Syntax Research Inc. Sells 3,588 Shares of Emerson Electric Co. $EMR

Key Points

• Syntax Research Inc. significantly reduced its stake in Emerson Electric Co. by 93.5%, selling 3,588 shares and retaining just 251 shares worth $33,000 as per recent SEC filings.
• Institutional investors currently own 74.30% of Emerson Electric's stock, with firms like Wellington Management Group and Goldman Sachs increasing their stakes in the company during the first quarter.
• Emerson Electric's stock has received multiple positive ratings upgrades, with analysts setting target prices ranging from $127.00 to $165.00, indicating a consensus rating of "Moderate Buy" with an average target price of $144.88.

Syntax Research Inc. trimmed its holdings in shares of Emerson Electric Co. (NYSE:EMR - Free Report) by 93.5% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 251 shares of the industrial products company's stock after selling 3,588 shares during the quarter. Syntax Research Inc.'s holdings in Emerson Electric were worth $33,000 as of its most recent filing with the SEC.

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

Wall Street Analyst Weigh In

EMR has been the subject of a number of research reports. Daiwa Capital Markets lifted their target price on Emerson Electric from $150.00 to $153.00 and gave the stock an "outperform" rating in a report on Wednesday, September 24th. Bank of America boosted their price target on Emerson Electric from $130.00 to $155.00 and gave the company a "buy" rating in a research note on Wednesday, July 2nd. Citigroup boosted their price target on Emerson Electric from $146.00 to $165.00 and gave the company a "buy" rating in a research note on Monday, July 14th. Barclays raised Emerson Electric from an "underweight" rating to an "equal weight" rating and boosted their price target for the company from $125.00 to $127.00 in a research note on Thursday, August 7th. Finally, Stephens boosted their price target on Emerson Electric from $130.00 to $145.00 and gave the company an "equal weight" rating in a research note on Wednesday, July 16th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $144.88.

Emerson Electric Price Performance

Emerson Electric stock opened at $132.90 on Friday. The stock has a market capitalization of $74.79 billion, a price-to-earnings ratio of 28.58, a PEG ratio of 2.31 and a beta of 1.29. Emerson Electric Co. has a 52-week low of $90.06 and a 52-week high of $150.27. The stock's 50 day moving average price is $134.43 and its two-hundred day moving average price is $124.39. 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 (NYSE:EMR - Get Free Report) last issued its earnings results on Wednesday, August 6th. The industrial products company reported $1.52 earnings per share for the quarter, topping analysts' consensus estimates of $1.51 by $0.01. Emerson Electric had a return on equity of 14.34% and a net margin of 14.92%.The company 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 firm earned $1.43 earnings per share. Emerson Electric's revenue for the quarter was up 3.9% on a year-over-year basis. On average, equities analysts predict 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 $0.5275 dividend. This represents a $2.11 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date of this dividend was Friday, August 15th. Emerson Electric's dividend payout ratio is presently 45.38%.

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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