Fulton Bank N.A. Decreases Stake in Emerson Electric Co. $EMR

Key Points

• Fulton Bank N.A. has reduced its stake in Emerson Electric Co. by 23.7%, holding 7,260 shares valued at $968,000 after selling 2,260 shares during the second quarter.
• Emerson Electric reported $1.52 earnings per share, exceeding analysts' expectations, with a net margin of 14.92% and quarterly revenue of $4.55 billion, indicating a 3.9% year-over-year increase.
• The company has announced a quarterly dividend of $0.5275, equating to an annualized dividend of $2.11 and a yield of 1.6%, with a current payout ratio of 45.38%.

Fulton Bank N.A. trimmed its holdings in Emerson Electric Co. (NYSE:EMR - Free Report) by 23.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,260 shares of the industrial products company's stock after selling 2,260 shares during the quarter. Fulton Bank N.A.'s holdings in Emerson Electric were worth $968,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in EMR. Nuveen LLC acquired a new position in shares of Emerson Electric in the 1st quarter valued at about $737,318,000. Pacer Advisors Inc. raised its stake in Emerson Electric by 4,583.7% during the 1st quarter. Pacer Advisors Inc. now owns 2,185,049 shares of the industrial products company's stock worth $239,569,000 after buying an additional 2,138,397 shares during the period. Alliancebernstein L.P. raised its stake in Emerson Electric by 218.7% during the 1st quarter. Alliancebernstein L.P. now owns 2,468,732 shares of the industrial products company's stock worth $270,672,000 after buying an additional 1,693,999 shares during the period. Massachusetts Financial Services Co. MA raised its stake in Emerson Electric by 210.8% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 1,966,453 shares of the industrial products company's stock worth $215,602,000 after buying an additional 1,333,839 shares during the period. Finally, GAMMA Investing LLC raised its stake in Emerson Electric by 12,707.7% during the 1st quarter. GAMMA Investing LLC now owns 1,126,441 shares of the industrial products company's stock worth $123,503,000 after buying an additional 1,117,646 shares during the period. 74.30% of the stock is owned by institutional investors and hedge funds.

Emerson Electric Stock Up 0.3%

Emerson Electric stock traded up $0.45 during trading hours on Friday, hitting $132.36. 3,768,798 shares of the stock traded hands, compared to its average volume of 2,773,252. The firm's 50-day moving average price is $136.63 and its two-hundred day moving average price is $123.34. 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 company has a market cap of $74.49 billion, a PE ratio of 28.46, a PEG ratio of 2.51 and a beta of 1.30. Emerson Electric Co. has a one year low of $90.06 and a one year high of $150.27.

Emerson Electric (NYSE:EMR - Get Free Report) last released 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 firm had revenue of $4.55 billion during the quarter, compared to analyst estimates of $4.60 billion. During the same period last year, the business earned $1.43 earnings per share. The business's revenue was up 3.9% on a year-over-year basis. On average, research analysts forecast that Emerson Electric Co. will post 5.96 EPS for the current year.

Emerson Electric Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Investors 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 dividend yield of 1.6%. Emerson Electric's dividend payout ratio (DPR) is presently 45.38%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on EMR. KeyCorp increased their price objective on Emerson Electric from $150.00 to $155.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 1st. Bank of America increased their price objective on Emerson Electric from $130.00 to $155.00 and gave the stock a "buy" rating in a research note on Wednesday, July 2nd. Stephens upped their target price on Emerson Electric from $130.00 to $145.00 and gave the company an "equal weight" rating in a report on Wednesday, July 16th. Barclays raised Emerson Electric from an "underweight" rating to an "equal weight" rating and upped their target price for the company from $125.00 to $127.00 in a report on Thursday, August 7th. Finally, Wells Fargo & Company upped their target price on Emerson Electric from $135.00 to $150.00 and gave the company an "overweight" rating in a report on Tuesday, July 1st. Two analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price 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.