LGT Fund Management Co Ltd. Buys 6,883 Shares of Emerson Electric Co. $EMR

LGT Fund Management Co Ltd. increased its stake in shares of Emerson Electric Co. (NYSE:EMR) by 63.9% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 17,650 shares of the industrial products company’s stock after acquiring an additional 6,883 shares during the period. LGT Fund Management Co Ltd.’s holdings in Emerson Electric were worth $2,353,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. First Horizon Advisors Inc. raised its holdings in Emerson Electric by 2.7% during the first quarter. First Horizon Advisors Inc. now owns 212,252 shares of the industrial products company’s stock worth $23,271,000 after acquiring an additional 5,504 shares in the last quarter. North Capital Inc. bought a new stake in Emerson Electric during the first quarter worth about $211,000. Davis Investment Partners LLC bought a new stake in Emerson Electric during the second quarter worth about $692,000. Golden State Equity Partners bought a new stake in Emerson Electric during the first quarter worth about $459,000. Finally, Truist Financial Corp increased its position in Emerson Electric by 1.7% during the first quarter. Truist Financial Corp now owns 1,078,616 shares of the industrial products company’s stock worth $118,259,000 after buying an additional 18,069 shares during the last quarter. Institutional investors own 74.30% of the company’s stock.

Emerson Electric Price Performance

Shares of NYSE EMR opened at $134.79 on Friday. The firm has a market cap of $75.86 billion, a P/E ratio of 28.99, a price-to-earnings-growth ratio of 2.34 and a beta of 1.29. The company has a current ratio of 0.85, a quick ratio of 0.63 and a debt-to-equity ratio of 0.42. Emerson Electric Co. has a 1-year low of $90.06 and a 1-year high of $150.27. The business’s 50 day moving average is $134.13 and its 200-day moving average is $124.55.

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

Emerson Electric Announces Dividend

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

Analyst Ratings Changes

A number of equities analysts have weighed in on EMR shares. TD Cowen raised Emerson Electric to a “strong-buy” rating in a research report on Tuesday, July 8th. Barclays raised Emerson Electric from an “underweight” rating to an “equal weight” rating and boosted their price target for the stock from $125.00 to $127.00 in a research report on Thursday, August 7th. Bank of America boosted their price target on Emerson Electric from $130.00 to $155.00 and gave the stock a “buy” rating in a research report on Wednesday, July 2nd. Citigroup boosted their price target on Emerson Electric from $146.00 to $165.00 and gave the stock a “buy” rating in a research report on Monday, July 14th. Finally, Stephens boosted their price target on Emerson Electric from $130.00 to $145.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 16th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, five have issued a Hold rating and one has given 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 $144.88.

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.