Lewis Asset Management LLC Acquires New Holdings in Emerson Electric Co. $EMR

Key Points

• Lewis Asset Management LLC acquired a new stake in Emerson Electric Co., purchasing 3,476 shares valued at approximately $463,000. This reflects growing interest from institutional investors in the company.
• Emerson Electric reported earnings of $1.52 per share for the last quarter, surpassing analysts' expectations and showing a revenue increase of 3.9% year-over-year.
• The company announced a quarterly dividend of $0.5275 per share, providing an annualized yield of 1.6%, with a payout ratio of 45.38%.

Lewis Asset Management LLC bought a new stake in shares of Emerson Electric Co. (NYSE:EMR - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 3,476 shares of the industrial products company's stock, valued at approximately $463,000.

Other large investors have also recently bought and sold shares of the company. Saudi Central Bank acquired a new position in Emerson Electric during the 1st quarter valued at about $25,000. Ameriflex Group Inc. acquired a new position in Emerson Electric during the 4th quarter valued at about $30,000. MJT & Associates Financial Advisory Group Inc. acquired a new position in Emerson Electric during the 1st quarter valued at about $27,000. Inlight Wealth Management LLC acquired a new position in Emerson Electric during the 1st quarter valued at about $28,000. Finally, Fourth Dimension Wealth LLC grew its stake 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 purchasing an additional 154 shares during the last quarter. Institutional investors and hedge funds own 74.30% of the company's stock.

Emerson Electric Stock Performance

EMR stock opened at $132.36 on Monday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.63 and a current ratio of 0.85. The stock has a market cap of $74.49 billion, a P/E ratio of 28.46, a P/E/G ratio of 2.51 and a beta of 1.30. The firm has a 50 day simple moving average of $136.63 and a 200 day simple moving average of $123.39. Emerson Electric Co. has a 52 week low of $90.06 and a 52 week high of $150.27.

Emerson Electric (NYSE:EMR - Get Free Report) last posted its earnings results on Wednesday, August 6th. The industrial products company reported $1.52 earnings per share (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 analysts' expectations of $4.60 billion. Emerson Electric had a net margin of 14.92% and a return on equity of 14.34%. The company's revenue was up 3.9% compared to the same quarter last year. During the same period in the previous year, the company earned $1.43 earnings per share. Research analysts anticipate that Emerson Electric Co. will post 5.96 earnings per share for the current fiscal year.

Emerson Electric Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Friday, August 15th were paid a $0.5275 dividend. 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 payout ratio is 45.38%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. Citigroup lifted their price objective 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. TD Cowen raised shares of Emerson Electric to a "strong-buy" rating in a research note on Tuesday, July 8th. Stephens lifted their price objective 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. KeyCorp lifted their price objective on shares of Emerson Electric from $150.00 to $155.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 1st. Finally, Bank of America lifted their price objective 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 equities research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $142.39.

Emerson Electric 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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