Sovereign Financial Group Inc. Acquires New Stake in Emerson Electric Co. $EMR

Sovereign Financial Group Inc. bought a new position in Emerson Electric Co. (NYSE:EMR) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 1,709 shares of the industrial products company’s stock, valued at approximately $228,000.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Concurrent Investment Advisors LLC increased its holdings in shares of Emerson Electric by 0.3% in the 2nd quarter. Concurrent Investment Advisors LLC now owns 50,283 shares of the industrial products company’s stock worth $6,704,000 after purchasing an additional 154 shares in the last quarter. Cerro Pacific Wealth Advisors LLC increased its holdings in shares of Emerson Electric by 2.7% in the 2nd quarter. Cerro Pacific Wealth Advisors LLC now owns 5,791 shares of the industrial products company’s stock worth $772,000 after purchasing an additional 151 shares in the last quarter. Van Strum & Towne Inc. increased its holdings in shares of Emerson Electric by 4.8% in the 2nd quarter. Van Strum & Towne Inc. now owns 48,319 shares of the industrial products company’s stock worth $6,442,000 after purchasing an additional 2,205 shares in the last quarter. BCR Wealth Strategies LLC increased its holdings in shares of Emerson Electric by 4.6% in the 2nd quarter. BCR Wealth Strategies LLC now owns 3,743 shares of the industrial products company’s stock worth $499,000 after purchasing an additional 165 shares in the last quarter. Finally, Drucker Wealth 3.0 LLC bought a new stake in shares of Emerson Electric in the 2nd quarter worth $965,000. Institutional investors own 74.30% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on EMR shares. Wolfe Research cut their price objective on Emerson Electric from $173.00 to $172.00 and set an “outperform” rating for the company in a report on Wednesday, October 8th. Daiwa Capital Markets lifted their price objective on Emerson Electric from $150.00 to $153.00 and gave the stock an “outperform” rating in a report on Wednesday, September 24th. Barclays raised Emerson Electric from an “underweight” rating to an “equal weight” rating and lifted their price objective for the stock from $125.00 to $127.00 in a report on Thursday, August 7th. TD Cowen raised Emerson Electric to a “strong-buy” rating in a report on Tuesday, July 8th. Finally, KeyCorp lifted their price objective on Emerson Electric from $150.00 to $155.00 and gave the stock an “overweight” rating in a report on Tuesday, July 1st. Two investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $145.56.

Emerson Electric Price Performance

NYSE EMR opened at $125.99 on Monday. The company has a market capitalization of $70.91 billion, a PE ratio of 27.09, a price-to-earnings-growth ratio of 2.19 and a beta of 1.29. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.63 and a current ratio of 0.85. The business’s fifty day moving average is $132.66 and its 200 day moving average is $125.34. Emerson Electric Co. has a fifty-two week low of $90.06 and a fifty-two week high of $150.27.

Emerson Electric (NYSE:EMR) last released its earnings results on Thursday, April 6th. The industrial products company reported $0.79 earnings per share for the quarter. The company had revenue of $3.16 billion for the quarter. Emerson Electric had a return on equity of 14.34% and a net margin of 14.92%. Sell-side analysts predict that Emerson Electric Co. will post 5.96 earnings per share for the current year.

Emerson Electric Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Friday, August 15th were given a $0.5275 dividend. This represents a $2.11 annualized dividend and a dividend yield of 1.7%. The ex-dividend date was Friday, August 15th. Emerson Electric’s payout ratio is presently 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.