State of Alaska Department of Revenue Sells 2,870 Shares of Emerson Electric Co. $EMR

Key Points

• The State of Alaska Department of Revenue has reduced its stake in Emerson Electric Co. by 4.3%, selling 2,870 shares and now holding a total of 63,166 shares valued at approximately $8.42 million.
• Emerson Electric reported earnings of $1.52 per share for the latest quarter, exceeding analysts' estimates, while revenue was slightly below expectations at $4.55 billion.
• The company announced a quarterly dividend of $0.5275 per share, yielding 1.6%, with a current dividend payout ratio of 45.38%.

State of Alaska Department of Revenue lowered its stake in shares of Emerson Electric Co. (NYSE:EMR - Free Report) by 4.3% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 63,166 shares of the industrial products company's stock after selling 2,870 shares during the quarter. State of Alaska Department of Revenue's holdings in Emerson Electric were worth $8,421,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently added to or reduced their stakes in the company. Saudi Central Bank purchased a new stake in Emerson Electric during the first quarter valued at approximately $25,000. MJT & Associates Financial Advisory Group Inc. purchased a new stake in shares of Emerson Electric in the first quarter valued at $27,000. Inlight Wealth Management LLC bought a new position in shares of Emerson Electric during the first quarter valued at approximately $28,000. Fourth Dimension Wealth LLC increased its stake in Emerson Electric by 145.3% in the 1st quarter. Fourth Dimension Wealth LLC now owns 260 shares of the industrial products company's stock worth $29,000 after buying an additional 154 shares during the period. Finally, Garde Capital Inc. bought a new stake in Emerson Electric during the 1st quarter valued at $36,000. 74.30% of the stock is currently owned by hedge funds and other institutional investors.

Emerson Electric Trading Down 1.1%

NYSE EMR opened at $128.70 on Friday. The company has a market capitalization of $72.43 billion, a PE ratio of 27.68, a price-to-earnings-growth ratio of 2.44 and a beta of 1.30. The firm's fifty day simple moving average is $135.56 and its 200-day simple moving average is $123.94. Emerson Electric Co. has a 1-year low of $90.06 and a 1-year high of $150.27. The company has a current ratio of 0.85, a quick ratio of 0.63 and a debt-to-equity ratio of 0.42.

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, beating analysts' consensus estimates 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 last year, the business posted $1.43 EPS. Emerson Electric's revenue was up 3.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that Emerson Electric Co. will post 5.96 earnings per share for the current fiscal year.

Emerson Electric Announces Dividend

The firm 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 dividend on an annualized basis and a yield of 1.6%. Emerson Electric's dividend payout ratio is presently 45.38%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. Bank of America lifted their price objective on shares of Emerson Electric from $130.00 to $155.00 and gave the stock a "buy" rating in a research report on Wednesday, July 2nd. TD Cowen raised Emerson Electric to a "strong-buy" rating in a research note on Tuesday, July 8th. Stephens increased their price target on Emerson Electric from $130.00 to $145.00 and gave the company an "equal weight" rating in a research report on Wednesday, July 16th. Citigroup raised their target price on shares of Emerson Electric from $146.00 to $165.00 and gave the stock a "buy" rating in a research note on Monday, July 14th. Finally, Wells Fargo & Company raised their price objective on Emerson Electric from $135.00 to $150.00 and gave the stock an "overweight" rating in a report on Tuesday, July 1st. Two equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $143.76.

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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