Fortitude Advisory Group L.L.C. Cuts Stock Holdings in Emerson Electric Co. $EMR

Fortitude Advisory Group L.L.C. trimmed its holdings in shares of Emerson Electric Co. (NYSE:EMR) by 6.7% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 4,018 shares of the industrial products company’s stock after selling 290 shares during the period. Fortitude Advisory Group L.L.C.’s holdings in Emerson Electric were worth $536,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in EMR. Nuveen LLC purchased a new stake in Emerson Electric during the first quarter valued at about $737,318,000. Pacer Advisors Inc. boosted its position in Emerson Electric by 4,583.7% during the first quarter. Pacer Advisors Inc. now owns 2,185,049 shares of the industrial products company’s stock valued at $239,569,000 after buying an additional 2,138,397 shares during the period. Alliancebernstein L.P. boosted its position in Emerson Electric by 218.7% during the first quarter. Alliancebernstein L.P. now owns 2,468,732 shares of the industrial products company’s stock valued at $270,672,000 after buying an additional 1,693,999 shares during the period. Massachusetts Financial Services Co. MA raised its stake in shares of 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 acquiring an additional 1,333,839 shares during the last quarter. Finally, Wellington Management Group LLP raised its stake in shares of 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 valued at $1,675,403,000 after acquiring an additional 980,652 shares during the last quarter. 74.30% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

EMR has been the subject of several recent analyst reports. Bank of America upped their price objective on shares of Emerson Electric from $130.00 to $155.00 and gave the company a “buy” rating in a research note on Wednesday, July 2nd. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Emerson Electric from $157.00 to $159.00 and gave the company a “buy” rating in a research note on Thursday. Citigroup upped their price objective on shares of Emerson Electric from $146.00 to $165.00 and gave the company a “buy” rating in a research note on Monday, July 14th. Stephens upped their price objective on shares of Emerson Electric from $130.00 to $145.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 16th. Finally, KeyCorp upped their price objective 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. Two analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $144.88.

Emerson Electric Price Performance

EMR stock opened at $134.79 on Friday. Emerson Electric Co. has a 1 year low of $90.06 and a 1 year high of $150.27. The company has a market cap of $75.86 billion, a P/E ratio of 28.99, a PEG ratio of 2.37 and a beta of 1.29. The firm has a 50-day moving average of $134.13 and a 200 day moving average of $124.64. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.85 and a quick ratio of 0.63.

Emerson Electric (NYSE:EMR) last released its quarterly earnings results on Wednesday, August 6th. The industrial products company reported $1.52 earnings per share (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 company had revenue of $4.55 billion during the quarter, compared to the consensus estimate of $4.60 billion. During the same period in the prior year, the firm earned $1.43 earnings per share. Emerson Electric’s revenue was up 3.9% on a year-over-year basis. On average, sell-side analysts forecast that Emerson Electric Co. will post 5.96 EPS for the current year.

Emerson Electric Dividend Announcement

The firm 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. The ex-dividend date of this dividend was Friday, August 15th. This represents a $2.11 dividend on an annualized basis and a dividend yield of 1.6%. Emerson Electric’s dividend payout ratio (DPR) is currently 45.38%.

Emerson Electric Company 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.