Meiji Yasuda Asset Management Co Ltd. Sells 29,550 Shares of Emerson Electric Co. $EMR

Key Points

• Meiji Yasuda Asset Management Co Ltd. has reduced its stake in Emerson Electric Co. by 27.8%, selling 29,550 shares and now holding 76,773 shares valued at approximately $8.4 million.
• Analysts have raised their price targets for Emerson Electric, with estimates ranging from $133 to $165, reflecting a generally positive outlook and multiple "buy" ratings.
• Emerson Electric recently announced a quarterly dividend of $0.5275 per share, with a corresponding annualized dividend yield of 1.6%.

Meiji Yasuda Asset Management Co Ltd. lessened its stake in shares of Emerson Electric Co. (NYSE:EMR - Free Report) by 27.8% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 76,773 shares of the industrial products company's stock after selling 29,550 shares during the period. Meiji Yasuda Asset Management Co Ltd.'s holdings in Emerson Electric were worth $8,417,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Orion Capital Management LLC bought a new position in Emerson Electric during the 4th quarter worth $25,000. Vega Investment Solutions bought a new position in Emerson Electric during the 4th quarter worth $27,000. Saudi Central Bank bought a new position in Emerson Electric during the 1st quarter worth $25,000. Ameriflex Group Inc. bought a new position in shares of Emerson Electric in the 4th quarter valued at $30,000. Finally, MJT & Associates Financial Advisory Group Inc. bought a new position in shares of Emerson Electric in the 1st quarter valued at $27,000. Institutional investors own 74.30% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on EMR shares. Wells Fargo & Company lifted their price target on Emerson Electric from $135.00 to $150.00 and gave the company an "overweight" rating in a research note on Tuesday, July 1st. Citigroup lifted their price target on Emerson Electric from $146.00 to $165.00 and gave the company a "buy" rating in a research note on Monday, July 14th. JPMorgan Chase & Co. lifted their price target on shares of Emerson Electric from $113.00 to $133.00 and gave the company a "neutral" rating in a report on Friday, May 16th. Bank of America lifted their price target on shares of Emerson Electric from $130.00 to $155.00 and gave the company a "buy" rating in a report on Wednesday, July 2nd. Finally, KeyCorp lifted their price target on shares of Emerson Electric from $150.00 to $155.00 and gave the company an "overweight" rating in a report on Tuesday, July 1st. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $142.39.

Emerson Electric Trading Down 0.4%

NYSE EMR opened at $132.54 on Monday. The business's 50-day moving average price is $137.59 and its two-hundred day moving average price is $122.38. Emerson Electric Co. has a 12 month low of $90.06 and a 12 month high of $150.27. The firm has a market capitalization of $74.59 billion, a PE ratio of 28.50, a price-to-earnings-growth ratio of 2.58 and a beta of 1.30. 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 released its quarterly 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. Emerson Electric had a return on equity of 14.34% and a net margin of 14.92%.The firm had revenue of $4.55 billion for the quarter, compared to analyst estimates of $4.60 billion. During the same quarter in the previous year, the company posted $1.43 EPS. The business's revenue was up 3.9% on a year-over-year basis. On average, analysts expect that Emerson Electric Co. will post 5.96 EPS for the current year.

Emerson Electric Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Friday, August 15th will be given a $0.5275 dividend. 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 payout ratio is 45.38%.

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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