Cookson Peirce & Co. Inc. Trims Holdings in Emerson Electric Co. $EMR

Cookson Peirce & Co. Inc. reduced its stake in shares of Emerson Electric Co. (NYSE:EMR) by 24.3% in the second quarter, HoldingsChannel reports. The institutional investor owned 14,472 shares of the industrial products company’s stock after selling 4,638 shares during the period. Cookson Peirce & Co. Inc.’s holdings in Emerson Electric were worth $1,930,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in EMR. First Horizon Advisors Inc. boosted its position in shares of Emerson Electric by 2.7% during the 1st quarter. First Horizon Advisors Inc. now owns 212,252 shares of the industrial products company’s stock valued at $23,271,000 after acquiring an additional 5,504 shares during the last quarter. Davis Investment Partners LLC bought a new stake in Emerson Electric in the second quarter worth $692,000. North Capital Inc. bought a new stake in Emerson Electric in the first quarter worth $211,000. Golden State Equity Partners bought a new stake in Emerson Electric in the first quarter worth $459,000. Finally, Truist Financial Corp lifted its position 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 buying an additional 18,069 shares during the last quarter. 74.30% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts recently issued reports on EMR shares. KeyCorp raised their price target on Emerson Electric from $150.00 to $155.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 1st. Stephens increased 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. Royal Bank Of Canada raised their price target on Emerson Electric from $154.00 to $155.00 and gave the company an “outperform” rating in a research note on Thursday, October 16th. Wells Fargo & Company restated an “equal weight” rating and set a $140.00 price target (down previously from $150.00) on shares of Emerson Electric in a research note on Monday, October 6th. Finally, Jefferies Financial Group cut their price target on Emerson Electric from $160.00 to $155.00 and set a “buy” rating on the stock in a research note on Tuesday, October 7th. Two research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Emerson Electric presently has a consensus rating of “Moderate Buy” and a consensus price target of $148.28.

Emerson Electric Trading Up 1.5%

Emerson Electric stock opened at $132.29 on Wednesday. The company has a quick ratio of 0.63, a current ratio of 0.85 and a debt-to-equity ratio of 0.42. Emerson Electric Co. has a 52 week low of $90.06 and a 52 week high of $150.27. The company has a market capitalization of $74.45 billion, a price-to-earnings ratio of 28.45, a price-to-earnings-growth ratio of 2.25 and a beta of 1.29. The stock has a 50-day moving average price of $131.88 and a 200 day moving average price of $126.36.

Emerson Electric (NYSE:EMR) last released its earnings results on Thursday, April 6th. The industrial products company reported $0.79 EPS for the quarter. Emerson Electric had a return on equity of 14.34% and a net margin of 14.92%.The firm had revenue of $3.16 billion during the quarter. Sell-side analysts anticipate that Emerson Electric Co. will post 5.96 EPS for the current year.

Emerson Electric Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Friday, August 15th were issued a $0.5275 dividend. The ex-dividend date of this dividend was Friday, August 15th. This represents a $2.11 dividend on an annualized basis and a yield of 1.6%. Emerson Electric’s 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.