Parallel Advisors LLC Reduces Holdings in Emerson Electric Co. $EMR

Key Points

• Parallel Advisors LLC reduced its stake in Emerson Electric Co. by 18.0%, owning 28,513 shares worth $3.8 million after selling 6,271 shares in Q2.
• Analysts have recently upgraded their ratings and price targets for Emerson Electric, with TD Cowen designating it as a "strong-buy" and Citigroup increasing their target to $165.00.
• Emerson Electric's quarterly earnings report showed a slight earnings per share beat at $1.52, although revenue was slightly below expectations at $4.55 billion.

Parallel Advisors LLC lowered its stake in Emerson Electric Co. (NYSE:EMR - Free Report) by 18.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 28,513 shares of the industrial products company's stock after selling 6,271 shares during the period. Parallel Advisors LLC's holdings in Emerson Electric were worth $3,802,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. First Horizon Advisors Inc. boosted its holdings in shares of Emerson Electric by 2.7% in 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 purchasing an additional 5,504 shares during the period. North Capital Inc. bought a new position in Emerson Electric in the first quarter worth approximately $211,000. Zurich Insurance Group Ltd FI bought a new position in Emerson Electric in the fourth quarter worth approximately $3,003,000. Golden State Equity Partners bought a new position in Emerson Electric in the first quarter worth approximately $459,000. Finally, Truist Financial Corp raised its stake in Emerson Electric by 1.7% in the first 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 in the last quarter. Institutional investors own 74.30% of the company's stock.

Emerson Electric Price Performance

Shares of EMR stock traded up $0.45 during mid-day trading on Friday, hitting $132.36. 3,768,798 shares of the stock were exchanged, compared to its average volume of 2,773,252. The firm has a fifty day moving average of $136.63 and a 200 day moving average of $123.29. 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 52-week low of $90.06 and a 52-week high of $150.27. The company has a market cap of $74.49 billion, a PE ratio of 28.46, a price-to-earnings-growth ratio of 2.50 and a beta of 1.30.

Emerson Electric (NYSE:EMR - Get Free Report) last posted its earnings results on Wednesday, August 6th. The industrial products company reported $1.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.51 by $0.01. Emerson Electric had a net margin of 14.92% and a return on equity of 14.34%. The business had revenue of $4.55 billion for the quarter, compared to analyst estimates of $4.60 billion. During the same period in the prior year, the company posted $1.43 EPS. The company's revenue for the quarter was up 3.9% on a year-over-year basis. Research analysts anticipate that Emerson Electric Co. will post 5.96 earnings per share for the current year.

Emerson Electric Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Friday, August 15th were given a dividend of $0.5275 per share. 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 dividend payout ratio is 45.38%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on EMR. Stephens boosted their price objective on shares of Emerson Electric from $130.00 to $145.00 and gave the stock an "equal weight" rating in a research note on Wednesday, July 16th. Barclays raised shares of Emerson Electric from an "underweight" rating to an "equal weight" rating and boosted their price objective for the stock from $125.00 to $127.00 in a research note on Thursday, August 7th. Citigroup lifted their price target on shares of Emerson Electric from $146.00 to $165.00 and gave the stock a "buy" rating in a report on Monday, July 14th. KeyCorp lifted their price target on shares of Emerson Electric from $150.00 to $155.00 and gave the stock an "overweight" rating in a report on Tuesday, July 1st. Finally, Bank of America lifted their price target on shares of Emerson Electric from $130.00 to $155.00 and gave the stock a "buy" rating in a report on Wednesday, July 2nd. Two 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 company. Based on data from MarketBeat.com, Emerson Electric has an average rating of "Moderate Buy" and a consensus target price 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.