Wright Investors Service Inc. Sells 3,591 Shares of Emerson Electric Co. $EMR

Key Points

• Wright Investors Service Inc. decreased its stake in Emerson Electric Co. by 50.4% in the second quarter, holding 3,532 shares worth approximately $471,000.
• A number of research analysts have raised their ratings and price targets for Emerson Electric, with a consensus rating of "Moderate Buy" and an average price target of $142.39.
• Emerson Electric recently reported $1.52 earnings per share, slightly exceeding analyst estimates, and declared a quarterly dividend of $0.5275 per share.

Wright Investors Service Inc. lessened its position in shares of Emerson Electric Co. (NYSE:EMR - Free Report) by 50.4% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 3,532 shares of the industrial products company's stock after selling 3,591 shares during the quarter. Wright Investors Service Inc.'s holdings in Emerson Electric were worth $471,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Nuveen LLC acquired a new position in shares of Emerson Electric during the first quarter worth $737,318,000. Pacer Advisors Inc. lifted its position in Emerson Electric by 4,583.7% in the first quarter. Pacer Advisors Inc. now owns 2,185,049 shares of the industrial products company's stock valued at $239,569,000 after purchasing an additional 2,138,397 shares during the period. Alliancebernstein L.P. increased its holdings in Emerson Electric by 218.7% in the first quarter. Alliancebernstein L.P. now owns 2,468,732 shares of the industrial products company's stock valued at $270,672,000 after buying an additional 1,693,999 shares in the last quarter. Massachusetts Financial Services Co. MA increased its stake in shares of Emerson Electric by 210.8% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 1,966,453 shares of the industrial products company's stock worth $215,602,000 after purchasing an additional 1,333,839 shares in the last quarter. Finally, GAMMA Investing LLC increased its stake in shares of Emerson Electric by 12,707.7% during 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. Institutional investors and hedge funds own 74.30% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. KeyCorp raised their target price on shares of Emerson Electric from $150.00 to $155.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 1st. TD Cowen upgraded shares of Emerson Electric to a "strong-buy" rating in a report on Tuesday, July 8th. Citigroup increased 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. Wells Fargo & Company upped their target price on shares of Emerson Electric from $135.00 to $150.00 and gave the company an "overweight" rating in a research note on Tuesday, July 1st. Finally, Stephens upped their target price on shares of 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, eleven have assigned a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $142.39.

Emerson Electric Stock Performance

NYSE:EMR traded down $1.43 during midday trading on Tuesday, reaching $131.41. The stock had a trading volume of 1,548,918 shares, compared to its average volume of 3,131,654. Emerson Electric Co. has a 1-year low of $90.06 and a 1-year high of $150.27. The firm's fifty day simple moving average is $136.49 and its 200-day simple moving average is $123.49. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.85 and a quick ratio of 0.63. The stock has a market capitalization of $73.96 billion, a P/E ratio of 28.20, a PEG ratio of 2.51 and a beta of 1.30.

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

Emerson Electric Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Friday, August 15th were paid a $0.5275 dividend. The ex-dividend date of this dividend was Friday, August 15th. This represents a $2.11 dividend on an annualized basis and a dividend yield of 1.6%. Emerson Electric's payout ratio is currently 45.38%.

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.