SeaCrest Wealth Management LLC Sells 2,944 Shares of Emerson Electric Co. $EMR

Key Points

• SeaCrest Wealth Management LLC reduced its stake in Emerson Electric Co. by 26.7%, selling 2,944 shares, bringing their total holdings to 8,084 shares valued at $1,078,000.
• Several analysts have increased their price targets for Emerson Electric, with Bank of America raising it from $130.00 to $155.00 and assigning a "buy" rating.
• Emerson Electric declared a quarterly dividend of $0.5275, resulting in an annualized dividend yield of 1.6%.

SeaCrest Wealth Management LLC decreased its holdings in shares of Emerson Electric Co. (NYSE:EMR - Free Report) by 26.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 8,084 shares of the industrial products company's stock after selling 2,944 shares during the quarter. SeaCrest Wealth Management LLC's holdings in Emerson Electric were worth $1,078,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in EMR. Assenagon Asset Management S.A. increased its holdings in Emerson Electric by 69.7% during the 2nd quarter. Assenagon Asset Management S.A. now owns 244,991 shares of the industrial products company's stock valued at $32,665,000 after purchasing an additional 100,606 shares in the last quarter. Perpetual Ltd grew its stake in shares of Emerson Electric by 17.3% during the second quarter. Perpetual Ltd now owns 1,384,613 shares of the industrial products company's stock worth $184,610,000 after purchasing an additional 204,358 shares during the period. TCV Trust & Wealth Management Inc. grew its stake in shares of Emerson Electric by 9.5% during the second quarter. TCV Trust & Wealth Management Inc. now owns 3,527 shares of the industrial products company's stock worth $470,000 after purchasing an additional 305 shares during the period. Kingstone Capital Partners Texas LLC acquired a new stake in shares of Emerson Electric during the second quarter worth $3,422,000. Finally, IFM Investors Pty Ltd grew its stake in Emerson Electric by 3.8% in the second quarter. IFM Investors Pty Ltd now owns 119,233 shares of the industrial products company's stock valued at $15,897,000 after acquiring an additional 4,393 shares during the period. Institutional investors own 74.30% of the company's stock.

Analyst Upgrades and Downgrades

EMR has been the subject of a number of research analyst reports. Stephens boosted their target price on Emerson Electric from $130.00 to $145.00 and gave the company an "equal weight" rating in a research note on Wednesday, July 16th. Citigroup boosted their price target on Emerson Electric from $146.00 to $165.00 and gave the company a "buy" rating in a report on Monday, July 14th. Barclays upgraded Emerson Electric from an "underweight" rating to an "equal weight" rating and boosted their price target for the company from $125.00 to $127.00 in a report on Thursday, August 7th. Bank of America boosted their price target on Emerson Electric from $130.00 to $155.00 and gave the company a "buy" rating in a report on Wednesday, July 2nd. Finally, KeyCorp boosted their price target on Emerson Electric from $150.00 to $155.00 and gave the company an "overweight" rating in a report on Tuesday, July 1st. Two investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $142.39.

Emerson Electric Price Performance

NYSE:EMR traded up $0.54 during trading hours on Monday, reaching $132.88. 3,109,301 shares of the company were exchanged, compared to its average volume of 3,140,834. The company has a market capitalization of $74.78 billion, a P/E ratio of 28.58, a P/E/G ratio of 2.51 and a beta of 1.30. Emerson Electric Co. has a 1-year low of $90.06 and a 1-year 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 moving average of $136.63 and a 200 day moving average of $123.39.

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

Emerson Electric Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Friday, August 15th were issued a $0.5275 dividend. This represents a $2.11 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date of this dividend was Friday, August 15th. Emerson Electric's dividend payout ratio (DPR) 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.