Victory Capital Management Inc. Has $23.72 Million Position in Emerson Electric Co. (NYSE:EMR)

Victory Capital Management Inc. trimmed its position in Emerson Electric Co. (NYSE:EMR - Free Report) by 7.6% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 216,351 shares of the industrial products company's stock after selling 17,724 shares during the quarter. Victory Capital Management Inc.'s holdings in Emerson Electric were worth $23,721,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. BIP Wealth LLC grew its stake in Emerson Electric by 6.6% during the first quarter. BIP Wealth LLC now owns 1,861 shares of the industrial products company's stock worth $204,000 after purchasing an additional 116 shares during the period. Bridgewater Advisors Inc. acquired a new stake in Emerson Electric in the first quarter valued at approximately $441,000. Wealthfront Advisers LLC grew its stake in Emerson Electric by 3.2% in the first quarter. Wealthfront Advisers LLC now owns 55,035 shares of the industrial products company's stock valued at $6,034,000 after acquiring an additional 1,716 shares during the period. Massachusetts Financial Services Co. MA grew its stake in Emerson Electric by 210.8% in the first quarter. Massachusetts Financial Services Co. MA now owns 1,966,453 shares of the industrial products company's stock valued at $215,602,000 after acquiring an additional 1,333,839 shares during the period. Finally, Asahi Life Asset Management CO. LTD. acquired a new stake in Emerson Electric in the first quarter valued at approximately $403,000. 74.30% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

EMR has been the topic of several research reports. Barclays boosted their target price on Emerson Electric from $118.00 to $125.00 and gave the company an "underweight" rating in a research note on Wednesday, July 9th. Robert W. Baird lowered their target price on Emerson Electric from $140.00 to $130.00 and set a "neutral" rating on the stock in a research note on Thursday, May 8th. Royal Bank Of Canada boosted their target price on Emerson Electric from $123.00 to $124.00 and gave the company an "outperform" rating in a research note on Thursday, May 8th. 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. Finally, Wall Street Zen upgraded Emerson Electric from a "hold" rating to a "buy" rating in a research note on Friday, May 9th. Two analysts have rated the stock with a sell rating, four have issued a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $142.28.

Insider Transactions at Emerson Electric

In other 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 transaction, the chief executive officer directly owned 164,957 shares of the company's stock, valued at $18,694,576.81. This represents a 9.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.50% of the company's stock.

Emerson Electric Price Performance

NYSE:EMR opened at $142.92 on Tuesday. The stock has a market cap of $80.39 billion, a P/E ratio of 34.19, a PEG ratio of 2.80 and a beta of 1.29. Emerson Electric Co. has a one year low of $90.06 and a one year high of $145.28. The company has a fifty day moving average price of $128.27 and a 200 day moving average price of $119.51. 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 earnings results on Wednesday, May 7th. The industrial products company reported $1.48 earnings per share for the quarter, topping the consensus estimate of $1.41 by $0.07. Emerson Electric had a net margin of 13.60% and a return on equity of 13.22%. The business had revenue of $4.43 billion for the quarter, compared to analyst estimates of $4.42 billion. During the same quarter in the prior year, the firm earned $1.36 EPS. The firm's quarterly revenue was up 1.3% compared to the same quarter last year. Analysts anticipate that Emerson Electric Co. will post 5.96 earnings per share for the current year.

Emerson Electric Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Friday, May 16th were given a dividend of $0.5275 per share. This represents a $2.11 annualized dividend and a yield of 1.48%. The ex-dividend date was Friday, May 16th. Emerson Electric's dividend payout ratio (DPR) is currently 50.48%.

About Emerson Electric

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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