Great Lakes Advisors LLC Lowers Holdings in Emerson Electric Co. $EMR

Key Points

• Great Lakes Advisors LLC reduced its stake in Emerson Electric Co. by 9.2% during the first quarter, owning 318,007 shares valued at approximately $34.87 million.
• Analysts have generally boosted their price targets for Emerson Electric, with Bank of America raising its target from $130 to $155 and Citigroup from $146 to $165, reflecting a positive outlook on the company's performance.
• Emerson Electric recently declared a quarterly dividend of $0.5275 per share, with an annualized dividend yield of 1.6%, scheduled for payment on September 10th.

Great Lakes Advisors LLC lessened its stake in Emerson Electric Co. (NYSE:EMR - Free Report) by 9.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 318,007 shares of the industrial products company's stock after selling 32,136 shares during the quarter. Great Lakes Advisors LLC owned 0.06% of Emerson Electric worth $34,866,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently modified their holdings of EMR. Brighton Jones LLC raised its position in shares of Emerson Electric by 74.1% in the 4th quarter. Brighton Jones LLC now owns 11,392 shares of the industrial products company's stock worth $1,412,000 after purchasing an additional 4,850 shares during the last quarter. First Manhattan CO. LLC. raised its position in Emerson Electric by 14.4% in the 4th quarter. First Manhattan CO. LLC. now owns 7,742 shares of the industrial products company's stock worth $959,000 after buying an additional 976 shares during the last quarter. Ensign Peak Advisors Inc raised its position in Emerson Electric by 149.7% in the 4th quarter. Ensign Peak Advisors Inc now owns 109,221 shares of the industrial products company's stock worth $13,536,000 after buying an additional 65,488 shares during the last quarter. Focus Partners Wealth raised its position in Emerson Electric by 26.9% in the 4th quarter. Focus Partners Wealth now owns 161,010 shares of the industrial products company's stock worth $20,176,000 after buying an additional 34,177 shares during the last quarter. Finally, Greenline Partners LLC bought a new stake in shares of Emerson Electric during the 4th quarter valued at about $39,000. Hedge funds and other institutional investors own 74.30% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Bank of America boosted their price target on Emerson Electric from $130.00 to $155.00 and gave the company a "buy" rating in a research note on Wednesday, July 2nd. TD Cowen upgraded Emerson Electric to a "strong-buy" rating in a research note on Tuesday, July 8th. Citigroup boosted their price objective on Emerson Electric from $146.00 to $165.00 and gave the company a "buy" rating in a research note on Monday, July 14th. Stephens boosted their price objective on Emerson Electric from $130.00 to $145.00 and gave the company an "equal weight" rating in a research note on Wednesday, July 16th. Finally, JPMorgan Chase & Co. boosted their price objective on Emerson Electric from $113.00 to $133.00 and gave the company a "neutral" rating in a research note on Friday, May 16th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, five have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, Emerson Electric presently has a consensus rating of "Moderate Buy" and an average target price of $142.39.

Emerson Electric Stock Down 0.4%

Shares of EMR opened at $132.54 on Monday. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.85 and a quick ratio of 0.63. The stock has a market capitalization of $74.59 billion, a price-to-earnings ratio of 28.50, a price-to-earnings-growth ratio of 2.58 and a beta of 1.30. Emerson Electric Co. has a 1 year low of $90.06 and a 1 year high of $150.27. The business's 50 day simple moving average is $137.59 and its 200-day simple moving average is $122.38.

Emerson Electric (NYSE:EMR - Get Free Report) last posted its earnings results on Wednesday, August 6th. The industrial products company reported $1.52 EPS for the quarter, beating analysts' consensus estimates of $1.51 by $0.01. The firm had revenue of $4.55 billion during the quarter, compared to the consensus estimate of $4.60 billion. Emerson Electric had a return on equity of 14.34% and a net margin of 14.92%.The company's quarterly revenue was up 3.9% compared to the same quarter last year. During the same period in the prior year, the company earned $1.43 EPS. As a group, equities analysts expect that Emerson Electric Co. will post 5.96 earnings per share for the current fiscal year.

Emerson Electric Dividend Announcement

The company 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 dividend of $0.5275 per share. This represents a $2.11 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date is Friday, August 15th. 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.

Want to see what other hedge funds are holding EMR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Emerson Electric Co. (NYSE:EMR - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.