Levin Capital Strategies L.P. cut its holdings in shares of Emerson Electric Co. (NYSE:EMR – Free Report) by 25.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,440 shares of the industrial products company’s stock after selling 1,178 shares during the period. Levin Capital Strategies L.P.’s holdings in Emerson Electric were worth $379,000 as of its most recent SEC filing.
Other hedge funds have also made changes to their positions in the company. Royal London Asset Management Ltd. boosted its position in Emerson Electric by 0.8% in the 2nd quarter. Royal London Asset Management Ltd. now owns 227,233 shares of the industrial products company’s stock valued at $25,032,000 after buying an additional 1,900 shares during the period. LGT Fund Management Co Ltd. acquired a new position in Emerson Electric during the 2nd quarter worth $2,203,000. LGT Group Foundation increased its holdings in Emerson Electric by 48.8% during the 2nd quarter. LGT Group Foundation now owns 161,870 shares of the industrial products company’s stock worth $17,832,000 after purchasing an additional 53,063 shares during the period. Choreo LLC grew its position in shares of Emerson Electric by 56.7% during the second quarter. Choreo LLC now owns 29,464 shares of the industrial products company’s stock worth $3,186,000 after buying an additional 10,665 shares in the last quarter. Finally, Prudential PLC raised its holdings in Emerson Electric by 37.0% in the second quarter. Prudential PLC now owns 8,025 shares of the industrial products company’s stock valued at $884,000 after acquiring an additional 2,168 shares in the last quarter. Institutional investors and hedge funds own 74.30% of the company’s stock.
Analyst Upgrades and Downgrades
Several equities research analysts have recently weighed in on EMR shares. Oppenheimer cut their target price on Emerson Electric from $125.00 to $120.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. Royal Bank of Canada cut their price target on Emerson Electric from $140.00 to $139.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. Robert W. Baird increased their price objective on Emerson Electric from $116.00 to $117.00 and gave the company a “neutral” rating in a report on Thursday, August 8th. Morgan Stanley assumed coverage on shares of Emerson Electric in a report on Friday. They issued an “underweight” rating and a $105.00 target price on the stock. Finally, Wells Fargo & Company lowered their price objective on shares of Emerson Electric from $137.00 to $128.00 and set an “overweight” rating on the stock in a research report on Thursday, August 8th. One research analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $124.06.
Emerson Electric Stock Performance
NYSE EMR opened at $99.58 on Tuesday. The business’s 50 day moving average is $108.52 and its two-hundred day moving average is $109.75. Emerson Electric Co. has a 12-month low of $83.10 and a 12-month high of $119.53. The stock has a market capitalization of $57.03 billion, a price-to-earnings ratio of 5.33, a PEG ratio of 1.63 and a beta of 1.30. The company has a current ratio of 1.16, a quick ratio of 0.86 and a debt-to-equity ratio of 0.27.
Emerson Electric (NYSE:EMR – Get Free Report) last issued its earnings results on Wednesday, August 7th. The industrial products company reported $1.43 EPS for the quarter, topping the consensus estimate of $1.42 by $0.01. The company had revenue of $4.38 billion for the quarter, compared to analyst estimates of $4.44 billion. Emerson Electric had a net margin of 10.12% and a return on equity of 11.41%. The business’s revenue was up 11.0% on a year-over-year basis. During the same period in the previous year, the firm earned $1.29 EPS. Research analysts expect that Emerson Electric Co. will post 5.48 EPS for the current year.
Emerson Electric Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Friday, August 16th will be given a dividend of $0.525 per share. The ex-dividend date of this dividend is Friday, August 16th. This represents a $2.10 dividend on an annualized basis and a dividend yield of 2.11%. Emerson Electric’s payout ratio is 11.24%.
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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