Swedbank AB Lowers Position in Emerson Electric Co. (NYSE:EMR)

Swedbank AB lessened its stake in Emerson Electric Co. (NYSE:EMR) by 2.1% during the second quarter, Holdings Channel reports. The firm owned 1,119,639 shares of the industrial products company’s stock after selling 23,634 shares during the period. Swedbank AB’s holdings in Emerson Electric were worth $123,339,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in the stock. Thrive Wealth Management LLC grew its stake in Emerson Electric by 4.1% in the second quarter. Thrive Wealth Management LLC now owns 2,319 shares of the industrial products company’s stock valued at $255,000 after purchasing an additional 91 shares in the last quarter. PFG Advisors lifted its stake in Emerson Electric by 3.8% in the first quarter. PFG Advisors now owns 2,591 shares of the industrial products company’s stock valued at $294,000 after acquiring an additional 96 shares during the last quarter. Unison Advisors LLC increased its stake in shares of Emerson Electric by 0.5% during the 2nd quarter. Unison Advisors LLC now owns 21,016 shares of the industrial products company’s stock worth $2,315,000 after purchasing an additional 96 shares during the last quarter. Lake Street Private Wealth LLC lifted its stake in shares of Emerson Electric by 2.3% in the 1st quarter. Lake Street Private Wealth LLC now owns 4,412 shares of the industrial products company’s stock valued at $500,000 after purchasing an additional 99 shares during the last quarter. Finally, Harbour Capital Advisors LLC raised its holdings in Emerson Electric by 1.7% during the first quarter. Harbour Capital Advisors LLC now owns 6,136 shares of the industrial products company’s stock valued at $695,000 after buying an additional 100 shares in the last quarter. 74.30% of the stock is owned by hedge funds and other institutional investors.

Emerson Electric Price Performance

Shares of Emerson Electric stock traded down $1.22 during mid-day trading on Friday, reaching $103.07. 3,416,283 shares of the stock were exchanged, compared to its average volume of 2,703,502. The company has a market cap of $58.97 billion, a price-to-earnings ratio of 5.50, a price-to-earnings-growth ratio of 1.93 and a beta of 1.32. Emerson Electric Co. has a fifty-two week low of $83.10 and a fifty-two week high of $119.53. The company has a current ratio of 1.18, a quick ratio of 0.87 and a debt-to-equity ratio of 0.28. The firm has a 50-day simple moving average of $110.28 and a 200 day simple moving average of $109.36.

Emerson Electric (NYSE:EMR) last released its quarterly earnings results on Wednesday, August 7th. The industrial products company reported $1.43 EPS for the quarter, topping analysts’ consensus estimates of $1.42 by $0.01. Emerson Electric had a return on equity of 11.14% and a net margin of 64.97%. The business had revenue of $4.38 billion for the quarter, compared to analyst estimates of $4.44 billion. During the same period in the prior year, the company earned $1.29 EPS. Emerson Electric’s revenue for the quarter was up 11.0% on a year-over-year basis. On average, sell-side analysts predict that Emerson Electric Co. will post 5.47 EPS for the current fiscal year.

Emerson Electric Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Friday, August 16th will be issued a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a yield of 2.04%. The ex-dividend date of this dividend is Friday, August 16th. Emerson Electric’s dividend payout ratio is currently 11.24%.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on EMR shares. Robert W. Baird upped their price target on Emerson Electric from $116.00 to $117.00 and gave the stock a “neutral” rating in a research note on Thursday, August 8th. Loop Capital increased their target price on Emerson Electric from $130.00 to $135.00 and gave the company a “buy” rating in a research note on Friday, May 10th. Barclays reduced their price objective on Emerson Electric from $110.00 to $103.00 and set an “equal weight” rating for the company in a research report on Thursday, August 8th. StockNews.com lowered Emerson Electric from a “buy” rating to a “hold” rating in a research note on Thursday, July 25th. Finally, Redburn Atlantic began coverage on Emerson Electric in a research report on Monday, July 8th. They issued a “buy” rating and a $135.00 price objective for the company. Five investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, Emerson Electric currently has an average rating of “Moderate Buy” and a consensus price target of $124.33.

About Emerson Electric

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.