Modera Wealth Management LLC Trims Holdings in Emerson Electric Co. $EMR

Modera Wealth Management LLC lessened its stake in Emerson Electric Co. (NYSE:EMR) by 0.9% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 206,878 shares of the industrial products company’s stock after selling 1,814 shares during the period. Modera Wealth Management LLC’s holdings in Emerson Electric were worth $27,583,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Nuveen LLC acquired a new stake in Emerson Electric during the first quarter valued at approximately $737,318,000. Pacer Advisors Inc. boosted its holdings in Emerson Electric by 4,583.7% in the first quarter. Pacer Advisors Inc. now owns 2,185,049 shares of the industrial products company’s stock worth $239,569,000 after purchasing an additional 2,138,397 shares during the period. Alliancebernstein L.P. raised its holdings in shares of Emerson Electric by 218.7% during the first quarter. Alliancebernstein L.P. now owns 2,468,732 shares of the industrial products company’s stock worth $270,672,000 after purchasing an additional 1,693,999 shares during the period. Nordea Investment Management AB boosted its holdings in shares of Emerson Electric by 19.5% in the 2nd quarter. Nordea Investment Management AB now owns 9,195,005 shares of the industrial products company’s stock valued at $1,223,947,000 after buying an additional 1,499,000 shares during the period. Finally, Massachusetts Financial Services Co. MA grew its position in shares of Emerson Electric by 210.8% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 1,966,453 shares of the industrial products company’s stock valued at $215,602,000 after buying an additional 1,333,839 shares during the last quarter. Institutional investors own 74.30% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on EMR. Stephens upped their target price on Emerson Electric from $130.00 to $145.00 and gave the company an “equal weight” rating in a report on Wednesday, July 16th. Jefferies Financial Group decreased their price objective on Emerson Electric from $160.00 to $155.00 and set a “buy” rating for the company in a report on Tuesday, October 7th. Wells Fargo & Company reiterated an “equal weight” rating and set a $140.00 price target (down previously from $150.00) on shares of Emerson Electric in a research 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 research note on Monday, July 14th. Finally, Royal Bank Of Canada decreased their target price on shares of Emerson Electric from $155.00 to $153.00 and set an “outperform” rating for the company in a research report on Thursday. Two research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Emerson Electric currently has a consensus rating of “Moderate Buy” and an average target price of $148.61.

Emerson Electric Price Performance

NYSE:EMR opened at $131.58 on Friday. Emerson Electric Co. has a 52-week low of $90.06 and a 52-week high of $150.27. The company has a quick ratio of 0.63, a current ratio of 0.85 and a debt-to-equity ratio of 0.42. The firm has a market cap of $74.05 billion, a P/E ratio of 28.30, a PEG ratio of 2.36 and a beta of 1.30. The business’s 50-day moving average price is $132.42 and its 200 day moving average price is $129.33.

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

Emerson Electric declared that its board has authorized a share buyback plan on Wednesday, November 5th that authorizes the company to repurchase $0.00 in shares. This repurchase authorization authorizes the industrial products company to buy shares of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.

Emerson Electric Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 10th. Stockholders of record on Friday, November 14th will be given a dividend of $0.555 per share. This represents a $2.22 dividend on an annualized basis and a dividend yield of 1.7%. This is a boost from Emerson Electric’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend is Friday, November 14th. Emerson Electric’s payout ratio is presently 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.