Raymond James Financial Inc. Sells 118,945 Shares of Emerson Electric Co. (NYSE:EMR)

Key Points

• Raymond James Financial Inc. has reduced its stake in Emerson Electric Co. by 4.9%, selling 118,945 shares, leaving it with approximately 2.28 million shares valued at around $250.55 million.
• Emerson Electric's quarterly earnings report showed $1.52 earnings per share, exceeding estimates, with revenue of $4.55 billion, representing a 3.9% increase year-over-year.
• The company recently declared a quarterly dividend of $0.5275 per share, resulting in an annualized yield of 1.6%, with the ex-dividend date set for August 15th.

Raymond James Financial Inc. decreased its position in shares of Emerson Electric Co. (NYSE:EMR - Free Report) by 4.9% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,285,216 shares of the industrial products company's stock after selling 118,945 shares during the period. Raymond James Financial Inc. owned approximately 0.41% of Emerson Electric worth $250,551,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of EMR. Nuveen LLC bought a new position in Emerson Electric during the first quarter valued at $737,318,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its position in Emerson Electric by 3,866.2% during the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 3,022,517 shares of the industrial products company's stock valued at $374,581,000 after acquiring an additional 2,946,310 shares during the last quarter. Pacer Advisors Inc. increased its position in Emerson Electric by 4,583.7% during the first quarter. Pacer Advisors Inc. now owns 2,185,049 shares of the industrial products company's stock valued at $239,569,000 after acquiring an additional 2,138,397 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in Emerson Electric by 210.8% during the first quarter. Massachusetts Financial Services Co. MA now owns 1,966,453 shares of the industrial products company's stock valued at $215,602,000 after acquiring an additional 1,333,839 shares during the last quarter. Finally, GAMMA Investing LLC boosted its stake in shares of Emerson Electric by 12,707.7% during the first quarter. GAMMA Investing LLC now owns 1,126,441 shares of the industrial products company's stock valued at $123,503,000 after purchasing an additional 1,117,646 shares during the period. Institutional investors own 74.30% of the company's stock.

Emerson Electric Stock Performance

Shares of Emerson Electric stock opened at $131.78 on Friday. 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 company has a market capitalization of $74.17 billion, a PE ratio of 28.34, a P/E/G ratio of 2.57 and a beta of 1.32. The company has a 50-day simple moving average of $136.53 and a two-hundred day simple moving average of $121.77.

Emerson Electric (NYSE:EMR - Get Free Report) last released its 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 company 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%. Emerson Electric's revenue was up 3.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.43 EPS. Research analysts expect that Emerson Electric Co. will post 5.96 EPS for the current fiscal year.

Emerson Electric Dividend Announcement

The business also recently announced 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. This represents a $2.11 annualized dividend and a yield of 1.6%. The ex-dividend date of this dividend is Friday, August 15th. Emerson Electric's payout ratio is currently 45.38%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on EMR. Bank of America boosted their target price 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. Barclays raised shares of Emerson Electric from an "underweight" rating to an "equal weight" rating and boosted their target price for the company from $125.00 to $127.00 in a research note on Thursday, August 7th. Royal Bank Of Canada boosted their target price on shares of Emerson Electric from $123.00 to $124.00 and gave the company an "outperform" rating in a research note on Thursday, May 8th. Stephens boosted their target price on shares of Emerson Electric from $130.00 to $145.00 and gave the company an "equal weight" rating in a research note on Wednesday, July 16th. Finally, Robert W. Baird lowered their target price on shares of Emerson Electric from $140.00 to $130.00 and set a "neutral" rating for the company in a research note on Thursday, May 8th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Emerson Electric has a consensus rating of "Moderate Buy" and an average 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.

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