Fifth Third Bancorp Cuts Stake in Emerson Electric Co. $EMR

Key Points

• Fifth Third Bancorp reduced its stake in Emerson Electric Co. by 3.0%, selling 13,569 shares and now holding 0.08% of the company valued at approximately $58.97 million.
• Emerson Electric recently received multiple analyst upgrades, with target prices being raised by firms such as Citigroup, which increased its target from $146 to $165.
• The company declared a quarterly dividend of $0.5275 per share, resulting in an annualized yield of 1.6%.

Fifth Third Bancorp lowered its stake in shares of Emerson Electric Co. (NYSE:EMR - Free Report) by 3.0% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 442,294 shares of the industrial products company's stock after selling 13,569 shares during the period. Fifth Third Bancorp owned about 0.08% of Emerson Electric worth $58,971,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Saudi Central Bank acquired a new position in Emerson Electric during the first quarter worth about $25,000. MJT & Associates Financial Advisory Group Inc. acquired a new position in shares of Emerson Electric in the 1st quarter worth approximately $27,000. Inlight Wealth Management LLC acquired a new position in shares of Emerson Electric in the 1st quarter worth approximately $28,000. Fourth Dimension Wealth LLC lifted its holdings in shares of Emerson Electric by 145.3% in the 1st quarter. Fourth Dimension Wealth LLC now owns 260 shares of the industrial products company's stock worth $29,000 after acquiring an additional 154 shares during the last quarter. Finally, Ameriflex Group Inc. purchased a new stake in Emerson Electric during the 4th quarter worth approximately $30,000. Hedge funds and other institutional investors own 74.30% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on EMR shares. Stephens upped their target price on shares of Emerson Electric from $130.00 to $145.00 and gave the stock an "equal weight" rating in a research note on Wednesday, July 16th. TD Cowen raised shares of Emerson Electric to a "strong-buy" rating in a research note on Tuesday, July 8th. Wells Fargo & Company upped their target price on shares of Emerson Electric from $135.00 to $150.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 1st. Citigroup upped their target price on shares of Emerson Electric from $146.00 to $165.00 and gave the stock a "buy" rating in a research note on Monday, July 14th. Finally, Bank of America upped their target price 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. Two research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $142.39.

Emerson Electric Trading Down 1.0%

Shares of Emerson Electric stock opened at $131.56 on Wednesday. The company has a fifty day simple moving average of $136.33 and a 200-day simple moving average of $123.54. Emerson Electric Co. has a 12-month low of $90.06 and a 12-month high of $150.27. The company has a current ratio of 0.85, a quick ratio of 0.63 and a debt-to-equity ratio of 0.42. The stock has a market cap of $74.04 billion, a price-to-earnings ratio of 28.29, a PEG ratio of 2.52 and a beta of 1.30.

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

Emerson Electric Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Friday, August 15th were paid a dividend of $0.5275 per share. The ex-dividend date 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 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.

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