Proffitt & Goodson Inc. Increases Holdings in Emerson Electric Co. $EMR

Proffitt & Goodson Inc. raised its holdings in shares of Emerson Electric Co. (NYSE:EMR) by 0.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,157 shares of the industrial products company’s stock after buying an additional 88 shares during the quarter. Proffitt & Goodson Inc.’s holdings in Emerson Electric were worth $1,354,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Wellington Management Group LLP grew its position in Emerson Electric by 6.9% during the first quarter. Wellington Management Group LLP now owns 15,280,950 shares of the industrial products company’s stock worth $1,675,403,000 after buying an additional 980,652 shares in the last quarter. JPMorgan Chase & Co. grew its position in Emerson Electric by 9.3% during the first quarter. JPMorgan Chase & Co. now owns 7,166,817 shares of the industrial products company’s stock worth $785,770,000 after buying an additional 611,105 shares in the last quarter. Nuveen LLC purchased a new position in Emerson Electric during the first quarter worth about $737,318,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Emerson Electric by 5.8% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,086,580 shares of the industrial products company’s stock worth $448,053,000 after buying an additional 223,831 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its position in Emerson Electric by 18.0% during the first quarter. Goldman Sachs Group Inc. now owns 3,793,436 shares of the industrial products company’s stock worth $415,912,000 after buying an additional 579,653 shares in the last quarter. 74.30% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. Stephens boosted their target price on Emerson Electric from $130.00 to $145.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 16th. KeyCorp lifted their price target on Emerson Electric from $150.00 to $155.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 1st. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Emerson Electric in a research note on Saturday, September 27th. Deutsche Bank Aktiengesellschaft lifted 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, Barclays raised Emerson Electric from an “underweight” rating to an “equal weight” rating and lifted their price target for the stock from $125.00 to $127.00 in a research note on Thursday, August 7th. Two investment analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $144.29.

Emerson Electric Trading Down 2.5%

NYSE EMR opened at $131.40 on Wednesday. Emerson Electric Co. has a 1-year low of $90.06 and a 1-year 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 stock has a 50-day moving average of $133.51 and a 200-day moving average of $124.93. The firm has a market cap of $73.95 billion, a PE ratio of 28.26, a price-to-earnings-growth ratio of 2.34 and a beta of 1.29.

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

Emerson Electric Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Friday, August 15th were issued a dividend of $0.5275 per share. This represents a $2.11 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date was Friday, August 15th. Emerson Electric’s 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.