Benedict Financial Advisors Inc. Reduces Stock Holdings in Emerson Electric Co. (NYSE:EMR)

Benedict Financial Advisors Inc. cut its holdings in shares of Emerson Electric Co. (NYSE:EMR) by 0.8% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 37,775 shares of the industrial products company’s stock after selling 319 shares during the period. Benedict Financial Advisors Inc.’s holdings in Emerson Electric were worth $4,132,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. American National Bank & Trust Co. VA acquired a new stake in Emerson Electric during the first quarter worth about $1,011,000. SG Americas Securities LLC increased its holdings in shares of Emerson Electric by 183.6% during the 1st quarter. SG Americas Securities LLC now owns 81,875 shares of the industrial products company’s stock valued at $9,286,000 after purchasing an additional 53,003 shares in the last quarter. Farther Finance Advisors LLC lifted its stake in shares of Emerson Electric by 55.0% in the 2nd quarter. Farther Finance Advisors LLC now owns 8,619 shares of the industrial products company’s stock valued at $931,000 after purchasing an additional 3,060 shares during the period. Norden Group LLC purchased a new stake in Emerson Electric during the first quarter worth $4,188,000. Finally, Daiwa Securities Group Inc. increased its holdings in Emerson Electric by 17.8% in the first quarter. Daiwa Securities Group Inc. now owns 100,029 shares of the industrial products company’s stock valued at $11,345,000 after buying an additional 15,098 shares in the last quarter. 74.30% of the stock is owned by hedge funds and other institutional investors.

Emerson Electric Trading Down 0.1 %

Emerson Electric stock traded down $0.13 during midday trading on Friday, hitting $108.13. 1,524,135 shares of the stock were exchanged, compared to its average volume of 2,692,833. The company has a current ratio of 1.16, a quick ratio of 0.86 and a debt-to-equity ratio of 0.27. The stock has a market capitalization of $61.86 billion, a price-to-earnings ratio of 5.79, a PEG ratio of 1.70 and a beta of 1.30. The stock’s 50-day simple moving average is $106.19 and its 200 day simple moving average is $109.04. Emerson Electric Co. has a fifty-two week low of $83.10 and a fifty-two week high of $119.53.

Emerson Electric (NYSE:EMR) last released its quarterly earnings data on Wednesday, August 7th. The industrial products company reported $1.43 EPS for the quarter, beating analysts’ consensus estimates of $1.42 by $0.01. The firm had revenue of $4.38 billion for the quarter, compared to analysts’ expectations of $4.44 billion. Emerson Electric had a return on equity of 11.41% and a net margin of 10.12%. The firm’s quarterly revenue was up 11.0% on a year-over-year basis. During the same period in the prior year, the firm posted $1.29 earnings per share. On average, equities analysts anticipate that Emerson Electric Co. will post 5.48 EPS for the current year.

Emerson Electric Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Friday, August 16th were paid a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a yield of 1.94%. The ex-dividend date of this dividend was Friday, August 16th. Emerson Electric’s dividend payout ratio (DPR) is presently 11.24%.

Wall Street Analyst Weigh In

EMR has been the topic of a number of analyst reports. Robert W. Baird raised their target price on Emerson Electric from $116.00 to $117.00 and gave the company a “neutral” rating in a research report on Thursday, August 8th. Royal Bank of Canada cut their price objective on Emerson Electric from $140.00 to $139.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. Oppenheimer increased their target price on Emerson Electric from $120.00 to $125.00 and gave the company an “outperform” rating in a research report on Thursday, September 26th. Redburn Atlantic initiated coverage on shares of Emerson Electric in a report on Monday, July 8th. They set a “buy” rating and a $135.00 price objective on the stock. Finally, Stephens downgraded shares of Emerson Electric from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $135.00 to $120.00 in a research report on Wednesday, October 16th. One analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, Emerson Electric presently has a consensus rating of “Moderate Buy” and a consensus price target of $125.47.

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.