Mitchell Sinkler & Starr PA Cuts Position in Emerson Electric Co. $EMR

Key Points

• Mitchell Sinkler & Starr PA reduced its stake in Emerson Electric Co. by 77.7%, owning 17,613 shares after selling 61,400 shares in Q2.
• As of the latest filings, Emerson Electric represents 1.1% of its portfolio, valued at approximately $2,348,000.
• Several brokerages have recently updated their ratings for Emerson Electric, with price targets ranging from $127.00 to $165.00, reflecting a generally positive outlook.

Mitchell Sinkler & Starr PA cut its stake in Emerson Electric Co. (NYSE:EMR - Free Report) by 77.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 17,613 shares of the industrial products company's stock after selling 61,400 shares during the quarter. Emerson Electric comprises about 1.1% of Mitchell Sinkler & Starr PA's portfolio, making the stock its 26th biggest position. Mitchell Sinkler & Starr PA's holdings in Emerson Electric were worth $2,348,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. First Horizon Advisors Inc. increased its holdings in shares of Emerson Electric by 2.7% in the 1st quarter. First Horizon Advisors Inc. now owns 212,252 shares of the industrial products company's stock valued at $23,271,000 after acquiring an additional 5,504 shares during the period. Davis Investment Partners LLC purchased a new position in shares of Emerson Electric in the 2nd quarter valued at $692,000. North Capital Inc. purchased a new position in Emerson Electric during the 1st quarter worth $211,000. Golden State Equity Partners purchased a new position in Emerson Electric during the 1st quarter worth $459,000. Finally, Truist Financial Corp grew its stake in Emerson Electric by 1.7% during the 1st quarter. Truist Financial Corp now owns 1,078,616 shares of the industrial products company's stock worth $118,259,000 after buying an additional 18,069 shares during the last quarter. 74.30% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages recently weighed in on EMR. Barclays upgraded Emerson Electric from an "underweight" rating to an "equal weight" rating and boosted their target price for the stock from $125.00 to $127.00 in a research note on Thursday, August 7th. Wells Fargo & Company restated an "equal weight" rating and set a $140.00 target price (down from $150.00) on shares of Emerson Electric in a research note on Monday, October 6th. Citigroup boosted their target price on 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 upgraded Emerson Electric to a "strong-buy" rating in a research note on Tuesday, July 8th. Finally, Bank of America boosted their target price on Emerson Electric from $130.00 to $155.00 and gave the stock a "buy" rating in a research note on Wednesday, July 2nd. Two investment analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $144.29.

Emerson Electric Stock Performance

Shares of EMR opened at $125.99 on Friday. The stock has a 50-day moving average of $132.66 and a two-hundred day moving average of $125.25. Emerson Electric Co. has a one year low of $90.06 and a one year high of $150.27. 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 $70.91 billion, a P/E ratio of 27.09, a P/E/G ratio of 2.19 and a beta of 1.29.

Emerson Electric (NYSE:EMR - Get Free Report) last issued its quarterly earnings results on Thursday, April 6th. The industrial products company reported $0.79 EPS for the quarter. The company had revenue of $3.16 billion during the quarter. Emerson Electric had a return on equity of 14.34% and a net margin of 14.92%. As a group, research analysts predict that Emerson Electric Co. will post 5.96 EPS for the current year.

Emerson Electric Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Friday, August 15th were issued a $0.5275 dividend. This represents a $2.11 annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend was Friday, August 15th. Emerson Electric's payout ratio 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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