Mattern Capital Management LLC Raises Holdings in Emerson Electric Co. $EMR

Mattern Capital Management LLC grew its position in shares of Emerson Electric Co. (NYSE:EMR) by 0.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 79,821 shares of the industrial products company’s stock after buying an additional 533 shares during the period. Emerson Electric accounts for 1.3% of Mattern Capital Management LLC’s investment portfolio, making the stock its 16th largest position. Mattern Capital Management LLC’s holdings in Emerson Electric were worth $10,643,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in EMR. Saudi Central Bank purchased a new position in shares of Emerson Electric during the 1st quarter valued at $25,000. MJT & Associates Financial Advisory Group Inc. bought a new stake in shares of Emerson Electric during the 1st quarter valued at $27,000. Inlight Wealth Management LLC bought a new stake in shares of Emerson Electric during the 1st quarter valued at $28,000. Fourth Dimension Wealth LLC raised its stake in shares of Emerson Electric by 145.3% during the 1st quarter. Fourth Dimension Wealth LLC now owns 260 shares of the industrial products company’s stock valued at $29,000 after purchasing an additional 154 shares during the period. Finally, Garde Capital Inc. bought a new stake in shares of Emerson Electric during the 1st quarter valued at $36,000. Hedge funds and other institutional investors own 74.30% of the company’s stock.

Emerson Electric Price Performance

Shares of Emerson Electric stock opened at $132.90 on Friday. The company has a current ratio of 0.85, a quick ratio of 0.63 and a debt-to-equity ratio of 0.42. The firm has a market capitalization of $74.79 billion, a PE ratio of 28.58, a price-to-earnings-growth ratio of 2.31 and a beta of 1.29. The business’s 50-day moving average price is $134.43 and its 200-day moving average price is $124.39. Emerson Electric Co. has a 12 month low of $90.06 and a 12 month 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 the consensus estimate of $1.51 by $0.01. The firm had revenue of $4.55 billion for the quarter, compared to analyst estimates of $4.60 billion. Emerson Electric had a return on equity of 14.34% and a net margin of 14.92%.The company’s revenue was up 3.9% on a year-over-year basis. During the same period in the prior year, the company earned $1.43 EPS. Sell-side analysts forecast that Emerson Electric Co. will post 5.96 EPS for the current fiscal year.

Emerson Electric Announces Dividend

The company 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 was Friday, August 15th. This represents a $2.11 annualized dividend and a dividend yield of 1.6%. Emerson Electric’s dividend payout ratio is 45.38%.

Analyst Upgrades and Downgrades

EMR has been the topic of a number of analyst reports. 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. 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. 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. TD Cowen upgraded Emerson Electric to a “strong-buy” rating in a research note on Tuesday, July 8th. Finally, Stephens upped their target price on Emerson Electric from $130.00 to $145.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 16th. Two research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $144.88.

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.