Isthmus Partners LLC trimmed its stake in Emerson Electric Co. (NYSE:EMR) by 5.8% in the 2nd quarter, HoldingsChannel reports. The firm owned 110,070 shares of the industrial products company’s stock after selling 6,724 shares during the period. Emerson Electric makes up 1.9% of Isthmus Partners LLC’s portfolio, making the stock its 9th largest holding. Isthmus Partners LLC’s holdings in Emerson Electric were worth $10,593,000 as of its most recent SEC filing.
Other hedge funds have also modified their holdings of the company. Wagner Wealth Management LLC purchased a new stake in Emerson Electric in the 1st quarter worth $25,000. Moisand Fitzgerald Tamayo LLC purchased a new stake in Emerson Electric in the 2nd quarter worth $28,000. Simon Quick Advisors LLC boosted its holdings in shares of Emerson Electric by 66.8% during the 1st quarter. Simon Quick Advisors LLC now owns 312 shares of the industrial products company’s stock valued at $28,000 after purchasing an additional 125 shares during the last quarter. Certified Advisory Corp bought a new position in shares of Emerson Electric during the 1st quarter valued at about $35,000. Finally, Robbins Farley LLC bought a new position in shares of Emerson Electric during the 1st quarter valued at about $47,000. Institutional investors and hedge funds own 72.67% of the company’s stock.
EMR has been the subject of a number of analyst reports. Zacks Investment Research raised shares of Emerson Electric from a “hold” rating to a “buy” rating and set a $109.00 price target for the company in a report on Thursday, August 12th. Morgan Stanley raised their price objective on shares of Emerson Electric from $97.00 to $106.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 5th. Credit Suisse Group raised their price objective on shares of Emerson Electric from $103.00 to $108.00 and gave the stock an “outperform” rating in a research note on Thursday, August 5th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Emerson Electric from $103.00 to $111.00 and gave the stock a “buy” rating in a research note on Wednesday, July 14th. Finally, Cowen reaffirmed a “buy” rating on shares of Emerson Electric in a research report on Tuesday, August 31st. Two research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, Emerson Electric has an average rating of “Buy” and a consensus target price of $99.95.
NYSE EMR traded up $0.74 on Wednesday, hitting $98.39. The stock had a trading volume of 66,560 shares, compared to its average volume of 2,584,050. The business’s fifty day moving average price is $100.94 and its 200 day moving average price is $95.86. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.31 and a quick ratio of 1.00. Emerson Electric Co. has a 52-week low of $63.16 and a 52-week high of $105.99. The stock has a market cap of $58.82 billion, a price-to-earnings ratio of 24.97, a price-to-earnings-growth ratio of 2.42 and a beta of 1.54.
Emerson Electric (NYSE:EMR) last released its quarterly earnings results on Wednesday, August 4th. The industrial products company reported $1.09 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.98 by $0.11. Emerson Electric had a net margin of 13.20% and a return on equity of 26.77%. The business had revenue of $4.70 billion for the quarter, compared to analyst estimates of $4.58 billion. During the same period in the previous year, the company earned $0.80 earnings per share. The business’s revenue for the quarter was up 20.0% on a year-over-year basis. As a group, sell-side analysts anticipate that Emerson Electric Co. will post 4.08 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 10th. Stockholders of record on Friday, August 13th were paid a dividend of $0.505 per share. The ex-dividend date of this dividend was Thursday, August 12th. This represents a $2.02 annualized dividend and a dividend yield of 2.05%. Emerson Electric’s payout ratio is currently 58.38%.
Emerson Electric Profile
Emerson Electric Co is a global technology and engineering company, which provides innovative solutions for customers in industrial, commercial and residential markets. It operates through the following business segments: Automation Solutions; Climate Technologies; and Tools and Home Products. The Automation Solutions segment offers products, integrated solutions, software and services which enable process, hybrid and discrete manufacturers to maximize production, protect personnel and the environment, reduce project costs, and optimize their energy efficiency and operating costs.
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