Rockland Trust Co. Lowers Holdings in Emerson Electric Co. $EMR

Rockland Trust Co. lessened its stake in Emerson Electric Co. (NYSE:EMR) by 3.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 68,937 shares of the industrial products company’s stock after selling 2,727 shares during the quarter. Rockland Trust Co.’s holdings in Emerson Electric were worth $9,191,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently modified their holdings of the stock. Exchange Traded Concepts LLC raised its position in shares of Emerson Electric by 2.3% in the 2nd quarter. Exchange Traded Concepts LLC now owns 180,707 shares of the industrial products company’s stock worth $24,094,000 after purchasing an additional 4,036 shares during the last quarter. Community Trust & Investment Co. purchased a new position in Emerson Electric in the 2nd quarter worth about $221,000. Atticus Wealth Management LLC raised its position in Emerson Electric by 482.3% in the 2nd quarter. Atticus Wealth Management LLC now owns 1,281 shares of the industrial products company’s stock worth $171,000 after buying an additional 1,061 shares during the last quarter. Mn Services Vermogensbeheer B.V. raised its position in Emerson Electric by 1.3% in the 2nd quarter. Mn Services Vermogensbeheer B.V. now owns 210,800 shares of the industrial products company’s stock worth $28,106,000 after buying an additional 2,700 shares during the last quarter. Finally, Swedbank AB raised its position in Emerson Electric by 3.8% in the 2nd quarter. Swedbank AB now owns 2,955,960 shares of the industrial products company’s stock worth $394,118,000 after buying an additional 108,982 shares during the last quarter. Hedge funds and other institutional investors own 74.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on EMR shares. Barclays raised Emerson Electric from an “underweight” rating to an “equal weight” rating and boosted their target price for the stock from $125.00 to $127.00 in a research report on Thursday, August 7th. Wells Fargo & Company boosted their target price on Emerson Electric from $135.00 to $150.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 1st. KeyCorp boosted their target price on 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 boosted their target price on Emerson Electric from $130.00 to $155.00 and gave the stock a “buy” rating in a research report on Wednesday, July 2nd. Finally, TD Cowen raised shares of Emerson Electric to a “strong-buy” rating in a research report on Tuesday, July 8th. Two 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 given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $142.39.

Emerson Electric Trading Up 0.7%

EMR stock opened at $131.95 on Friday. Emerson Electric Co. has a 1-year low of $90.06 and a 1-year high of $150.27. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.85 and a quick ratio of 0.63. The company has a market capitalization of $74.26 billion, a price-to-earnings ratio of 28.38, a PEG ratio of 2.48 and a beta of 1.30. The business has a 50 day simple moving average of $136.79 and a two-hundred day simple moving average of $123.16.

Emerson Electric (NYSE:EMR) last posted its quarterly earnings results on Wednesday, August 6th. The industrial products company reported $1.52 earnings per share for the quarter, topping 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 business had revenue of $4.55 billion during the quarter, compared to the consensus estimate of $4.60 billion. During the same period in the prior year, the company posted $1.43 EPS. The firm’s revenue for the quarter was up 3.9% compared to the same quarter last year. Research analysts anticipate that Emerson Electric Co. will post 5.96 EPS for the current fiscal year.

Emerson Electric Dividend Announcement

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

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.