Emerson Electric Co. $EMR Shares Sold by Parsons Capital Management Inc. RI

Key Points

• Parsons Capital Management Inc. significantly reduced its stake in Emerson Electric Co. by 82.5% during the second quarter, leaving it with only 30,442 shares worth approximately $4,059,000.
• Several research firms have upgraded Emerson Electric's ratings, with Wells Fargo raising its price target from $135.00 to $150.00 and maintaining an "overweight" rating.
• Emerson Electric's recent quarterly earnings surpassed analysts' expectations with an EPS of $1.52, despite revenue slightly missing forecasts.

Parsons Capital Management Inc. RI trimmed its holdings in Emerson Electric Co. (NYSE:EMR - Free Report) by 82.5% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 30,442 shares of the industrial products company's stock after selling 143,359 shares during the quarter. Parsons Capital Management Inc. RI's holdings in Emerson Electric were worth $4,059,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. First Horizon Advisors Inc. boosted its holdings in Emerson Electric by 2.7% in the first quarter. First Horizon Advisors Inc. now owns 212,252 shares of the industrial products company's stock valued at $23,271,000 after purchasing an additional 5,504 shares in the last quarter. North Capital Inc. acquired a new position in Emerson Electric in the first quarter valued at approximately $211,000. Davis Investment Partners LLC acquired a new position in Emerson Electric in the second quarter valued at approximately $692,000. Golden State Equity Partners acquired a new position in Emerson Electric in the first quarter valued at approximately $459,000. Finally, Truist Financial Corp boosted its holdings in shares of Emerson Electric by 1.7% in the first quarter. Truist Financial Corp now owns 1,078,616 shares of the industrial products company's stock valued at $118,259,000 after acquiring an additional 18,069 shares during the period. 74.30% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on EMR. TD Cowen raised Emerson Electric to a "strong-buy" rating in a report on Tuesday, July 8th. Wells Fargo & Company increased their price objective on Emerson Electric from $135.00 to $150.00 and gave the company an "overweight" rating in a report on Tuesday, July 1st. KeyCorp increased their price objective on Emerson Electric from $150.00 to $155.00 and gave the company an "overweight" rating in a report on Tuesday, July 1st. Citigroup increased their price objective on Emerson Electric from $146.00 to $165.00 and gave the company a "buy" rating in a report on Monday, July 14th. Finally, Barclays raised 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 report on Thursday, August 7th. Two research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Emerson Electric presently has an average rating of "Moderate Buy" and an average target price of $143.76.

Emerson Electric Price Performance

Emerson Electric stock opened at $131.20 on Thursday. 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 current ratio of 0.85 and a quick ratio of 0.63. The business has a 50 day simple moving average of $134.71 and a 200-day simple moving average of $124.26. The stock has a market capitalization of $73.84 billion, a PE ratio of 28.21, a price-to-earnings-growth ratio of 2.49 and a beta of 1.29.

Emerson Electric (NYSE:EMR - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The industrial products company reported $1.52 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts' expectations of $4.60 billion. During the same quarter in the prior year, the business earned $1.43 earnings per share. The company's quarterly revenue was up 3.9% compared to the same quarter last year. Equities analysts predict that Emerson Electric Co. will post 5.96 earnings per share for the current year.

Emerson Electric Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Friday, August 15th were given a $0.5275 dividend. 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 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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