Prime Capital Investment Advisors LLC Sells 7,545 Shares of Emerson Electric Co. $EMR

Key Points

• Prime Capital Investment Advisors LLC reduced its holdings in Emerson Electric Co. by 17.8%, selling 7,545 shares, and ending the quarter with 34,908 shares valued at approximately $4.65 million.
• Multiple hedge funds have increased their stakes in Emerson Electric, with Goldman Sachs raising its position by 18.0%, while Wellington Management increased by 6.9% during the first quarter.
• Emerson Electric recently announced a quarterly dividend of $0.5275 per share, representing an annual yield of 1.6% and a payout ratio of 45.38%.

Prime Capital Investment Advisors LLC cut its holdings in shares of Emerson Electric Co. (NYSE:EMR - Free Report) by 17.8% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 34,908 shares of the industrial products company's stock after selling 7,545 shares during the quarter. Prime Capital Investment Advisors LLC's holdings in Emerson Electric were worth $4,654,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Wellington Management Group LLP raised its position in Emerson Electric by 6.9% in the first quarter. Wellington Management Group LLP now owns 15,280,950 shares of the industrial products company's stock worth $1,675,403,000 after acquiring an additional 980,652 shares during the period. JPMorgan Chase & Co. raised its holdings in shares of Emerson Electric by 9.3% in the 1st quarter. JPMorgan Chase & Co. now owns 7,166,817 shares of the industrial products company's stock worth $785,770,000 after purchasing an additional 611,105 shares during the period. Nuveen LLC purchased a new position in Emerson Electric in the first quarter valued at approximately $737,318,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in Emerson Electric by 5.8% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,086,580 shares of the industrial products company's stock valued at $448,053,000 after purchasing an additional 223,831 shares during the period. Finally, Goldman Sachs Group Inc. increased its position in Emerson Electric by 18.0% in the first quarter. Goldman Sachs Group Inc. now owns 3,793,436 shares of the industrial products company's stock worth $415,912,000 after buying an additional 579,653 shares during the last quarter. 74.30% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. KeyCorp increased their price target on Emerson Electric from $150.00 to $155.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 1st. Deutsche Bank Aktiengesellschaft increased their target price on shares of Emerson Electric from $157.00 to $159.00 and gave the stock a "buy" rating in a research report on Thursday, October 2nd. Bank of America upped their price target on shares of Emerson Electric from $130.00 to $155.00 and gave the company a "buy" rating in a research note on Wednesday, July 2nd. Weiss Ratings reiterated a "buy (b-)" rating on shares of Emerson Electric in a research note on Saturday, September 27th. Finally, TD Cowen upgraded Emerson Electric to a "strong-buy" rating in a research report on Tuesday, July 8th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $144.29.

Emerson Electric Trading Up 0.0%

Emerson Electric stock opened at $134.82 on Tuesday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.63 and a current ratio of 0.85. Emerson Electric Co. has a fifty-two week low of $90.06 and a fifty-two week high of $150.27. The stock has a market cap of $75.88 billion, a P/E ratio of 28.99, a PEG ratio of 2.34 and a beta of 1.29. The firm's fifty day moving average price is $133.84 and its 200-day moving average price is $124.88.

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

Emerson Electric Announces Dividend

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

About Emerson Electric

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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