Soltis Investment Advisors LLC Grows Position in Emerson Electric Co. $EMR

Soltis Investment Advisors LLC boosted its stake in shares of Emerson Electric Co. (NYSE:EMR) by 17.5% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,128 shares of the industrial products company’s stock after purchasing an additional 466 shares during the period. Soltis Investment Advisors LLC’s holdings in Emerson Electric were worth $417,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in EMR. Washington Trust Bank acquired a new stake in shares of Emerson Electric during the second quarter valued at about $217,000. HORAN Wealth LLC purchased a new stake in Emerson Electric during the 2nd quarter worth approximately $212,000. SouthState Corp raised its position in shares of Emerson Electric by 5.0% in the 2nd quarter. SouthState Corp now owns 51,537 shares of the industrial products company’s stock valued at $6,871,000 after purchasing an additional 2,435 shares in the last quarter. Ethos Financial Group LLC boosted its stake in shares of Emerson Electric by 14.3% during the 2nd quarter. Ethos Financial Group LLC now owns 1,916 shares of the industrial products company’s stock valued at $255,000 after buying an additional 239 shares during the last quarter. Finally, Centerpoint Advisory Group bought a new stake in shares of Emerson Electric in the second quarter worth $214,000. Hedge funds and other institutional investors own 74.30% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Citigroup raised their price objective on shares of Emerson Electric from $146.00 to $165.00 and gave the stock a “buy” rating in a report on Monday, July 14th. Daiwa Capital Markets boosted their price objective on Emerson Electric from $150.00 to $153.00 and gave the company an “outperform” rating in a report on Wednesday, September 24th. Royal Bank Of Canada reduced their target price on Emerson Electric from $155.00 to $153.00 and set an “outperform” rating on the stock in a report on Thursday. Wolfe Research lowered their price target on Emerson Electric from $173.00 to $172.00 and set an “outperform” rating for the company in a report on Wednesday, October 8th. Finally, Barclays raised their price objective on Emerson Electric from $127.00 to $135.00 and gave the stock an “equal weight” rating in a research note on Thursday. Two 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 assigned a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $148.61.

Emerson Electric Price Performance

Shares of NYSE:EMR opened at $129.27 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 current ratio of 0.85, a quick ratio of 0.63 and a debt-to-equity ratio of 0.42. The firm has a market capitalization of $72.75 billion, a P/E ratio of 27.80, a PEG ratio of 2.36 and a beta of 1.30. The firm’s 50 day moving average is $132.37 and its two-hundred day moving average is $129.56.

Emerson Electric (NYSE:EMR) last announced its quarterly earnings results 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 during the quarter. Emerson Electric had a return on equity of 14.34% and a net margin of 14.92%. Analysts anticipate that Emerson Electric Co. will post 5.96 earnings per share for the current year.

Emerson Electric Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 10th. Shareholders of record on Friday, November 14th will be paid a dividend of $0.555 per share. This represents a $2.22 annualized dividend and a 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 dividend payout ratio is 54.95%.

Emerson Electric announced that its Board of Directors has approved a stock buyback program on Wednesday, November 5th that permits the company to buyback $0.00 in outstanding shares. This buyback authorization permits the industrial products company to buy shares of its stock through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its shares are undervalued.

Emerson Electric Company 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.