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Truist Financial Corp Raises Position in Emerson Electric Co. (NYSE:EMR)

Emerson Electric logo with Industrials background

Truist Financial Corp raised its position in Emerson Electric Co. (NYSE:EMR - Free Report) by 1.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,078,616 shares of the industrial products company's stock after buying an additional 18,069 shares during the period. Truist Financial Corp owned about 0.19% of Emerson Electric worth $118,259,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of EMR. Norges Bank acquired a new stake in Emerson Electric in the 4th quarter worth about $885,886,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its stake in Emerson Electric by 3,866.2% in the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 3,022,517 shares of the industrial products company's stock worth $374,581,000 after purchasing an additional 2,946,310 shares in the last quarter. Raymond James Financial Inc. purchased a new position in Emerson Electric in the 4th quarter worth approximately $297,947,000. Boston Partners lifted its stake in Emerson Electric by 136.3% in the 4th quarter. Boston Partners now owns 3,316,466 shares of the industrial products company's stock worth $411,944,000 after purchasing an additional 1,913,120 shares in the last quarter. Finally, GAMMA Investing LLC lifted its stake in Emerson Electric by 12,707.7% in the 1st quarter. GAMMA Investing LLC now owns 1,126,441 shares of the industrial products company's stock worth $123,503,000 after purchasing an additional 1,117,646 shares in the last quarter. 74.30% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Wall Street Zen raised shares of Emerson Electric from a "hold" rating to a "buy" rating in a research note on Friday, May 9th. Barclays raised their target price on shares of Emerson Electric from $112.00 to $118.00 and gave the stock an "underweight" rating in a research note on Monday, June 9th. JPMorgan Chase & Co. lifted their price target on shares of Emerson Electric from $113.00 to $133.00 and gave the company a "neutral" rating in a research report on Friday, May 16th. Bank of America lifted their price target on shares of Emerson Electric from $130.00 to $155.00 and gave the company a "buy" rating in a research report on Wednesday. Finally, Robert W. Baird reduced their price target on shares of Emerson Electric from $140.00 to $130.00 and set a "neutral" rating on the stock in a research report on Thursday, May 8th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $138.61.

Get Our Latest Analysis on Emerson Electric

Insider Transactions at Emerson Electric

In other Emerson Electric news, CEO Surendralal Lanca Karsanbhai sold 16,698 shares of the stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $113.33, for a total value of $1,892,384.34. Following the completion of the transaction, the chief executive officer directly owned 164,957 shares of the company's stock, valued at approximately $18,694,576.81. This trade represents a 9.19% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.50% of the company's stock.

Emerson Electric Trading Down 0.4%

NYSE EMR opened at $137.30 on Friday. The stock has a market capitalization of $77.23 billion, a P/E ratio of 32.85, a P/E/G ratio of 2.71 and a beta of 1.29. Emerson Electric Co. has a 52-week low of $90.06 and a 52-week high of $139.90. The firm has a 50-day moving average price of $121.74 and a 200 day moving average price of $118.45. The company has a quick ratio of 0.59, a current ratio of 0.80 and a debt-to-equity ratio of 0.42.

Emerson Electric (NYSE:EMR - Get Free Report) last issued its earnings results on Wednesday, May 7th. The industrial products company reported $1.48 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.41 by $0.07. Emerson Electric had a net margin of 13.60% and a return on equity of 13.22%. The company had revenue of $4.43 billion during the quarter, compared to analysts' expectations of $4.42 billion. During the same period last year, the company posted $1.36 earnings per share. The firm's quarterly revenue was up 1.3% compared to the same quarter last year. Equities research analysts expect that Emerson Electric Co. will post 5.96 EPS for the current year.

Emerson Electric Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Friday, May 16th were issued a $0.5275 dividend. The ex-dividend date of this dividend was Friday, May 16th. This represents a $2.11 dividend on an annualized basis and a yield of 1.54%. Emerson Electric's dividend payout ratio (DPR) is presently 50.48%.

About Emerson Electric

(Free Report)

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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Institutional Ownership by Quarter for Emerson Electric (NYSE:EMR)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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