Cornerstone Wealth Group LLC Takes $249,000 Position in Emerson Electric Co. $EMR

Cornerstone Wealth Group LLC acquired a new stake in shares of Emerson Electric Co. (NYSE:EMR) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 1,871 shares of the industrial products company’s stock, valued at approximately $249,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Brighton Jones LLC increased its holdings in shares of Emerson Electric by 74.1% in the fourth quarter. Brighton Jones LLC now owns 11,392 shares of the industrial products company’s stock worth $1,412,000 after buying an additional 4,850 shares during the period. GAMMA Investing LLC grew its holdings in shares of Emerson Electric by 16.8% during the 1st quarter. GAMMA Investing LLC now owns 10,274 shares of the industrial products company’s stock worth $1,126,000 after acquiring an additional 1,479 shares during the period. Wealth Enhancement Advisory Services LLC boosted its position in shares of Emerson Electric by 15.6% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 347,763 shares of the industrial products company’s stock worth $38,129,000 after purchasing an additional 46,998 shares in the last quarter. Ritholtz Wealth Management boosted its position in shares of Emerson Electric by 7.2% in the 1st quarter. Ritholtz Wealth Management now owns 12,534 shares of the industrial products company’s stock worth $1,374,000 after purchasing an additional 837 shares in the last quarter. Finally, Mission Wealth Management LP boosted its position in shares of Emerson Electric by 29.1% in the 1st quarter. Mission Wealth Management LP now owns 2,101 shares of the industrial products company’s stock worth $230,000 after purchasing an additional 473 shares in the last quarter. Institutional investors own 74.30% of the company’s stock.

Analyst Upgrades and Downgrades

EMR has been the topic of several recent analyst reports. Weiss Ratings reiterated a “buy (b-)” rating on shares of Emerson Electric in a research note on Wednesday, October 8th. Daiwa Capital Markets increased their price target on Emerson Electric from $150.00 to $153.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 24th. KeyCorp increased their price objective on shares of Emerson Electric from $150.00 to $155.00 and gave the company an “overweight” rating in a report on Tuesday, July 1st. Barclays raised shares of Emerson Electric from an “underweight” rating to an “equal weight” rating and increased their price target for the company from $125.00 to $127.00 in a report on Thursday, August 7th. Finally, Bank of America raised their price objective on shares of Emerson Electric from $130.00 to $155.00 and gave the stock a “buy” rating in a research note on Wednesday, July 2nd. Two research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Emerson Electric currently has an average rating of “Moderate Buy” and a consensus target price of $145.56.

Emerson Electric Stock Up 1.2%

EMR stock opened at $129.70 on Wednesday. Emerson Electric Co. has a 52 week low of $90.06 and a 52 week high of $150.27. The stock has a market capitalization of $73.00 billion, a P/E ratio of 27.89, a P/E/G ratio of 2.23 and a beta of 1.29. The company has a quick ratio of 0.63, a current ratio of 0.85 and a debt-to-equity ratio of 0.42. The firm has a 50-day simple moving average of $132.16 and a 200-day simple moving average of $125.51.

Emerson Electric (NYSE:EMR) last posted its earnings results on Thursday, April 6th. The industrial products company reported $0.79 earnings per share for the quarter. The company had revenue of $3.16 billion for the quarter. Emerson Electric had a net margin of 14.92% and a return on equity of 14.34%. Equities analysts forecast that Emerson Electric Co. will post 5.96 earnings per share for the current fiscal year.

Emerson Electric Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Friday, August 15th were given 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 dividend payout ratio (DPR) is presently 45.38%.

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.