Bard Financial Services Inc. Decreases Stake in Emerson Electric Co. $EMR

Bard Financial Services Inc. cut its holdings in Emerson Electric Co. (NYSE:EMR) by 5.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,805 shares of the industrial products company’s stock after selling 330 shares during the period. Bard Financial Services Inc.’s holdings in Emerson Electric were worth $774,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Nuveen LLC bought a new position in Emerson Electric during the first quarter valued at about $737,318,000. Pacer Advisors Inc. increased its stake in shares of Emerson Electric by 4,583.7% during the 1st 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 last quarter. Alliancebernstein L.P. raised its holdings in shares of Emerson Electric by 218.7% in the 1st 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. Massachusetts Financial Services Co. MA grew its holdings in Emerson Electric by 210.8% during the first 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 purchasing an additional 1,333,839 shares during the period. Finally, GAMMA Investing LLC raised its stake in shares of Emerson Electric by 12,707.7% in the first quarter. GAMMA Investing LLC now owns 1,126,441 shares of the industrial products company’s stock valued at $123,503,000 after buying an additional 1,117,646 shares during the period. Hedge funds and other institutional investors own 74.30% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. TD Cowen upgraded Emerson Electric to a “strong-buy” rating in a research note on Tuesday, July 8th. Stephens boosted their price target on shares of Emerson Electric from $130.00 to $145.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 16th. Barclays upgraded shares of Emerson Electric from an “underweight” rating to an “equal weight” rating and lifted their price objective for the company from $125.00 to $127.00 in a research note on Thursday, August 7th. Citigroup increased their target price on Emerson Electric from $146.00 to $165.00 and gave the stock a “buy” rating in a research report on Monday, July 14th. Finally, Wells Fargo & Company lifted their price target on Emerson Electric from $135.00 to $150.00 and gave the company an “overweight” rating in a research report on Tuesday, July 1st. Two research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Emerson Electric currently has an average rating of “Moderate Buy” and a consensus target price of $142.39.

Emerson Electric Stock Down 1.7%

Shares of NYSE EMR opened at $135.19 on Monday. 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 business has a 50-day moving average of $137.38 and a 200-day moving average of $122.86. The firm has a market capitalization of $76.08 billion, a price-to-earnings ratio of 29.07, a PEG ratio of 2.63 and a beta of 1.30. Emerson Electric Co. has a 12 month low of $90.06 and a 12 month high of $150.27.

Emerson Electric (NYSE:EMR) last issued its quarterly earnings results on Wednesday, August 6th. The industrial products company reported $1.52 EPS for the quarter, topping analysts’ consensus estimates of $1.51 by $0.01. Emerson Electric had a net margin of 14.92% and a return on equity of 14.34%. The firm had revenue of $4.55 billion for the quarter, compared to analyst estimates of $4.60 billion. During the same quarter in the prior year, the firm earned $1.43 EPS. The business’s revenue for the quarter was up 3.9% compared to the same quarter last year. Sell-side analysts expect that Emerson Electric Co. will post 5.96 earnings per share for the current fiscal year.

Emerson Electric Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Friday, August 15th were paid a $0.5275 dividend. The ex-dividend date of this dividend was Friday, August 15th. This represents a $2.11 annualized dividend and a yield of 1.6%. Emerson Electric’s dividend payout ratio 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.