Lord Abbett & CO. LLC trimmed its holdings in shares of Emerson Electric Co. (NYSE:EMR - Free Report) by 18.6% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 768,762 shares of the industrial products company's stock after selling 175,999 shares during the period. Lord Abbett & CO. LLC owned 0.14% of Emerson Electric worth $84,287,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also recently added to or reduced their stakes in EMR. Orion Capital Management LLC purchased a new position in Emerson Electric in the 4th quarter valued at about $25,000. Vega Investment Solutions purchased a new position in Emerson Electric in the 4th quarter valued at about $27,000. Ameriflex Group Inc. purchased a new position in Emerson Electric in the 4th quarter valued at about $30,000. MJT & Associates Financial Advisory Group Inc. purchased a new position in Emerson Electric in the 1st quarter valued at about $27,000. Finally, Inlight Wealth Management LLC purchased a new position in Emerson Electric in the 1st quarter valued at about $28,000. 74.30% of the stock is owned by hedge funds and other institutional investors.
Emerson Electric Stock Performance
Shares of NYSE:EMR traded up $0.06 during trading hours on Monday, hitting $131.81. The stock had a trading volume of 2,772,290 shares, compared to its average volume of 3,173,880. The stock's fifty day simple moving average is $136.53 and its 200 day simple moving average is $121.71. Emerson Electric Co. has a 1-year low of $90.06 and a 1-year high of $150.27. The firm has a market capitalization of $74.18 billion, a price-to-earnings ratio of 28.35, a PEG ratio of 2.57 and a beta of 1.32. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.63 and a current ratio of 0.85.
Emerson Electric (NYSE:EMR - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The industrial products company reported $1.52 EPS for the quarter, beating the consensus estimate of $1.51 by $0.01. Emerson Electric had a net margin of 14.92% and a return on equity of 14.34%. The company had revenue of $4.55 billion for the quarter, compared to analyst estimates of $4.60 billion. During the same quarter last year, the business earned $1.43 earnings per share. Emerson Electric's revenue was up 3.9% compared to the same quarter last year. Sell-side analysts anticipate that Emerson Electric Co. will post 5.96 earnings per share for the current fiscal year.
Emerson Electric Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Friday, August 15th will be issued a $0.5275 dividend. The ex-dividend date is Friday, August 15th. This represents a $2.11 annualized dividend and a dividend yield of 1.6%. Emerson Electric's dividend payout ratio (DPR) is 45.38%.
Analyst Upgrades and Downgrades
EMR has been the subject of a number of analyst reports. Bank of America upped their price objective on shares of Emerson Electric from $130.00 to $155.00 and gave the company a "buy" rating in a research report on Wednesday, July 2nd. Wall Street Zen upgraded shares of Emerson Electric from a "hold" rating to a "buy" rating in a research note on Friday, May 9th. JPMorgan Chase & Co. upped their target price on shares of Emerson Electric from $113.00 to $133.00 and gave the company a "neutral" rating in a research note on Friday, May 16th. Royal Bank Of Canada upped their target price on shares of Emerson Electric from $123.00 to $124.00 and gave the company an "outperform" rating in a research note on Thursday, May 8th. Finally, Wells Fargo & Company upped their target price on shares of Emerson Electric from $135.00 to $150.00 and gave the company an "overweight" rating in a research note on Tuesday, July 1st. One investment analyst has rated the stock with a sell rating, five have given a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, Emerson Electric has a consensus rating of "Moderate Buy" and an average target price of $142.39.
View Our Latest Analysis on EMR
About Emerson Electric
(
Free Report)
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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