Clark Asset Management LLC Takes Position in Emerson Electric Co. $EMR

Clark Asset Management LLC acquired a new stake in Emerson Electric Co. (NYSE:EMR) in the 2nd quarter, HoldingsChannel reports. The fund acquired 4,922 shares of the industrial products company’s stock, valued at approximately $656,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. First Horizon Advisors Inc. boosted its stake in shares of Emerson Electric by 2.7% in the first quarter. First Horizon Advisors Inc. now owns 212,252 shares of the industrial products company’s stock valued at $23,271,000 after purchasing an additional 5,504 shares during the period. Davis Investment Partners LLC purchased a new position in shares of Emerson Electric in the second quarter valued at approximately $692,000. North Capital Inc. purchased a new position in shares of Emerson Electric in the first quarter valued at approximately $211,000. CORDA Investment Management LLC. purchased a new position in Emerson Electric in the second quarter worth approximately $1,173,000. Finally, Truist Financial Corp lifted its stake in Emerson Electric by 1.7% in the first quarter. Truist Financial Corp now owns 1,078,616 shares of the industrial products company’s stock worth $118,259,000 after acquiring an additional 18,069 shares during the last quarter. Hedge funds and other institutional investors own 74.30% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Bank of America lifted their price target on shares of Emerson Electric from $130.00 to $155.00 and gave the stock a “buy” rating in a research note on Wednesday, July 2nd. Barclays upgraded shares of Emerson Electric from an “underweight” rating to an “equal weight” rating and lifted their price target for the stock from $125.00 to $127.00 in a research note on Thursday, August 7th. TD Cowen upgraded shares of Emerson Electric to a “strong-buy” rating in a research note on Tuesday, July 8th. Daiwa Capital Markets lifted their price target on shares of Emerson Electric from $150.00 to $153.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 24th. Finally, KeyCorp lifted their price target on shares of Emerson Electric from $150.00 to $155.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 1st. Two analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $148.28.

Emerson Electric Trading Up 1.3%

NYSE EMR opened at $134.41 on Tuesday. 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 firm’s fifty day moving average price is $131.83 and its 200 day moving average price is $127.51. The company has a market capitalization of $75.64 billion, a price-to-earnings ratio of 28.90, a price-to-earnings-growth ratio of 2.29 and a beta of 1.29. Emerson Electric Co. has a 12 month low of $90.06 and a 12 month high of $150.27.

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

Emerson Electric Announces Dividend

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

Emerson Electric Company 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.