Russell Investments Group Ltd. lessened its stake in Emerson Electric Co. (NYSE:EMR) by 12.6% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 162,018 shares of the industrial products company’s stock after selling 23,322 shares during the quarter. Russell Investments Group Ltd.’s holdings in Emerson Electric were worth $10,808,000 at the end of the most recent reporting period.
Several other hedge funds also recently bought and sold shares of EMR. Gradient Investments LLC increased its position in shares of Emerson Electric by 164.4% during the third quarter. Gradient Investments LLC now owns 386 shares of the industrial products company’s stock valued at $26,000 after acquiring an additional 240 shares during the last quarter. Candriam Luxembourg S.C.A. increased its position in shares of Emerson Electric by 12.8% during the third quarter. Candriam Luxembourg S.C.A. now owns 382,028 shares of the industrial products company’s stock valued at $26,000 after acquiring an additional 43,374 shares during the last quarter. Ellevest Inc. increased its position in shares of Emerson Electric by 110.0% during the second quarter. Ellevest Inc. now owns 420 shares of the industrial products company’s stock valued at $28,000 after acquiring an additional 220 shares during the last quarter. Larson Financial Group LLC increased its position in shares of Emerson Electric by 80.3% during the second quarter. Larson Financial Group LLC now owns 440 shares of the industrial products company’s stock valued at $29,000 after acquiring an additional 196 shares during the last quarter. Finally, Garrett Wealth Advisory Group LLC purchased a new stake in shares of Emerson Electric during the third quarter valued at approximately $31,000. Institutional investors own 70.28% of the company’s stock.
A number of analysts recently commented on EMR shares. Citigroup increased their price target on Emerson Electric from $77.00 to $83.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Argus downgraded Emerson Electric from a “buy” rating to a “hold” rating in a research report on Tuesday, August 13th. Cowen downgraded Emerson Electric from an “outperform” rating to a “market perform” rating and set a $72.00 price target for the company. in a research report on Wednesday, November 6th. Royal Bank of Canada raised Emerson Electric from a “sector perform” rating to an “outperform” rating and raised their target price for the stock from $65.00 to $77.00 in a research report on Monday, September 30th. Finally, Morgan Stanley raised their target price on Emerson Electric from $75.00 to $82.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 6th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the stock. Emerson Electric presently has an average rating of “Hold” and an average price target of $73.00.
NYSE:EMR opened at $73.58 on Thursday. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.19 and a quick ratio of 0.88. The business has a fifty day simple moving average of $68.66 and a two-hundred day simple moving average of $65.02. Emerson Electric Co. has a 1 year low of $55.38 and a 1 year high of $75.54. The company has a market capitalization of $45.40 billion, a P/E ratio of 19.94, a P/E/G ratio of 2.57 and a beta of 1.37.
Emerson Electric (NYSE:EMR) last released its earnings results on Tuesday, November 5th. The industrial products company reported $1.07 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $1.07. Emerson Electric had a return on equity of 26.32% and a net margin of 12.55%. The business had revenue of $4.97 billion during the quarter, compared to the consensus estimate of $5.02 billion. During the same period last year, the business posted $0.89 earnings per share. The business’s revenue for the quarter was up 1.7% on a year-over-year basis. As a group, analysts anticipate that Emerson Electric Co. will post 3.63 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Friday, November 15th will be given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 2.72%. The ex-dividend date of this dividend is Thursday, November 14th. Emerson Electric’s dividend payout ratio is currently 53.12%.
About Emerson Electric
Emerson Electric Co, a technology and engineering company, provides various solutions to industrial, commercial, and consumer markets worldwide. The company's Automation Solutions segment offers products and integrated solutions, including measurement and analytical instrumentation; valves, actuators, and regulators; industrial solutions; and process control systems and solutions.
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