Iowa State Bank Decreases Position in Emerson Electric Co. $EMR

Key Points

• Iowa State Bank reduced its stake in Emerson Electric Co. by 5.9%, leaving it with 68,897 shares valued at approximately $9.2 million.
• Emerson Electric's stock received several upgrades from analysts, with target prices ranging from $127 to $155, indicating a generally positive outlook.
• The company recently announced a quarterly dividend of $0.5275 per share, representing an annual yield of 1.6%.

Iowa State Bank trimmed its holdings in shares of Emerson Electric Co. (NYSE:EMR - Free Report) by 5.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 68,897 shares of the industrial products company's stock after selling 4,330 shares during the quarter. Emerson Electric accounts for about 1.8% of Iowa State Bank's portfolio, making the stock its 15th largest position. Iowa State Bank's holdings in Emerson Electric were worth $9,186,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Wellington Management Group LLP increased its holdings in shares of Emerson Electric by 6.9% during the first quarter. Wellington Management Group LLP now owns 15,280,950 shares of the industrial products company's stock valued at $1,675,403,000 after acquiring an additional 980,652 shares in the last quarter. JPMorgan Chase & Co. grew its position in Emerson Electric by 9.3% during the 1st quarter. JPMorgan Chase & Co. now owns 7,166,817 shares of the industrial products company's stock worth $785,770,000 after purchasing an additional 611,105 shares during the last quarter. Nuveen LLC acquired a new position in Emerson Electric during the 1st quarter valued at approximately $737,318,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of Emerson Electric by 5.8% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,086,580 shares of the industrial products company's stock worth $448,053,000 after buying an additional 223,831 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its stake in shares of Emerson Electric by 18.0% during the first quarter. Goldman Sachs Group Inc. now owns 3,793,436 shares of the industrial products company's stock worth $415,912,000 after buying an additional 579,653 shares during the period. 74.30% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Stephens raised their target price 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. Weiss Ratings reissued a "buy (b-)" rating on shares of Emerson Electric in a report on Saturday, September 27th. KeyCorp lifted their target price on Emerson Electric from $150.00 to $155.00 and gave the stock an "overweight" rating in a report on Tuesday, July 1st. TD Cowen upgraded Emerson Electric to a "strong-buy" rating in a research report on Tuesday, July 8th. Finally, Barclays raised shares of Emerson Electric from an "underweight" rating to an "equal weight" rating and raised their price target for the stock from $125.00 to $127.00 in a research report on Thursday, August 7th. Two 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 issued a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $144.88.

Emerson Electric Price Performance

NYSE:EMR opened at $134.79 on Monday. The stock has a 50 day moving average of $134.13 and a two-hundred day moving average of $124.73. Emerson Electric Co. has a 12 month low of $90.06 and a 12 month high of $150.27. The firm has a market cap of $75.86 billion, a P/E ratio of 28.99, a price-to-earnings-growth ratio of 2.34 and a beta of 1.29. The company has a current ratio of 0.85, a quick ratio of 0.63 and a debt-to-equity ratio of 0.42.

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

Emerson Electric Announces Dividend

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

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.

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