Laffer Tengler Investments Inc. Cuts Stock Holdings in Emerson Electric Co. $EMR

Laffer Tengler Investments Inc. lessened its position in Emerson Electric Co. (NYSE:EMR) by 33.6% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 52,303 shares of the industrial products company’s stock after selling 26,473 shares during the quarter. Emerson Electric makes up about 1.2% of Laffer Tengler Investments Inc.’s portfolio, making the stock its 26th largest holding. Laffer Tengler Investments Inc.’s holdings in Emerson Electric were worth $6,974,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in EMR. Saudi Central Bank acquired a new stake in Emerson Electric during the 1st quarter worth $25,000. MJT & Associates Financial Advisory Group Inc. purchased a new position in shares of Emerson Electric in the first quarter worth about $27,000. PFS Partners LLC boosted its position in Emerson Electric by 65.9% during the second quarter. PFS Partners LLC now owns 272 shares of the industrial products company’s stock worth $36,000 after acquiring an additional 108 shares during the last quarter. Princeton Global Asset Management LLC purchased a new stake in Emerson Electric during the 2nd quarter valued at about $38,000. Finally, Clal Insurance Enterprises Holdings Ltd raised its holdings in Emerson Electric by 436.4% in the 1st quarter. Clal Insurance Enterprises Holdings Ltd now owns 354 shares of the industrial products company’s stock valued at $39,000 after acquiring an additional 288 shares during the last quarter. 74.30% of the stock is currently owned by hedge funds and other institutional investors.

Emerson Electric Trading Down 1.7%

Shares of Emerson Electric stock opened at $129.27 on Monday. The stock has a 50 day moving average of $132.37 and a 200 day moving average of $129.97. 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 firm has a market capitalization of $72.75 billion, a price-to-earnings ratio of 27.80, a PEG ratio of 2.36 and a beta of 1.30. Emerson Electric Co. has a fifty-two week low of $90.06 and a fifty-two week high of $150.27.

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

Emerson Electric Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 10th. Shareholders of record on Friday, November 14th will be paid a dividend of $0.555 per share. This represents a $2.22 annualized dividend and a yield of 1.7%. This is a boost from Emerson Electric’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend is Friday, November 14th. Emerson Electric’s payout ratio is 54.95%.

Emerson Electric declared that its Board of Directors has approved a stock repurchase program on Wednesday, November 5th that authorizes the company to repurchase $0.00 in outstanding shares. This repurchase authorization authorizes the industrial products company to repurchase shares of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its stock is undervalued.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. JPMorgan Chase & Co. boosted their target price on Emerson Electric from $135.00 to $151.00 and gave the stock a “neutral” rating in a report on Wednesday, October 15th. Wolfe Research reduced their price objective on Emerson Electric from $173.00 to $172.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 8th. Stephens boosted their price objective 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. Royal Bank Of Canada cut their target price on Emerson Electric from $155.00 to $153.00 and set an “outperform” rating for the company in a research note on Thursday. Finally, Jefferies Financial Group reduced their price target on Emerson Electric from $160.00 to $155.00 and set a “buy” rating on the stock in a report on Tuesday, October 7th. Two analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Emerson Electric has an average rating of “Moderate Buy” and an average target price of $148.61.

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.