MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Has $250.18 Million Holdings in Emerson Electric Co. $EMR

Key Points

• MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. has decreased its holdings in Emerson Electric Co. by 9.4%, selling 237,340 shares and now owning 2,281,977 shares worth approximately $250.2 million.
• Emerson Electric reported a quarterly earnings per share (EPS) of $1.52, slightly exceeding the consensus estimate of $1.51, with a revenue of $4.55 billion.
• The company recently declared a quarterly dividend of $0.5275 per share, with a projected annualized dividend yield of 1.6%.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. reduced its position in Emerson Electric Co. (NYSE:EMR - Free Report) by 9.4% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,281,977 shares of the industrial products company's stock after selling 237,340 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned about 0.41% of Emerson Electric worth $250,175,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Gotham Asset Management LLC increased its holdings in shares of Emerson Electric by 1.1% during the 1st quarter. Gotham Asset Management LLC now owns 216,790 shares of the industrial products company's stock valued at $23,769,000 after acquiring an additional 2,438 shares during the last quarter. DnB Asset Management AS increased its holdings in shares of Emerson Electric by 5.6% during the 1st quarter. DnB Asset Management AS now owns 916,663 shares of the industrial products company's stock valued at $100,503,000 after acquiring an additional 48,226 shares during the last quarter. Eventide Asset Management LLC acquired a new position in shares of Emerson Electric during the 1st quarter valued at about $349,000. Clark Capital Management Group Inc. increased its holdings in shares of Emerson Electric by 3.8% during the 1st quarter. Clark Capital Management Group Inc. now owns 6,274 shares of the industrial products company's stock valued at $688,000 after acquiring an additional 232 shares during the last quarter. Finally, Alliancebernstein L.P. increased its holdings in shares of 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 valued at $270,672,000 after acquiring an additional 1,693,999 shares during the last quarter. 74.30% of the stock is owned by institutional investors and hedge funds.

Emerson Electric Stock Performance

Shares of EMR stock traded up $1.64 during mid-day trading on Wednesday, reaching $133.69. The stock had a trading volume of 1,045,029 shares, compared to its average volume of 3,117,675. The firm's 50 day simple moving average is $137.50 and its 200 day simple moving average is $122.52. The company has a quick ratio of 0.63, a current ratio of 0.85 and a debt-to-equity ratio of 0.42. Emerson Electric Co. has a one year low of $90.06 and a one year high of $150.27. The firm has a market cap of $75.24 billion, a PE ratio of 28.75, a P/E/G ratio of 2.59 and a beta of 1.30.

Emerson Electric (NYSE:EMR - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The industrial products company reported $1.52 EPS for the quarter, topping 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 company had revenue of $4.55 billion during the quarter, compared to the consensus estimate of $4.60 billion. During the same quarter last year, the company earned $1.43 EPS. The company's quarterly revenue was up 3.9% on a year-over-year basis. On average, analysts forecast that Emerson Electric Co. will post 5.96 EPS for the current year.

Emerson Electric Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Friday, August 15th will be issued a $0.5275 dividend. The ex-dividend date of this dividend is 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 is presently 45.38%.

Analysts Set New Price Targets

A number of brokerages have recently commented on EMR. Bank of America increased their price objective on Emerson Electric from $130.00 to $155.00 and gave the company a "buy" rating in a report on Wednesday, July 2nd. TD Cowen upgraded Emerson Electric to a "strong-buy" rating in a research note on Tuesday, July 8th. Barclays upgraded Emerson Electric from an "underweight" rating to an "equal weight" rating and increased their target price for the company from $125.00 to $127.00 in a research note on Thursday, August 7th. JPMorgan Chase & Co. increased their target price on Emerson Electric from $113.00 to $133.00 and gave the company a "neutral" rating in a research note on Friday, May 16th. Finally, Stephens increased their target price 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. Two 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 assigned a Sell rating to the stock. According to data from MarketBeat.com, Emerson Electric currently has an average rating of "Moderate Buy" and an average 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.