Verity Asset Management Inc. Increases Stock Holdings in Emerson Electric Co. (NYSE:EMR)

Verity Asset Management Inc. grew its holdings in shares of Emerson Electric Co. (NYSE:EMR - Free Report) by 100.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,708 shares of the industrial products company's stock after purchasing an additional 5,354 shares during the period. Verity Asset Management Inc.'s holdings in Emerson Electric were worth $1,174,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the business. Orion Capital Management LLC purchased a new stake in Emerson Electric during the 4th quarter worth approximately $25,000. Vega Investment Solutions purchased a new stake in shares of Emerson Electric during the fourth quarter worth $27,000. Murphy & Mullick Capital Management Corp acquired a new stake in shares of Emerson Electric in the fourth quarter valued at $28,000. Inlight Wealth Management LLC purchased a new position in Emerson Electric in the first quarter valued at $28,000. Finally, Fourth Dimension Wealth LLC grew its stake in Emerson Electric by 145.3% during the 1st quarter. Fourth Dimension Wealth LLC now owns 260 shares of the industrial products company's stock worth $29,000 after purchasing an additional 154 shares in the last quarter. Institutional investors and hedge funds own 74.30% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on EMR. Royal Bank Of Canada lifted their price objective on Emerson Electric from $123.00 to $124.00 and gave the company an "outperform" rating in a research note on Thursday, May 8th. KeyCorp boosted their price target on shares of Emerson Electric from $125.00 to $150.00 and gave the stock an "overweight" rating in a report on Friday, June 13th. Wall Street Zen upgraded shares of Emerson Electric from a "hold" rating to a "buy" rating in a report on Friday, May 9th. Citigroup boosted their target price on shares of Emerson Electric from $133.00 to $146.00 and gave the stock a "buy" rating in a research note on Wednesday, June 4th. Finally, Wells Fargo & Company raised their price target on Emerson Electric from $121.00 to $135.00 and gave the company an "overweight" rating in a research note on Wednesday, May 21st. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $136.47.

Insider Buying and Selling

In other news, CEO Surendralal Lanca Karsanbhai sold 16,698 shares of the business's stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $113.33, for a total transaction of $1,892,384.34. Following the transaction, the chief executive officer now directly owns 164,957 shares in the company, valued at $18,694,576.81. The trade was a 9.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.50% of the company's stock.

Emerson Electric Stock Performance

Shares of Emerson Electric stock opened at $133.16 on Monday. The firm's fifty day simple moving average is $118.27 and its 200-day simple moving average is $118.06. Emerson Electric Co. has a 12 month low of $90.06 and a 12 month high of $134.85. The stock has a market capitalization of $74.90 billion, a price-to-earnings ratio of 31.86, a PEG ratio of 2.63 and a beta of 1.28. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.80 and a quick ratio of 0.59.

Emerson Electric (NYSE:EMR - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The industrial products company reported $1.48 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 for the quarter, compared to analyst estimates of $4.42 billion. During the same period in the previous year, the business posted $1.36 earnings per share. Emerson Electric's quarterly revenue was up 1.3% on a year-over-year basis. As a group, equities analysts forecast 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 Tuesday, June 10th. Stockholders of record on Friday, May 16th were paid a dividend of $0.5275 per share. This represents a $2.11 annualized dividend and a dividend yield of 1.58%. The ex-dividend date of this dividend was Friday, May 16th. Emerson Electric's dividend payout ratio (DPR) is presently 50.48%.

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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