NewEdge Advisors LLC Sells 37,142 Shares of Emerson Electric Co. $EMR

Key Points

• NewEdge Advisors LLC reduced its holdings in Emerson Electric Co. by 38.5%, selling 37,142 shares during the first quarter, bringing their ownership to 59,278 shares valued at approximately $6.5 million.
• Emerson Electric's quarterly earnings exceeded expectations, reporting $1.52 earnings per share, while revenue reached $4.55 billion, slightly below estimates.
• The company declared a quarterly dividend of $0.5275 per share, creating an annualized dividend yield of 1.6% for shareholders of record as of August 15th.

NewEdge Advisors LLC lowered its stake in shares of Emerson Electric Co. (NYSE:EMR - Free Report) by 38.5% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 59,278 shares of the industrial products company's stock after selling 37,142 shares during the period. NewEdge Advisors LLC's holdings in Emerson Electric were worth $6,499,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. First Horizon Advisors Inc. lifted its holdings in shares of Emerson Electric by 2.7% during 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 purchasing an additional 5,504 shares in the last quarter. North Capital Inc. bought a new position in shares of Emerson Electric during the 1st quarter valued at about $211,000. Zurich Insurance Group Ltd FI bought a new position in shares of Emerson Electric during the 4th quarter valued at about $3,003,000. Golden State Equity Partners bought a new position in shares of Emerson Electric during the 1st quarter valued at about $459,000. Finally, Truist Financial Corp lifted its holdings in shares of 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 valued at $118,259,000 after purchasing an additional 18,069 shares in the last quarter. Institutional investors own 74.30% of the company's stock.

Emerson Electric Stock Down 0.4%

NYSE:EMR opened at $132.54 on Monday. The firm has a market capitalization of $74.59 billion, a price-to-earnings ratio of 28.50, a price-to-earnings-growth ratio of 2.58 and a beta of 1.30. Emerson Electric Co. has a twelve month low of $90.06 and a twelve month high of $150.27. The stock's 50 day moving average price is $137.59 and its two-hundred day moving average price is $122.38. 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 (NYSE:EMR - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The industrial products company reported $1.52 earnings per share for the quarter, topping the consensus estimate of $1.51 by $0.01. The firm had revenue of $4.55 billion for the quarter, compared to analyst estimates of $4.60 billion. Emerson Electric had a return on equity of 14.34% and a net margin of 14.92%.The business's quarterly revenue was up 3.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.43 EPS. Equities research analysts expect that Emerson Electric Co. will post 5.96 earnings per share for the current fiscal 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 dividend of $0.5275 per share. The ex-dividend date of this dividend is Friday, August 15th. This represents a $2.11 annualized dividend and a dividend yield of 1.6%. Emerson Electric's payout ratio is 45.38%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on EMR shares. Stephens lifted their price objective on Emerson Electric from $130.00 to $145.00 and gave the company an "equal weight" rating in a report on Wednesday, July 16th. Bank of America boosted their target price on Emerson Electric from $130.00 to $155.00 and gave the company a "buy" rating in a research note on Wednesday, July 2nd. JPMorgan Chase & Co. boosted 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. KeyCorp boosted their target price on Emerson Electric from $150.00 to $155.00 and gave the company an "overweight" rating in a research note on Tuesday, July 1st. Finally, TD Cowen upgraded Emerson Electric to a "strong-buy" rating in a research note on Tuesday, July 8th. Two research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $142.39.

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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