Rockland Trust Co. Sells 2,727 Shares of Emerson Electric Co. $EMR

Key Points

• Rockland Trust Co. reduced its stake in Emerson Electric Co. by 3.8% in the second quarter, now owning 68,937 shares worth approximately $9.19 million.
• Several large investors increased their positions in Emerson Electric, with notable increases from Atticus Wealth Management (482.3%) and Swedbank AB (3.8%), indicating ongoing confidence in the stock.
• Analysts raised Emerson Electric's target price with Barclays at $127 and Wells Fargo at $150, showing a consensus rating of "Moderate Buy" with a target price of around $142.39.

Rockland Trust Co. lowered its stake in shares of Emerson Electric Co. (NYSE:EMR - Free Report) by 3.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 68,937 shares of the industrial products company's stock after selling 2,727 shares during the quarter. Rockland Trust Co.'s holdings in Emerson Electric were worth $9,191,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the stock. Orion Capital Management LLC bought a new position in Emerson Electric in the 4th quarter valued at $25,000. Saudi Central Bank bought a new position in Emerson Electric in the 1st quarter valued at $25,000. Vega Investment Solutions bought a new position in Emerson Electric in the 4th quarter valued at $27,000. MJT & Associates Financial Advisory Group Inc. bought a new position in Emerson Electric in the 1st quarter valued at $27,000. Finally, Inlight Wealth Management LLC bought a new position in Emerson Electric in the 1st quarter valued at $28,000. Institutional investors own 74.30% of the company's stock.

Emerson Electric Stock Up 0.4%

NYSE:EMR traded up $0.54 during trading hours on Monday, reaching $132.88. 3,109,301 shares of the company traded hands, compared to its average volume of 2,779,784. Emerson Electric Co. has a 1 year low of $90.06 and a 1 year high of $150.27. The business's 50-day moving average price is $136.49 and its two-hundred day moving average price is $123.49. The company has a current ratio of 0.85, a quick ratio of 0.63 and a debt-to-equity ratio of 0.42. The stock has a market capitalization of $74.78 billion, a P/E ratio of 28.58, a P/E/G ratio of 2.51 and a beta of 1.30.

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. Emerson Electric had a return on equity of 14.34% and a net margin of 14.92%.The firm had revenue of $4.55 billion during the quarter, compared to analysts' expectations of $4.60 billion. During the same quarter in the previous year, the business earned $1.43 earnings per share. The company's revenue was up 3.9% on a year-over-year basis. Analysts predict that Emerson Electric Co. will post 5.96 earnings per share for the current year.

Emerson Electric Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Friday, August 15th were issued 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 was Friday, August 15th. Emerson Electric's payout ratio is currently 45.38%.

Analyst Ratings Changes

EMR has been the subject of several research reports. Stephens increased their price target on Emerson Electric from $130.00 to $145.00 and gave the stock an "equal weight" rating in a research note on Wednesday, July 16th. Wells Fargo & Company increased their price target on Emerson Electric from $135.00 to $150.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 1st. 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. Barclays upgraded Emerson Electric from an "underweight" rating to an "equal weight" rating and increased their price target for the stock from $125.00 to $127.00 in a research note on Thursday, August 7th. Finally, TD Cowen raised Emerson Electric to a "strong-buy" rating in a report 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 stock presently has an average rating of "Moderate Buy" and an average target price 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.