Eventide Asset Management LLC Takes $349,000 Position in Emerson Electric Co. $EMR

Key Points

• Eventide Asset Management LLC has invested approximately $349,000 in Emerson Electric Co. by acquiring 3,210 shares during the 1st quarter of the year.
• Emerson Electric recently reported a quarterly earnings per share of $1.52, slightly beating analysts' expectations, with revenues of $4.55 billion for the quarter.
• The company has announced a quarterly dividend of $0.5275 per share, with a yearly dividend yield of 1.6%, reflecting a payout ratio of 45.38%.

Eventide Asset Management LLC acquired a new stake in Emerson Electric Co. (NYSE:EMR - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 3,210 shares of the industrial products company's stock, valued at approximately $349,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in EMR. Hohimer Wealth Management LLC increased its holdings in Emerson Electric by 0.3% in the 1st quarter. Hohimer Wealth Management LLC now owns 27,963 shares of the industrial products company's stock valued at $3,066,000 after purchasing an additional 95 shares during the last quarter. Clearstead Trust LLC boosted its stake in Emerson Electric by 7.4% in the first quarter. Clearstead Trust LLC now owns 1,406 shares of the industrial products company's stock valued at $154,000 after acquiring an additional 97 shares in the last quarter. One Wealth Advisors LLC raised its holdings in shares of Emerson Electric by 5.7% in the first quarter. One Wealth Advisors LLC now owns 1,846 shares of the industrial products company's stock valued at $202,000 after buying an additional 99 shares during the last quarter. J. W. Coons Advisors LLC raised its holdings in shares of Emerson Electric by 0.8% in the first quarter. J. W. Coons Advisors LLC now owns 13,000 shares of the industrial products company's stock valued at $1,425,000 after buying an additional 100 shares during the last quarter. Finally, Flagship Wealth Advisors LLC raised its holdings in Emerson Electric by 4.0% during the first quarter. Flagship Wealth Advisors LLC now owns 2,600 shares of the industrial products company's stock worth $285,000 after purchasing an additional 100 shares in the last quarter. Institutional investors and hedge funds own 74.30% of the company's stock.

Emerson Electric Trading Up 1.3%

Shares of NYSE EMR traded up $1.78 during mid-day trading on Wednesday, hitting $133.83. The company's stock had a trading volume of 913,689 shares, compared to its average volume of 3,116,856. The stock has a market cap of $75.32 billion, a price-to-earnings ratio of 28.79, a price-to-earnings-growth ratio of 2.59 and a beta of 1.30. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.85 and a quick ratio of 0.63. Emerson Electric Co. has a one year low of $90.06 and a one year high of $150.27. The company's fifty day simple moving average is $137.50 and its 200-day simple moving average is $122.52.

Emerson Electric (NYSE:EMR - Get Free Report) last announced its earnings results on Wednesday, August 6th. The industrial products company reported $1.52 EPS for the quarter, topping 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 firm had revenue of $4.55 billion for the quarter, compared to the consensus estimate of $4.60 billion. During the same period last year, the company posted $1.43 EPS. The business's quarterly revenue was up 3.9% on a year-over-year basis. On average, sell-side analysts anticipate that Emerson Electric Co. will post 5.96 earnings per share for the current fiscal year.

Emerson Electric Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Friday, August 15th will be given 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 is Friday, August 15th. Emerson Electric's payout ratio is presently 45.38%.

Analyst Ratings Changes

A number of analysts recently issued reports on EMR shares. Wells Fargo & Company raised their target price on shares of Emerson Electric from $135.00 to $150.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 1st. KeyCorp boosted their target price on shares of Emerson Electric from $150.00 to $155.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 1st. TD Cowen raised shares of Emerson Electric to a "strong-buy" rating in a report on Tuesday, July 8th. Bank of America upped their price target on shares of Emerson Electric from $130.00 to $155.00 and gave the stock a "buy" rating in a research note on Wednesday, July 2nd. Finally, Stephens boosted their target price on shares of Emerson Electric from $130.00 to $145.00 and gave the stock an "equal weight" rating in a report on Wednesday, July 16th. 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 stock. According to data from MarketBeat.com, the company 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.