Emerson Electric Co. $EMR Stock Sold by Phoenix Financial Ltd.

Key Points

• Phoenix Financial cut its Emerson Electric stake by 85.5% in the third quarter, selling 1,169,512 shares and retaining 198,425 shares valued at about $30.8 million.
• Emerson reported quarterly earnings of $1.86 per share and revenue of $5.20 billion, slightly above analyst estimates. It also raised its quarterly dividend from $0.555 to $0.595 per share.
• Analysts hold a consensus “Moderate Buy” rating, with a $175.58 average price target; shares recently traded at $166.26.

Phoenix Financial Ltd. lessened its holdings in shares of Emerson Electric Co. (NYSE:EMR - Free Report) by 85.5% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 198,425 shares of the industrial products company's stock after selling 1,169,512 shares during the quarter. Phoenix Financial Ltd.'s holdings in Emerson Electric were worth $30,779,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in the stock. BlackRock Inc. purchased a new stake in shares of Emerson Electric in the 2nd quarter worth about $6,193,425,000. State Street Corp boosted its stake in shares of Emerson Electric by 1.5% during the 2nd quarter. State Street Corp now owns 27,678,497 shares of the industrial products company's stock valued at $3,962,177,000 after purchasing an additional 403,957 shares in the last quarter. Bank of America Corp DE increased its position in shares of Emerson Electric by 13.1% during the first quarter. Bank of America Corp DE now owns 19,941,844 shares of the industrial products company's stock valued at $2,612,780,000 after buying an additional 2,302,055 shares during the period. Fisher Asset Management LLC increased its position in shares of Emerson Electric by 9.6% during the third quarter. Fisher Asset Management LLC now owns 10,327,433 shares of the industrial products company's stock valued at $1,601,785,000 after buying an additional 900,724 shares during the period. Finally, Bank of New York Mellon Corp bought a new position in Emerson Electric in the second quarter worth about $659,000,000. Institutional investors own 74.30% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on EMR shares. JPMorgan Chase & Co. lifted their price objective on Emerson Electric from $169.00 to $184.00 and gave the company an "overweight" rating in a research report on Friday, October 9th. BNP Paribas Exane increased their target price on Emerson Electric from $185.00 to $200.00 and gave the stock an "outperform" rating in a research report on Thursday, November 5th. Stephens raised their target price on Emerson Electric from $155.00 to $160.00 in a research note on Thursday, August 6th. HSBC lifted their price target on Emerson Electric from $170.00 to $180.00 in a research report on Thursday, August 6th. Finally, KeyCorp upped their price target on Emerson Electric from $170.00 to $200.00 and gave the stock an "overweight" rating in a research note on Thursday, November 5th. One research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, seven have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $175.58.

Emerson Electric Stock Down 0.4%

NYSE EMR traded down $0.66 during trading hours on Friday, reaching $166.26. 1,873,643 shares of the company's stock traded hands, compared to its average volume of 3,114,572. Emerson Electric Co. has a 52-week low of $122.64 and a 52-week high of $172.00. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.94 and a quick ratio of 0.70. The firm has a 50-day simple moving average of $159.58 and a 200 day simple moving average of $148.08. The firm has a market cap of $91.21 billion, a PE ratio of 34.78, a PEG ratio of 2.34 and a beta of 1.23.

Emerson Electric (NYSE:EMR - Get Free Report) last announced its quarterly earnings data on Wednesday, November 4th. The industrial products company reported $1.86 earnings per share for the quarter, topping analysts' consensus estimates of $1.85 by $0.01. Emerson Electric had a net margin of 14.15% and a return on equity of 18.08%. The business had revenue of $5.20 billion for the quarter, compared to analysts' expectations of $5.11 billion. During the same quarter in the prior year, the company earned $1.62 earnings per share. The business's revenue was up .0% compared to the same quarter last year. Sell-side analysts anticipate that Emerson Electric Co. will post 7.37 EPS for the current fiscal year.

Emerson Electric Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 10th. Investors of record on Friday, November 13th will be paid a $0.5950 dividend. This represents a $2.38 annualized dividend and a dividend yield of 1.4%. The ex-dividend date is Friday, November 13th. This is an increase from Emerson Electric's previous quarterly dividend of $0.5550. Emerson Electric's dividend payout ratio (DPR) is currently 46.44%.

About Emerson Electric

Emerson Electric Co. is a global technology and engineering company focused on automation. It develops products and systems that help industrial and commercial customers monitor and control operations, including measurement instruments, control systems, valves, actuators, and industrial software. The company serves customers across industries and regions worldwide. Its portfolio includes technologies for process and factory automation, as well as software used to design, operate, and optimize industrial facilities.

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