Veracity Capital LLC Sells 638 Shares of Emerson Electric Co. $EMR

Veracity Capital LLC trimmed its position in Emerson Electric Co. (NYSE:EMR) by 13.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,157 shares of the industrial products company’s stock after selling 638 shares during the quarter. Veracity Capital LLC’s holdings in Emerson Electric were worth $554,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Beacon Financial Group acquired a new stake in Emerson Electric in the second quarter valued at approximately $642,000. Czech National Bank boosted its position in Emerson Electric by 6.2% in the second quarter. Czech National Bank now owns 137,494 shares of the industrial products company’s stock valued at $18,332,000 after buying an additional 7,975 shares in the last quarter. Dover Advisors LLC boosted its position in Emerson Electric by 2.0% in the second quarter. Dover Advisors LLC now owns 12,084 shares of the industrial products company’s stock valued at $1,611,000 after buying an additional 232 shares in the last quarter. Davis Investment Partners LLC bought a new position in shares of Emerson Electric during the second quarter valued at $692,000. Finally, Canandaigua National Bank & Trust Co. raised its stake in shares of Emerson Electric by 14.8% during the second quarter. Canandaigua National Bank & Trust Co. now owns 12,571 shares of the industrial products company’s stock valued at $1,676,000 after acquiring an additional 1,622 shares during the last quarter. Institutional investors and hedge funds own 74.30% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. TD Cowen raised shares of Emerson Electric to a “strong-buy” rating in a research note on Tuesday, July 8th. KeyCorp increased their price objective on shares of Emerson Electric from $150.00 to $155.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 1st. Bank of America lifted their price objective on shares of Emerson Electric from $130.00 to $155.00 and gave the company a “buy” rating in a report on Wednesday, July 2nd. Stephens lifted their price objective on shares of Emerson Electric from $130.00 to $145.00 and gave the company an “equal weight” rating in a report on Wednesday, July 16th. Finally, Citigroup lifted their price objective on shares of Emerson Electric from $146.00 to $165.00 and gave the company a “buy” rating in a report on Monday, July 14th. Two research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $142.39.

Emerson Electric Stock Performance

NYSE EMR opened at $135.73 on Tuesday. The company’s 50 day simple moving average is $137.33 and its two-hundred day simple moving average is $122.96. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.85 and a quick ratio of 0.63. Emerson Electric Co. has a 1 year low of $90.06 and a 1 year high of $150.27. The stock has a market capitalization of $76.39 billion, a PE ratio of 29.19, a P/E/G ratio of 2.63 and a beta of 1.30.

Emerson Electric (NYSE:EMR) last released its quarterly earnings results on Wednesday, August 6th. The industrial products company reported $1.52 earnings per share for the quarter, beating the consensus estimate of $1.51 by $0.01. Emerson Electric had a return on equity of 14.34% and a net margin of 14.92%.The firm had revenue of $4.55 billion for the quarter, compared to analysts’ expectations of $4.60 billion. During the same quarter last year, the firm posted $1.43 EPS. The company’s revenue was up 3.9% compared to the same quarter last year. Analysts predict that Emerson Electric Co. will post 5.96 earnings per share for the current fiscal year.

Emerson Electric Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Friday, August 15th were paid a $0.5275 dividend. The ex-dividend date of this dividend was Friday, August 15th. This represents a $2.11 dividend on an annualized basis and a dividend yield of 1.6%. Emerson Electric’s dividend payout ratio is 45.38%.

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.