Armstrong Fleming & Moore Inc Buys New Stake in Emerson Electric Co. $EMR

Armstrong Fleming & Moore Inc purchased a new position in shares of Emerson Electric Co. (NYSE:EMR) during the 2nd quarter, Holdings Channel.com reports. The fund purchased 8,134 shares of the industrial products company’s stock, valued at approximately $1,085,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. First Horizon Advisors Inc. lifted its stake in 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 purchasing an additional 5,504 shares during the last quarter. North Capital Inc. bought a new stake in shares of Emerson Electric during the 1st quarter worth $211,000. Davis Investment Partners LLC bought a new stake in Emerson Electric in the 2nd quarter valued at $692,000. Golden State Equity Partners bought a new position in shares of Emerson Electric during the 1st quarter worth about $459,000. Finally, Truist Financial Corp increased its position 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 purchasing an additional 18,069 shares in the last quarter. Institutional investors own 74.30% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently commented on EMR. TD Cowen upgraded shares of Emerson Electric to a “strong-buy” rating in a research report on Tuesday, July 8th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Emerson Electric from $157.00 to $159.00 and gave the company a “buy” rating in a report on Thursday, October 2nd. KeyCorp boosted their target price on shares of Emerson Electric from $150.00 to $155.00 and gave the stock an “overweight” rating in a report on Tuesday, July 1st. Barclays upgraded shares of Emerson Electric from an “underweight” rating to an “equal weight” rating and upped their price target for the company from $125.00 to $127.00 in a research note on Thursday, August 7th. Finally, Stephens upped their price objective on shares of Emerson Electric from $130.00 to $145.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 16th. Two investment analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $144.29.

Emerson Electric Trading Up 1.2%

Shares of Emerson Electric stock opened at $133.10 on Thursday. The stock’s 50-day simple moving average is $133.25 and its 200 day simple moving average is $124.98. 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 $74.91 billion, a P/E ratio of 28.62, a P/E/G ratio of 2.29 and a beta of 1.29. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.63 and a current ratio of 0.85.

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

Emerson Electric Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Friday, August 15th were issued a $0.5275 dividend. The ex-dividend date was Friday, August 15th. This represents a $2.11 dividend on an annualized basis and a yield of 1.6%. Emerson Electric’s dividend payout ratio is 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.