DAVENPORT & Co LLC Has $14.37 Million Stock Position in Emerson Electric Co. $EMR

DAVENPORT & Co LLC lessened its holdings in Emerson Electric Co. (NYSE:EMR) by 1.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 107,797 shares of the industrial products company’s stock after selling 1,774 shares during the period. DAVENPORT & Co LLC’s holdings in Emerson Electric were worth $14,370,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in EMR. Saudi Central Bank acquired a new stake in shares of Emerson Electric in the first quarter worth $25,000. MJT & Associates Financial Advisory Group Inc. acquired a new position in Emerson Electric during the 1st quarter worth $27,000. Inlight Wealth Management LLC acquired a new stake in shares of Emerson Electric in the first quarter valued at about $28,000. Fourth Dimension Wealth LLC increased its stake in shares of Emerson Electric by 145.3% in the first quarter. Fourth Dimension Wealth LLC now owns 260 shares of the industrial products company’s stock worth $29,000 after purchasing an additional 154 shares during the period. Finally, Garde Capital Inc. acquired a new position in shares of Emerson Electric during the 1st quarter worth about $36,000. 74.30% of the stock is currently owned by institutional investors and hedge funds.

Emerson Electric Trading Up 0.0%

EMR stock opened at $134.82 on Tuesday. Emerson Electric Co. has a 1-year low of $90.06 and a 1-year high of $150.27. The company has a current ratio of 0.85, a quick ratio of 0.63 and a debt-to-equity ratio of 0.42. The business’s 50 day moving average is $133.84 and its 200-day moving average is $124.88. The firm has a market cap of $75.88 billion, a P/E ratio of 28.99, a P/E/G ratio of 2.34 and a beta of 1.29.

Emerson Electric (NYSE:EMR) last announced its quarterly earnings results on Wednesday, August 6th. The industrial products company reported $1.52 EPS 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 business had revenue of $4.55 billion for the quarter, compared to analyst estimates of $4.60 billion. During the same quarter in the previous year, the firm earned $1.43 EPS. Emerson Electric’s quarterly revenue was up 3.9% on a year-over-year basis. Equities analysts anticipate that Emerson Electric Co. will post 5.96 earnings per share for the current fiscal year.

Emerson Electric Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Friday, August 15th were given a dividend of $0.5275 per share. The ex-dividend date 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 (DPR) is 45.38%.

Analyst Upgrades and Downgrades

EMR has been the topic of several recent analyst reports. Stephens lifted 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. KeyCorp boosted their target price 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. Citigroup raised their price target on shares of Emerson Electric from $146.00 to $165.00 and gave the stock a “buy” rating in a research report on Monday, July 14th. Barclays upgraded shares of Emerson Electric from an “underweight” rating to an “equal weight” rating and increased their target price for the company from $125.00 to $127.00 in a research note on Thursday, August 7th. Finally, Daiwa Capital Markets upped their price target on Emerson Electric from $150.00 to $153.00 and gave the company an “outperform” rating in a report on Wednesday, September 24th. Two analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Emerson Electric currently has an average rating of “Moderate Buy” and a consensus price target of $144.29.

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.