Emerson Electric Co. $EMR Shares Bought by Exchange Traded Concepts LLC

Key Points

• Exchange Traded Concepts LLC increased its stake in Emerson Electric Co. by 2.3%, holding approximately $24.09 million worth of shares after purchasing an additional 4,036 shares in the second quarter.
• Emerson Electric reported a quarterly EPS of $1.52, surpassing analysts' estimates of $1.51, with a revenue of $4.55 billion, which was slightly below expectations.
• The company declared a quarterly dividend of $0.5275 per share, yielding an annualized dividend of 1.6%, paid to shareholders on September 10th.

Exchange Traded Concepts LLC lifted its position in shares of Emerson Electric Co. (NYSE:EMR - Free Report) by 2.3% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 180,707 shares of the industrial products company's stock after purchasing an additional 4,036 shares during the period. Exchange Traded Concepts LLC's holdings in Emerson Electric were worth $24,094,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. First Horizon Advisors Inc. increased its position in Emerson Electric by 2.7% in the 1st quarter. First Horizon Advisors Inc. now owns 212,252 shares of the industrial products company's stock valued at $23,271,000 after acquiring an additional 5,504 shares during the period. North Capital Inc. acquired a new position in Emerson Electric in the 1st quarter valued at about $211,000. Davis Investment Partners LLC acquired a new position in Emerson Electric in the 2nd quarter valued at about $692,000. Zurich Insurance Group Ltd FI acquired a new position in Emerson Electric in the 4th quarter valued at about $3,003,000. Finally, Golden State Equity Partners acquired a new position in Emerson Electric in the 1st quarter valued at about $459,000. Institutional investors and hedge funds own 74.30% of the company's stock.

Wall Street Analyst Weigh In

EMR has been the topic of several recent research reports. Barclays upgraded Emerson Electric from an "underweight" rating to an "equal weight" rating and boosted their price target for the company from $125.00 to $127.00 in a research report on Thursday, August 7th. KeyCorp lifted their price objective on Emerson Electric from $150.00 to $155.00 and gave the company an "overweight" rating in a report on Tuesday, July 1st. Bank of America lifted their price objective on Emerson Electric from $130.00 to $155.00 and gave the company a "buy" rating in a report on Wednesday, July 2nd. Wells Fargo & Company lifted their price objective on Emerson Electric from $135.00 to $150.00 and gave the company an "overweight" rating in a report on Tuesday, July 1st. Finally, Stephens boosted their price target on Emerson Electric from $130.00 to $145.00 and gave the stock an "equal weight" rating in a research note on Wednesday, July 16th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $142.39.

Emerson Electric Stock Up 1.0%

Shares of Emerson Electric stock traded up $1.28 during trading hours on Monday, hitting $133.62. 1,177,854 shares of the company's stock traded hands, compared to its average volume of 3,129,228. The stock has a 50 day simple moving average of $136.63 and a 200-day simple moving average of $123.39. The company has a quick ratio of 0.63, a current ratio of 0.85 and a debt-to-equity ratio of 0.42. The company has a market cap of $75.20 billion, a PE ratio of 28.77, a PEG ratio of 2.51 and a beta of 1.30. Emerson Electric Co. has a twelve month low of $90.06 and a twelve month high of $150.27.

Emerson Electric (NYSE:EMR - Get Free Report) last issued its quarterly 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 business had revenue of $4.55 billion for the quarter, compared to analysts' expectations of $4.60 billion. During the same quarter last year, the company posted $1.43 earnings per share. The company's quarterly revenue was up 3.9% compared to the same quarter last year. Equities research analysts anticipate that Emerson Electric Co. will post 5.96 earnings per share for the current fiscal year.

Emerson Electric Dividend Announcement

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

About Emerson Electric

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.