Truist Financial Corp Sells 5,717 Shares of Emerson Electric Co. $EMR

Key Points

• Truist Financial Corp reduced its stake in Emerson Electric Co. by 0.5%, selling 5,717 shares, and now holds 1,072,899 shares valued at approximately $143 million.
• Emerson Electric recently reported $1.52 earnings per share, slightly exceeding expectations, along with revenue of $4.55 billion, which was below analysts' forecasts.
• The company announced a quarterly dividend of $0.5275, translating to an annual yield of 1.6% and a payout ratio of 45.38%.

Truist Financial Corp lowered its position in Emerson Electric Co. (NYSE:EMR - Free Report) by 0.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,072,899 shares of the industrial products company's stock after selling 5,717 shares during the period. Truist Financial Corp owned 0.19% of Emerson Electric worth $143,050,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. First Horizon Advisors Inc. raised its stake in shares of Emerson Electric by 2.7% in the first quarter. First Horizon Advisors Inc. now owns 212,252 shares of the industrial products company's stock worth $23,271,000 after purchasing an additional 5,504 shares during the last quarter. North Capital Inc. bought a new position in shares of Emerson Electric in the first quarter worth $211,000. Davis Investment Partners LLC bought a new position in shares of Emerson Electric in the second quarter worth $692,000. Golden State Equity Partners bought a new position in shares of Emerson Electric in the first quarter worth $459,000. Finally, Capital Management Associates Inc bought a new position in shares of Emerson Electric in the first quarter worth $337,000. 74.30% of the stock is owned by hedge funds and other institutional investors.

Emerson Electric Stock Performance

Emerson Electric stock opened at $131.18 on Wednesday. The stock's 50 day simple moving average is $135.02 and its two-hundred day simple moving average is $124.21. 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 stock has a market cap of $73.83 billion, a price-to-earnings ratio of 28.21, a PEG ratio of 2.45 and a beta of 1.30. Emerson Electric Co. has a fifty-two week low of $90.06 and a fifty-two week high of $150.27.

Emerson Electric (NYSE:EMR - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The industrial products company reported $1.52 earnings per share for the quarter, beating the consensus estimate of $1.51 by $0.01. The business had revenue of $4.55 billion for the quarter, compared to analysts' expectations of $4.60 billion. Emerson Electric had a return on equity of 14.34% and a net margin of 14.92%.The business's revenue was up 3.9% on a year-over-year basis. During the same period in the previous year, the firm posted $1.43 EPS. As a group, analysts expect that Emerson Electric Co. will post 5.96 earnings per share for the current fiscal year.

Emerson Electric Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Friday, August 15th were given a $0.5275 dividend. This represents a $2.11 dividend on an annualized basis and a dividend 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

Several research firms recently issued reports on EMR. KeyCorp lifted their price objective on Emerson Electric from $150.00 to $155.00 and gave the company an "overweight" rating in a research note on Tuesday, July 1st. Stephens boosted their target price 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. Bank of America boosted their target price 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 report on Monday, July 14th. Finally, Daiwa Capital Markets boosted their price target on Emerson Electric from $150.00 to $153.00 and gave the company an "outperform" rating in a report on Wednesday, September 24th. Two analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Emerson Electric presently has a consensus rating of "Moderate Buy" and an average 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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