the current fiscal year.

Emerson Electric Announces Dividend

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

Emerson Electric 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.