Emerson Electric Co. $EMR Shares Acquired by Welch Group LLC

Welch Group LLC lifted its stake in shares of Emerson Electric Co. (NYSE:EMR) by 1.9% in the second quarter, Holdings Channel reports. The institutional investor owned 483,059 shares of the industrial products company’s stock after buying an additional 8,984 shares during the quarter. Emerson Electric accounts for approximately 2.7% of Welch Group LLC’s portfolio, making the stock its 12th biggest position. Welch Group LLC’s holdings in Emerson Electric were worth $64,406,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. First Horizon Advisors Inc. grew its position in shares of Emerson Electric by 2.7% during the first quarter. First Horizon Advisors Inc. now owns 212,252 shares of the industrial products company’s stock worth $23,271,000 after buying an additional 5,504 shares in the last quarter. Davis Investment Partners LLC acquired a new stake in shares of Emerson Electric during the second quarter worth approximately $692,000. North Capital Inc. acquired a new stake in shares of Emerson Electric during the first quarter worth approximately $211,000. Golden State Equity Partners acquired a new stake in shares of Emerson Electric during the first quarter worth approximately $459,000. Finally, Truist Financial Corp grew its position in shares of Emerson Electric by 1.7% during the first quarter. Truist Financial Corp now owns 1,078,616 shares of the industrial products company’s stock worth $118,259,000 after buying an additional 18,069 shares in the last quarter. Institutional investors and hedge funds own 74.30% of the company’s stock.

Emerson Electric Stock Performance

EMR stock opened at $125.99 on Monday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.63 and a current ratio of 0.85. The stock has a market capitalization of $70.91 billion, a price-to-earnings ratio of 27.09, a PEG ratio of 2.19 and a beta of 1.29. Emerson Electric Co. has a 1 year low of $90.06 and a 1 year high of $150.27. The stock’s fifty day moving average is $132.66 and its two-hundred day moving average is $125.34.

Emerson Electric (NYSE:EMR) last posted its earnings results on Thursday, April 6th. The industrial products company reported $0.79 earnings per share (EPS) for the quarter. Emerson Electric had a return on equity of 14.34% and a net margin of 14.92%.The company had revenue of $3.16 billion for the quarter. On average, research analysts predict that Emerson Electric Co. will post 5.96 EPS for the current year.

Emerson Electric Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Friday, August 15th were paid a dividend of $0.5275 per share. This represents a $2.11 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date was Friday, August 15th. Emerson Electric’s payout ratio is currently 45.38%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Wells Fargo & Company reaffirmed an “equal weight” rating and issued a $140.00 price objective (down previously from $150.00) on shares of Emerson Electric in a report on Monday, October 6th. TD Cowen raised shares of Emerson Electric to a “strong-buy” rating in a report on Tuesday, July 8th. Jefferies Financial Group decreased their price objective on shares of Emerson Electric from $160.00 to $155.00 and set a “buy” rating for the company in a report on Tuesday, October 7th. Barclays raised shares of Emerson Electric from an “underweight” rating to an “equal weight” rating and lifted their price objective for the stock from $125.00 to $127.00 in a report on Thursday, August 7th. Finally, 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 report on Tuesday, July 1st. Two investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $145.56.

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.