Spire Wealth Management Trims Stock Position in Emerson Electric Co. $EMR

Spire Wealth Management lessened its holdings in shares of Emerson Electric Co. (NYSE:EMR) by 43.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,942 shares of the industrial products company’s stock after selling 3,005 shares during the period. Spire Wealth Management’s holdings in Emerson Electric were worth $526,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several 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 first quarter worth $25,000. MJT & Associates Financial Advisory Group Inc. purchased a new position in Emerson Electric in the first quarter valued at $27,000. PFS Partners LLC increased its holdings in Emerson Electric by 65.9% in the second quarter. PFS Partners LLC now owns 272 shares of the industrial products company’s stock valued at $36,000 after buying an additional 108 shares in the last quarter. Princeton Global Asset Management LLC purchased a new position in Emerson Electric in the second quarter valued at $38,000. Finally, Clal Insurance Enterprises Holdings Ltd increased its holdings in Emerson Electric by 436.4% in the first quarter. Clal Insurance Enterprises Holdings Ltd now owns 354 shares of the industrial products company’s stock valued at $39,000 after buying an additional 288 shares in the last quarter. Hedge funds and other institutional investors own 74.30% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on EMR shares. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Emerson Electric from $157.00 to $159.00 and gave the company a “buy” rating in a report on Thursday, October 2nd. 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. Citigroup lifted their price objective on shares of Emerson Electric from $146.00 to $165.00 and gave the company a “buy” rating in a report on Monday, July 14th. Jefferies Financial Group dropped their target price on shares of Emerson Electric from $160.00 to $155.00 and set a “buy” rating on the stock in a research report on Tuesday, October 7th. Finally, TD Cowen upgraded shares of Emerson Electric to a “strong-buy” rating in a research report on Tuesday, July 8th. Two research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $148.28.

Emerson Electric Stock Up 2.2%

EMR stock opened at $139.83 on Monday. The company has a market cap of $78.70 billion, a price-to-earnings ratio of 30.07, a PEG ratio of 2.36 and a beta of 1.29. The company has a current ratio of 0.85, a quick ratio of 0.63 and a debt-to-equity ratio of 0.42. Emerson Electric Co. has a 12 month low of $90.06 and a 12 month high of $150.27. The firm has a 50-day moving average of $132.26 and a two-hundred day moving average of $128.74.

Emerson Electric (NYSE:EMR) last released its quarterly earnings data on Thursday, April 6th. The industrial products company reported $0.79 EPS for the quarter. The company had revenue of $3.16 billion during the quarter. Emerson Electric had a net margin of 14.92% and a return on equity of 14.34%. As a group, analysts forecast that Emerson Electric Co. will post 5.96 earnings per share for the current fiscal year.

Emerson Electric Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Friday, August 15th were issued a dividend of $0.5275 per share. The ex-dividend date was Friday, August 15th. This represents a $2.11 dividend on an annualized basis and a dividend yield of 1.5%. Emerson Electric’s dividend payout ratio (DPR) is currently 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.