Emerson Electric Co. $EMR Stake Boosted by Mechanics Financial Corp

Mechanics Financial Corp grew its stake in shares of Emerson Electric Co. (NYSE:EMR) by 1.1% during the 2nd quarter, HoldingsChannel reports. The fund owned 8,362 shares of the industrial products company’s stock after acquiring an additional 95 shares during the period. Mechanics Financial Corp’s holdings in Emerson Electric were worth $1,115,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. First Horizon Advisors Inc. boosted its holdings in Emerson Electric by 2.7% in the first quarter. First Horizon Advisors Inc. now owns 212,252 shares of the industrial products company’s stock worth $23,271,000 after purchasing an additional 5,504 shares in the last quarter. North Capital Inc. bought a new stake in Emerson Electric in the first quarter worth $211,000. Davis Investment Partners LLC bought a new stake in Emerson Electric in the second quarter worth $692,000. Golden State Equity Partners bought a new stake in Emerson Electric in the first quarter worth $459,000. Finally, Truist Financial Corp boosted its holdings in Emerson Electric by 1.7% in the first quarter. Truist Financial Corp now owns 1,078,616 shares of the industrial products company’s stock worth $118,259,000 after purchasing an additional 18,069 shares in the last quarter. 74.30% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. KeyCorp upped their price objective on shares of Emerson Electric from $150.00 to $155.00 and gave the stock an “overweight” rating in a report on Tuesday, July 1st. Bank of America upped their price objective on shares of Emerson Electric from $130.00 to $155.00 and gave the stock a “buy” rating in a report on Wednesday, July 2nd. Barclays upgraded shares of Emerson Electric from an “underweight” rating to an “equal weight” rating and upped their price objective for the stock from $125.00 to $127.00 in a report on Thursday, August 7th. Wells Fargo & Company upped their price target on shares of Emerson Electric from $135.00 to $150.00 and gave the company an “overweight” rating in a report on Tuesday, July 1st. Finally, Daiwa Capital Markets upped their price target on shares of Emerson Electric from $150.00 to $153.00 and gave the company an “outperform” rating in a report on Wednesday, September 24th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Emerson Electric presently has a consensus rating of “Moderate Buy” and a consensus target price of $144.88.

Emerson Electric Stock Up 1.3%

Shares of EMR opened at $132.90 on Friday. The company has a 50-day simple moving average of $134.43 and a 200-day simple moving average of $124.39. The firm has a market capitalization of $74.79 billion, a P/E ratio of 28.58, a P/E/G ratio of 2.31 and a beta of 1.29. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.63 and a current ratio of 0.85. Emerson Electric Co. has a 52 week low of $90.06 and a 52 week high of $150.27.

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

Emerson Electric Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Friday, August 15th were given a dividend of $0.5275 per share. 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 dividend payout ratio is currently 45.38%.

Emerson Electric Profile

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.