Wealthfront Advisers LLC Sells 1,411 Shares of Emerson Electric Co. $EMR

Wealthfront Advisers LLC lowered its stake in shares of Emerson Electric Co. (NYSE:EMR) by 2.6% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 53,624 shares of the industrial products company’s stock after selling 1,411 shares during the period. Wealthfront Advisers LLC’s holdings in Emerson Electric were worth $7,150,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. First Horizon Advisors Inc. raised its position in shares of Emerson Electric by 2.7% in the 1st 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. Davis Investment Partners LLC purchased a new position in Emerson Electric during the 2nd quarter valued at about $692,000. North Capital Inc. bought a new stake in Emerson Electric during the first quarter worth about $211,000. CORDA Investment Management LLC. purchased a new stake in Emerson Electric in the second quarter worth about $1,173,000. Finally, Truist Financial Corp lifted its holdings in shares of 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 valued at $118,259,000 after purchasing an additional 18,069 shares during the last quarter. 74.30% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

EMR has been the subject of a number of analyst reports. Wolfe Research reduced their price objective on Emerson Electric from $173.00 to $172.00 and set an “outperform” rating for the company in a research report on Wednesday, October 8th. Deutsche Bank Aktiengesellschaft lifted their price target on Emerson Electric from $157.00 to $159.00 and gave the stock a “buy” rating in a research report on Thursday, October 2nd. Jefferies Financial Group cut their price objective on shares of Emerson Electric from $160.00 to $155.00 and set a “buy” rating on the stock in a research report on Tuesday, October 7th. JPMorgan Chase & Co. lifted their target price on shares of Emerson Electric from $135.00 to $151.00 and gave the stock a “neutral” rating in a report on Wednesday, October 15th. Finally, Bank of America increased their price target on shares of Emerson Electric from $130.00 to $155.00 and gave the company a “buy” rating in a report on Wednesday, July 2nd. Two research 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 data from MarketBeat, Emerson Electric currently has an average rating of “Moderate Buy” and an average target price of $148.28.

Emerson Electric Trading Up 1.3%

Shares of NYSE:EMR opened at $134.41 on Tuesday. Emerson Electric Co. has a 52-week low of $90.06 and a 52-week high of $150.27. The stock has a market capitalization of $75.64 billion, a price-to-earnings ratio of 28.90, a PEG ratio of 2.29 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 stock’s 50-day simple moving average is $131.83 and its two-hundred day simple moving average is $127.51.

Emerson Electric (NYSE:EMR) last issued its quarterly earnings data on Thursday, April 6th. The industrial products company reported $0.79 earnings per share 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%. Analysts expect that Emerson Electric Co. will post 5.96 EPS for the current year.

Emerson Electric Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders 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 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.