Emerson Electric Co. $EMR Stock Position Lowered by Synovus Financial Corp

Key Points

• Synovus Financial Corp reduced its stake in Emerson Electric by 10.4%, now holding 47,994 shares valued at approximately $5.26 million.
• Emerson Electric reported an earnings per share of $1.52, slightly surpassing estimates, with quarterly revenue up 3.9% year-over-year at $4.55 billion.
• The company declared a quarterly dividend of $0.5275, representing an annualized dividend of $2.11 and a yield of 1.6%.

Synovus Financial Corp trimmed its stake in Emerson Electric Co. (NYSE:EMR - Free Report) by 10.4% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 47,994 shares of the industrial products company's stock after selling 5,578 shares during the quarter. Synovus Financial Corp's holdings in Emerson Electric were worth $5,262,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Orion Capital Management LLC acquired a new position in shares of Emerson Electric in the 4th quarter worth $25,000. Vega Investment Solutions acquired a new position in shares of Emerson Electric in the 4th quarter worth $27,000. MJT & Associates Financial Advisory Group Inc. acquired a new position in shares of Emerson Electric in the 1st quarter worth $27,000. Inlight Wealth Management LLC acquired a new position in shares of Emerson Electric in the 1st quarter worth $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 last quarter. 74.30% of the stock is currently owned by institutional investors and hedge funds.

Emerson Electric Price Performance

Shares of NYSE:EMR opened at $133.6260 on Monday. The business has a 50 day moving average price of $137.06 and a 200 day moving average price of $121.85. Emerson Electric Co. has a twelve month low of $90.06 and a twelve month high of $150.27. The company has a market cap of $75.20 billion, a price-to-earnings ratio of 28.74, a PEG ratio of 2.61 and a beta of 1.32. The company has a quick ratio of 0.63, a current ratio of 0.85 and a debt-to-equity ratio of 0.42.

Emerson Electric (NYSE:EMR - Get Free Report) last announced its earnings results on Wednesday, August 6th. The industrial products company reported $1.52 earnings per share for the quarter, beating 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 firm had revenue of $4.55 billion during the quarter, compared to the consensus estimate of $4.60 billion. During the same quarter in the prior year, the company earned $1.43 EPS. The firm's revenue for the quarter was up 3.9% compared to the same quarter last year. Research analysts predict that Emerson Electric Co. will post 5.96 earnings per share for the current year.

Emerson Electric Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Friday, August 15th will be given a $0.5275 dividend. The ex-dividend date is Friday, August 15th. This represents a $2.11 dividend on an annualized basis and a dividend yield of 1.6%. Emerson Electric's dividend payout ratio (DPR) is currently 45.38%.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on EMR. JPMorgan Chase & Co. lifted their price target on Emerson Electric from $113.00 to $133.00 and gave the company a "neutral" rating in a report on Friday, May 16th. Wells Fargo & Company lifted their price target on Emerson Electric from $135.00 to $150.00 and gave the company an "overweight" rating in a report on Tuesday, July 1st. Bank of America lifted 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. 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. Finally, Citigroup upped their price target on Emerson Electric from $146.00 to $165.00 and gave the stock a "buy" rating in a research note on Monday, July 14th. Two research 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 issued a Sell rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $142.39.

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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