Mechanics Financial Corp Increases Position in Emerson Electric Co. $EMR

Mechanics Financial Corp lifted its holdings in shares of Emerson Electric Co. (NYSE:EMR) by 1.1% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 8,362 shares of the industrial products company’s stock after acquiring an additional 95 shares during the quarter. Mechanics Financial Corp’s holdings in Emerson Electric were worth $1,115,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Impact Capital Partners LLC boosted its stake in Emerson Electric by 3.9% in the second quarter. Impact Capital Partners LLC now owns 1,909 shares of the industrial products company’s stock valued at $255,000 after acquiring an additional 71 shares during the period. Dominguez Wealth Management Solutions Inc. boosted its position in shares of Emerson Electric by 0.4% during the second quarter. Dominguez Wealth Management Solutions Inc. now owns 22,556 shares of the industrial products company’s stock worth $3,007,000 after buying an additional 84 shares during the period. Opal Wealth Advisors LLC boosted its position in shares of Emerson Electric by 14.1% during the second quarter. Opal Wealth Advisors LLC now owns 686 shares of the industrial products company’s stock worth $91,000 after buying an additional 85 shares during the period. Hohimer Wealth Management LLC raised its holdings in Emerson Electric by 0.3% during the first quarter. Hohimer Wealth Management LLC now owns 27,963 shares of the industrial products company’s stock worth $3,066,000 after purchasing an additional 95 shares in the last quarter. Finally, Clearstead Trust LLC raised its holdings in Emerson Electric by 7.4% during the first quarter. Clearstead Trust LLC now owns 1,406 shares of the industrial products company’s stock worth $154,000 after purchasing an additional 97 shares in the last quarter. 74.30% of the stock is owned by institutional investors.

Emerson Electric Price Performance

Shares of NYSE:EMR opened at $132.90 on Friday. The company’s fifty day moving average is $134.43 and its two-hundred day moving average is $124.39. The company has a quick ratio of 0.63, a current ratio of 0.85 and a debt-to-equity ratio of 0.42. Emerson Electric Co. has a 12-month low of $90.06 and a 12-month high of $150.27. The company has a market cap of $74.79 billion, a P/E ratio of 28.58, a price-to-earnings-growth ratio of 2.31 and a beta of 1.29.

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

Emerson Electric Dividend Announcement

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 dividend of $0.5275 per share. This represents a $2.11 annualized dividend and a yield of 1.6%. The ex-dividend date of this dividend was Friday, August 15th. Emerson Electric’s payout ratio is 45.38%.

Analysts Set New Price Targets

Several equities research analysts recently commented on EMR shares. Barclays raised Emerson Electric from an “underweight” rating to an “equal weight” rating and boosted their target price for the stock from $125.00 to $127.00 in a report on Thursday, August 7th. Stephens upped their price target on Emerson Electric from $130.00 to $145.00 and gave the company an “equal weight” rating in a report on Wednesday, July 16th. Wells Fargo & Company upped their price target on Emerson Electric from $135.00 to $150.00 and gave the company an “overweight” rating in a report on Tuesday, July 1st. Citigroup upped their price target on Emerson Electric from $146.00 to $165.00 and gave the company a “buy” rating in a report on Monday, July 14th. Finally, TD Cowen raised Emerson Electric to a “strong-buy” rating in a report on Tuesday, July 8th. Two investment analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $144.88.

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.