Mirae Asset Global Investments Co. Ltd. Buys 7,564 Shares of Emerson Electric Co. $EMR

Key Points

• Mirae Asset Global Investments Co. Ltd. increased its stake in Emerson Electric by 11.9%, acquiring an additional 7,564 shares, bringing its total ownership to 71,228 shares worth approximately $9.5 million.
• Emerson Electric reported a quarterly earnings beat with $1.52 earnings per share, slightly above the consensus estimate, despite revenue falling short of expectations at $4.55 billion.
• The company has attracted a variety of institutional investors, with overall institutional ownership at 74.3%, and multiple analysts have raised their price targets significantly, reflecting a general confidence in the stock.

Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Emerson Electric Co. (NYSE:EMR - Free Report) by 11.9% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 71,228 shares of the industrial products company's stock after acquiring an additional 7,564 shares during the quarter. Mirae Asset Global Investments Co. Ltd.'s holdings in Emerson Electric were worth $9,497,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the company. First Horizon Advisors Inc. grew its holdings in shares of Emerson Electric by 2.7% during the first quarter. First Horizon Advisors Inc. now owns 212,252 shares of the industrial products company's stock valued at $23,271,000 after buying an additional 5,504 shares during the last quarter. North Capital Inc. bought a new stake in shares of Emerson Electric in the 1st quarter worth $211,000. Davis Investment Partners LLC purchased a new position in shares of Emerson Electric in the second quarter worth $692,000. Golden State Equity Partners bought a new position in shares of Emerson Electric during the first quarter valued at $459,000. Finally, Truist Financial Corp boosted its position in shares of Emerson Electric by 1.7% during the first quarter. Truist Financial Corp now owns 1,078,616 shares of the industrial products company's stock valued at $118,259,000 after buying an additional 18,069 shares during the last quarter. Institutional investors own 74.30% of the company's stock.

Emerson Electric Trading Up 1.3%

Shares of NYSE:EMR opened at $134.79 on Monday. The stock has a 50 day moving average of $134.13 and a 200 day moving average of $124.73. The company has a market cap of $75.86 billion, a PE ratio of 28.99, a price-to-earnings-growth ratio of 2.34 and a beta of 1.29. Emerson Electric Co. has a 12-month low of $90.06 and a 12-month high of $150.27. 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 issued its quarterly earnings results on Wednesday, August 6th. The industrial products company reported $1.52 earnings per share for the quarter, beating the consensus estimate of $1.51 by $0.01. The business had revenue of $4.55 billion for the quarter, compared to the consensus estimate 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 for the quarter was up 3.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.43 earnings per share. As a group, equities research analysts expect that Emerson Electric Co. will post 5.96 EPS for the current year.

Emerson Electric Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Friday, August 15th were given a $0.5275 dividend. This represents a $2.11 annualized dividend and a dividend yield of 1.6%. The ex-dividend date was Friday, August 15th. Emerson Electric's payout ratio is presently 45.38%.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. Wells Fargo & Company upped their target price on shares of Emerson Electric from $135.00 to $150.00 and gave the company an "overweight" rating in a research note on Tuesday, July 1st. Deutsche Bank Aktiengesellschaft raised their target price on shares of Emerson Electric from $157.00 to $159.00 and gave the stock a "buy" rating in a report on Thursday. Citigroup boosted their target price on shares of Emerson Electric from $146.00 to $165.00 and gave the company a "buy" rating in a research note on Monday, July 14th. Daiwa Capital Markets lifted their price objective on Emerson Electric from $150.00 to $153.00 and gave the stock an "outperform" rating in a report on Wednesday, September 24th. Finally, Barclays upgraded Emerson Electric from an "underweight" rating to an "equal weight" rating and upped their price objective for the company from $125.00 to $127.00 in a research report on Thursday, August 7th. Two equities 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 company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $144.88.

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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