Greenleaf Trust Decreases Stock Position in Emerson Electric Co. $EMR

Greenleaf Trust lessened its stake in shares of Emerson Electric Co. (NYSE:EMR) by 22.2% in the second quarter, HoldingsChannel.com reports. The firm owned 28,085 shares of the industrial products company’s stock after selling 8,011 shares during the quarter. Greenleaf Trust’s holdings in Emerson Electric were worth $3,745,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. First Horizon Advisors Inc. increased its stake in shares of Emerson Electric by 2.7% during the first quarter. First Horizon Advisors Inc. now owns 212,252 shares of the industrial products company’s stock valued at $23,271,000 after buying an additional 5,504 shares during the period. North Capital Inc. purchased a new stake in shares of Emerson Electric in the 1st quarter worth about $211,000. Davis Investment Partners LLC bought a new stake in shares of Emerson Electric during the 2nd quarter valued at about $692,000. Golden State Equity Partners bought a new position in Emerson Electric in the first quarter worth about $459,000. Finally, Truist Financial Corp grew its holdings in shares of Emerson Electric by 1.7% during the 1st quarter. Truist Financial Corp now owns 1,078,616 shares of the industrial products company’s stock worth $118,259,000 after acquiring an additional 18,069 shares during the period. 74.30% of the stock is owned by hedge funds and other institutional investors.

Emerson Electric Trading Up 1.5%

Shares of Emerson Electric stock opened at $131.18 on Wednesday. Emerson Electric Co. has a fifty-two week low of $90.06 and a fifty-two week high of $150.27. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.63 and a current ratio of 0.85. The company has a market capitalization of $73.83 billion, a P/E ratio of 28.21, a P/E/G ratio of 2.45 and a beta of 1.30. The company has a fifty day moving average of $135.02 and a 200 day moving average of $124.21.

Emerson Electric (NYSE:EMR) last announced its quarterly earnings results on Wednesday, August 6th. The industrial products company reported $1.52 EPS for the quarter, topping 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 business had revenue of $4.55 billion for the quarter, compared to analysts’ expectations of $4.60 billion. During the same quarter in the previous year, the company earned $1.43 EPS. The business’s quarterly revenue was up 3.9% compared to the same quarter last year. On average, sell-side analysts anticipate that Emerson Electric Co. will post 5.96 earnings per share for the current fiscal year.

Emerson Electric Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Friday, August 15th were paid a dividend of $0.5275 per share. This represents a $2.11 annualized dividend and a dividend yield of 1.6%. The ex-dividend date of this dividend was Friday, August 15th. Emerson Electric’s payout ratio is currently 45.38%.

Analysts Set New Price Targets

Several equities analysts have commented on EMR shares. TD Cowen raised Emerson Electric to a “strong-buy” rating in a research report on Tuesday, July 8th. Citigroup boosted their price objective on shares of Emerson Electric from $146.00 to $165.00 and gave the stock a “buy” rating in a research note on Monday, July 14th. KeyCorp raised their target price on shares of Emerson Electric from $150.00 to $155.00 and gave the company an “overweight” rating in a research note on Tuesday, July 1st. Stephens upped their price target on Emerson Electric from $130.00 to $145.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 16th. Finally, Barclays raised Emerson Electric from an “underweight” rating to an “equal weight” rating and increased their target price for the stock from $125.00 to $127.00 in a research note on Thursday, August 7th. Two analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $143.76.

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.