Blackston Financial Advisory Group LLC Trims Stock Position in Emerson Electric Co. (NYSE:EMR)

by · The Markets Daily

Blackston Financial Advisory Group LLC lessened its stake in shares of Emerson Electric Co. (NYSE:EMR – Free Report) by 17.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,926 shares of the industrial products company’s stock after selling 411 shares during the quarter. Blackston Financial Advisory Group LLC’s holdings in Emerson Electric were worth $211,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. Newport Trust Company LLC purchased a new stake in Emerson Electric in the 2nd quarter valued at $574,908,000. Legal & General Group Plc raised its position in Emerson Electric by 5.2% during the 2nd quarter. Legal & General Group Plc now owns 4,510,496 shares of the industrial products company’s stock worth $496,877,000 after buying an additional 224,784 shares during the last quarter. Swedbank AB raised its position in Emerson Electric by 127.3% during the 3rd quarter. Swedbank AB now owns 2,544,439 shares of the industrial products company’s stock worth $278,285,000 after buying an additional 1,424,800 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Emerson Electric by 17.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,358,796 shares of the industrial products company’s stock worth $259,809,000 after buying an additional 355,106 shares during the last quarter. Finally, Van ECK Associates Corp raised its position in Emerson Electric by 6.8% during the 1st quarter. Van ECK Associates Corp now owns 2,106,958 shares of the industrial products company’s stock worth $238,971,000 after buying an additional 134,865 shares during the last quarter. Hedge funds and other institutional investors own 74.30% of the company’s stock.

Emerson Electric Stock Performance

Shares of NYSE EMR opened at $108.15 on Friday. The business has a fifty day simple moving average of $106.09 and a 200 day simple moving average of $109.08. The company has a current ratio of 1.16, a quick ratio of 0.86 and a debt-to-equity ratio of 0.27. The firm has a market capitalization of $61.87 billion, a price-to-earnings ratio of 5.79, a PEG ratio of 1.70 and a beta of 1.30. Emerson Electric Co. has a one year low of $83.10 and a one year high of $119.53.

Emerson Electric (NYSE:EMR – Get Free Report) last released its quarterly earnings data on Wednesday, August 7th. The industrial products company reported $1.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.42 by $0.01. Emerson Electric had a return on equity of 11.41% and a net margin of 10.12%. The firm had revenue of $4.38 billion during the quarter, compared to analyst estimates of $4.44 billion. During the same period in the prior year, the company posted $1.29 earnings per share. The business’s revenue for the quarter was up 11.0% compared to the same quarter last year. Sell-side analysts expect that Emerson Electric Co. will post 5.48 EPS for the current year.

Emerson Electric Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Friday, August 16th were issued a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a dividend yield of 1.94%. The ex-dividend date was Friday, August 16th. Emerson Electric’s dividend payout ratio (DPR) is presently 11.24%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Morgan Stanley assumed coverage on shares of Emerson Electric in a research report on Friday, September 6th. They set an “underweight” rating and a $105.00 price objective for the company. Royal Bank of Canada lowered their price target on shares of Emerson Electric from $140.00 to $139.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. StockNews.com cut shares of Emerson Electric from a “buy” rating to a “hold” rating in a research note on Thursday, July 25th. JPMorgan Chase & Co. cut shares of Emerson Electric from an “overweight” rating to a “neutral” rating and lowered their price target for the stock from $132.00 to $115.00 in a research note on Wednesday, August 14th. Finally, Robert W. Baird upped their price target on shares of Emerson Electric from $116.00 to $117.00 and gave the stock a “neutral” rating in a research note on Thursday, August 8th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $125.47.

Get Our Latest Analysis on EMR

Emerson Electric Profile

(Free Report)

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.

Further Reading

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