Providence Wealth Advisors LLC Has $1.24 Million Stock Position in Emerson Electric Co. (NYSE:EMR)

Key Points

• Providence Wealth Advisors LLC increased its holdings in Emerson Electric by 23.2%, owning 11,343 shares worth approximately $1.24 million as of the end of the first quarter.
• Emerson Electric's stock has been positively rated by several analysts, with price targets ranging from $124.00 to $165.00, indicating a consensus rating of "Moderate Buy."
• The company recently declared a quarterly dividend of $0.5275 per share, giving it an annualized yield of 1.41% and a payout ratio of 50.48%.

Providence Wealth Advisors LLC lifted its stake in shares of Emerson Electric Co. (NYSE:EMR - Free Report) by 23.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,343 shares of the industrial products company's stock after acquiring an additional 2,136 shares during the quarter. Providence Wealth Advisors LLC's holdings in Emerson Electric were worth $1,237,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of EMR. Accretive Wealth Partners LLC acquired a new stake in shares of Emerson Electric in the first quarter worth $220,000. Empirical Finance LLC boosted its position in shares of Emerson Electric by 1.8% in the first quarter. Empirical Finance LLC now owns 19,995 shares of the industrial products company's stock worth $2,192,000 after buying an additional 345 shares during the period. GLOBALT Investments LLC GA boosted its position in shares of Emerson Electric by 2.2% in the first quarter. GLOBALT Investments LLC GA now owns 70,495 shares of the industrial products company's stock worth $7,729,000 after buying an additional 1,499 shares during the period. Phoenix Financial Ltd. boosted its position in shares of Emerson Electric by 192.1% in the first quarter. Phoenix Financial Ltd. now owns 13,009 shares of the industrial products company's stock worth $1,432,000 after buying an additional 8,556 shares during the period. Finally, Wilkins Investment Counsel Inc. boosted its position in shares of Emerson Electric by 0.8% in the first quarter. Wilkins Investment Counsel Inc. now owns 136,688 shares of the industrial products company's stock worth $14,986,000 after buying an additional 1,026 shares during the period. 74.30% of the stock is owned by institutional investors.

Emerson Electric Stock Performance

Shares of NYSE:EMR traded down $0.82 during midday trading on Wednesday, hitting $146.79. The company's stock had a trading volume of 1,873,033 shares, compared to its average volume of 3,053,297. The stock has a market capitalization of $82.57 billion, a price-to-earnings ratio of 35.14, a PEG ratio of 2.90 and a beta of 1.29. The stock's 50 day simple moving average is $132.01 and its 200 day simple moving average is $120.79. Emerson Electric Co. has a fifty-two week low of $90.06 and a fifty-two week high of $150.27. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.59 and a current ratio of 0.80.

Emerson Electric (NYSE:EMR - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The industrial products company reported $1.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.41 by $0.07. Emerson Electric had a return on equity of 13.22% and a net margin of 13.60%. The company had revenue of $4.43 billion for the quarter, compared to the consensus estimate of $4.42 billion. During the same period last year, the business posted $1.36 earnings per share. The firm's revenue was up 1.3% compared to the same quarter last year. As a group, research analysts anticipate that Emerson Electric Co. will post 5.96 earnings per share for the current year.

Emerson Electric Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Friday, May 16th were given a dividend of $0.5275 per share. This represents a $2.11 dividend on an annualized basis and a yield of 1.44%. The ex-dividend date of this dividend was Friday, May 16th. Emerson Electric's dividend payout ratio (DPR) is presently 50.48%.

Analysts Set New Price Targets

Several analysts have recently commented on the company. Barclays raised their target price on Emerson Electric from $118.00 to $125.00 and gave the stock an "underweight" rating in a research report on Wednesday, July 9th. Royal Bank Of Canada increased their price objective on Emerson Electric from $123.00 to $124.00 and gave the stock an "outperform" rating in a report on Thursday, May 8th. TD Cowen upgraded 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 stock an "overweight" rating in a report on Tuesday, July 1st. Finally, Stephens increased their price objective on Emerson Electric from $130.00 to $145.00 and gave the stock an "equal weight" rating in a report on Wednesday, July 16th. Two analysts have rated the stock with a sell rating, four have issued a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $142.28.

Insiders Place Their Bets

In related news, CEO Surendralal Lanca Karsanbhai sold 16,698 shares of Emerson Electric stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $113.33, for a total transaction of $1,892,384.34. Following the sale, the chief executive officer directly owned 164,957 shares of the company's stock, valued at $18,694,576.81. This trade represents a 9.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.50% of the stock is currently owned by company insiders.

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.