Emerson Electric Co. $EMR Shares Sold by Sky Investment Group LLC

Sky Investment Group LLC trimmed its holdings in Emerson Electric Co. (NYSE:EMR) by 0.1% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 63,113 shares of the industrial products company’s stock after selling 91 shares during the quarter. Emerson Electric comprises approximately 1.5% of Sky Investment Group LLC’s portfolio, making the stock its 19th biggest position. Sky Investment Group LLC’s holdings in Emerson Electric were worth $8,415,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in EMR. Nuveen LLC acquired a new position in Emerson Electric in the first quarter valued at approximately $737,318,000. Pacer Advisors Inc. boosted its holdings 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 in the last quarter. Alliancebernstein L.P. boosted 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 purchasing an additional 1,693,999 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its holdings 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 purchasing an additional 1,333,839 shares in the last quarter. Finally, GAMMA Investing LLC lifted its stake in Emerson Electric by 12,707.7% in the first quarter. GAMMA Investing LLC now owns 1,126,441 shares of the industrial products company’s stock valued at $123,503,000 after buying an additional 1,117,646 shares during the last quarter. 74.30% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Wells Fargo & Company boosted their price objective on Emerson Electric from $135.00 to $150.00 and gave the company an “overweight” rating in a research note on Tuesday, July 1st. Citigroup boosted their price objective on Emerson Electric from $146.00 to $165.00 and gave the company a “buy” rating in a research note on Monday, July 14th. Barclays upgraded Emerson Electric from an “underweight” rating to an “equal weight” rating and boosted their price objective for the company from $125.00 to $127.00 in a research note on Thursday, August 7th. Bank of America boosted their price objective 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, KeyCorp boosted their price objective on Emerson Electric from $150.00 to $155.00 and gave the company an “overweight” rating in a research note on Tuesday, July 1st. Two analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $142.39.

Emerson Electric Price Performance

Emerson Electric stock opened at $131.95 on Friday. Emerson Electric Co. has a 12 month low of $90.06 and a 12 month high of $150.27. 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 business has a 50 day simple moving average of $136.79 and a 200-day simple moving average of $123.16. The stock has a market capitalization of $74.26 billion, a PE ratio of 28.38, a price-to-earnings-growth ratio of 2.48 and a beta of 1.30.

Emerson Electric (NYSE:EMR) last released its quarterly earnings results 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 during the quarter, compared to analysts’ expectations of $4.60 billion. During the same quarter in the prior year, the business earned $1.43 earnings per share. The company’s quarterly revenue was up 3.9% compared to the same quarter last year. Equities analysts predict that Emerson Electric Co. will post 5.96 earnings per share for the current year.

Emerson Electric Dividend Announcement

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