Emerson Electric Co. $EMR Shares Sold by Providence Wealth Advisors LLC

Providence Wealth Advisors LLC lowered its stake in shares of Emerson Electric Co. (NYSE:EMR) by 13.7% in the second quarter, HoldingsChannel reports. The firm owned 9,793 shares of the industrial products company’s stock after selling 1,550 shares during the quarter. Providence Wealth Advisors LLC’s holdings in Emerson Electric were worth $1,296,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently added to or reduced their stakes in the company. Impact Capital Partners LLC lifted its position in Emerson Electric by 3.9% in the 2nd quarter. Impact Capital Partners LLC now owns 1,909 shares of the industrial products company’s stock valued at $255,000 after purchasing an additional 71 shares during the last quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors raised its position in Emerson Electric by 1.7% in the second quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors now owns 4,338 shares of the industrial products company’s stock worth $578,000 after acquiring an additional 71 shares in the last quarter. Jag Capital Management LLC lifted its stake in Emerson Electric by 1.9% during the second quarter. Jag Capital Management LLC now owns 3,954 shares of the industrial products company’s stock valued at $527,000 after purchasing an additional 72 shares during the last quarter. Beacon Financial Advisory LLC boosted its stake in shares of Emerson Electric by 2.9% during the 2nd quarter. Beacon Financial Advisory LLC now owns 2,769 shares of the industrial products company’s stock worth $369,000 after acquiring an additional 77 shares in the last quarter. Finally, Petros Family Wealth LLC boosted its position in shares of Emerson Electric by 0.9% in the 2nd quarter. Petros Family Wealth LLC now owns 9,319 shares of the industrial products company’s stock valued at $1,243,000 after purchasing an additional 80 shares during the period. 74.30% of the stock is owned by institutional investors and hedge funds.

Emerson Electric Stock Up 3.6%

EMR opened at $128.19 on Friday. The company has a market capitalization of $72.02 billion, a P/E ratio of 27.57, a P/E/G ratio of 2.36 and a beta of 1.30. The firm’s fifty day moving average price is $131.42 and its two-hundred day moving average price is $131.34. Emerson Electric Co. has a fifty-two week low of $90.06 and a fifty-two week high of $150.27. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.85 and a quick ratio of 0.63.

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

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

Emerson Electric Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 10th. Stockholders of record on Friday, November 14th will be issued a $0.555 dividend. This represents a $2.22 annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend is Friday, November 14th. This is a positive change from Emerson Electric’s previous quarterly dividend of $0.53. Emerson Electric’s payout ratio is currently 54.95%.

Analyst Upgrades and Downgrades

EMR has been the subject of a number of recent analyst reports. 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 research note on Monday, October 6th. Royal Bank Of Canada cut their price objective on Emerson Electric from $155.00 to $153.00 and set an “outperform” rating for the company in a report on Thursday, November 6th. Daiwa Capital Markets lifted their target price on shares of Emerson Electric from $150.00 to $153.00 and gave the company an “outperform” rating in a research note on Wednesday, September 24th. Deutsche Bank Aktiengesellschaft upped their price target on Emerson Electric from $157.00 to $159.00 and gave the stock a “buy” rating in a research note on Thursday, October 2nd. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Emerson Electric from $151.00 to $150.00 and set a “neutral” rating for the company in a report on Monday, November 10th. Two research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $148.13.

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.