Exchange Traded Concepts LLC Acquires 4,036 Shares of Emerson Electric Co. $EMR

Exchange Traded Concepts LLC boosted its position in shares of Emerson Electric Co. (NYSE:EMR) by 2.3% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 180,707 shares of the industrial products company’s stock after acquiring an additional 4,036 shares during the period. Exchange Traded Concepts LLC’s holdings in Emerson Electric were worth $24,094,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Orion Capital Management LLC purchased a new stake in Emerson Electric during the 4th quarter valued at approximately $25,000. Saudi Central Bank purchased a new position in Emerson Electric during the first quarter worth $25,000. Vega Investment Solutions purchased a new position in Emerson Electric during the fourth quarter worth $27,000. MJT & Associates Financial Advisory Group Inc. purchased a new position in Emerson Electric during the first quarter worth $27,000. Finally, Inlight Wealth Management LLC purchased a new position in Emerson Electric during the first quarter worth $28,000. 74.30% of the stock is owned by hedge funds and other institutional investors.

Emerson Electric Trading Up 1.5%

Emerson Electric stock opened at $131.01 on Thursday. The company has a current ratio of 0.85, a quick ratio of 0.63 and a debt-to-equity ratio of 0.42. Emerson Electric Co. has a 12 month low of $90.06 and a 12 month high of $150.27. The stock’s 50 day simple moving average is $136.96 and its two-hundred day simple moving average is $123.06. The firm has a market cap of $73.73 billion, a PE ratio of 28.17, a P/E/G ratio of 2.51 and a beta of 1.30.

Emerson Electric (NYSE:EMR) last released its quarterly earnings data on Wednesday, August 6th. The industrial products company reported $1.52 EPS for the quarter, topping the consensus estimate of $1.51 by $0.01. Emerson Electric had a return on equity of 14.34% and a net margin of 14.92%.The business had revenue of $4.55 billion for the quarter, compared to analyst estimates of $4.60 billion. During the same quarter in the prior year, the firm posted $1.43 EPS. The business’s quarterly revenue was up 3.9% 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 Announces Dividend

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

Wall Street Analysts Forecast Growth

Several research firms have commented on EMR. KeyCorp lifted their price objective on shares of Emerson Electric from $150.00 to $155.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 1st. Citigroup boosted their target price on shares of Emerson Electric from $146.00 to $165.00 and gave the company a “buy” rating in a research note on Monday, July 14th. Barclays raised shares of Emerson Electric from an “underweight” rating to an “equal weight” rating and boosted their target price for the company from $125.00 to $127.00 in a research note on Thursday, August 7th. Stephens boosted 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. Finally, Wells Fargo & Company lifted their price objective on Emerson Electric from $135.00 to $150.00 and gave the company an “overweight” rating in a report on Tuesday, July 1st. Two investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $142.39.

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.