Mackenzie Financial Corp Sells 2,610 Shares of Emerson Electric Co. $EMR

Mackenzie Financial Corp reduced its stake in shares of Emerson Electric Co. (NYSE:EMR) by 0.3% in the second quarter, Holdings Channel reports. The fund owned 796,138 shares of the industrial products company’s stock after selling 2,610 shares during the quarter. Mackenzie Financial Corp’s holdings in Emerson Electric were worth $106,149,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently modified their holdings of the stock. Saudi Central Bank bought a new position in Emerson Electric during the first quarter valued at $25,000. Winnow Wealth LLC purchased a new position in shares of Emerson Electric during the 2nd quarter valued at $34,000. PFS Partners LLC lifted its position in shares of Emerson Electric by 65.9% during the 2nd quarter. PFS Partners LLC now owns 272 shares of the industrial products company’s stock valued at $36,000 after buying an additional 108 shares during the last quarter. Traub Capital Management LLC bought a new position in shares of Emerson Electric during the 2nd quarter worth $37,000. Finally, Princeton Global Asset Management LLC purchased a new stake in Emerson Electric in the 2nd quarter worth about $38,000. Institutional investors own 74.30% of the company’s stock.

Analyst Upgrades and Downgrades

EMR has been the subject of a number of research reports. Barclays increased their target price on shares of Emerson Electric from $127.00 to $135.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 6th. Wells Fargo & Company restated an “equal weight” rating and set a $140.00 price target (down from $150.00) on shares of Emerson Electric in a research note on Monday, October 6th. Daiwa Capital Markets raised their price objective on shares of Emerson Electric from $150.00 to $153.00 and gave the stock an “outperform” rating in a report on Wednesday, September 24th. JPMorgan Chase & Co. lowered their target price on shares of Emerson Electric from $151.00 to $150.00 and set a “neutral” rating on the stock in a report on Monday, November 10th. Finally, Jefferies Financial Group dropped their target price on Emerson Electric from $155.00 to $145.00 and set a “buy” rating on the stock in a research report on Friday, November 21st. Two research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $148.13.

Emerson Electric Stock Performance

Emerson Electric stock opened at $134.03 on Friday. 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 firm has a market capitalization of $75.30 billion, a PE ratio of 28.82, a price-to-earnings-growth ratio of 2.36 and a beta of 1.30. The firm’s 50 day simple moving average is $131.35 and its 200 day simple moving average is $131.91.

Emerson Electric (NYSE:EMR) last released its quarterly 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 during the quarter. Emerson Electric had a net margin of 14.92% and a return on equity of 14.34%. As a group, analysts expect that Emerson Electric Co. will post 5.96 earnings per share for the current fiscal year.

Emerson Electric Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 10th. Shareholders of record on Friday, November 14th will be paid a $0.555 dividend. The ex-dividend date is Friday, November 14th. This represents a $2.22 dividend on an annualized basis and a yield of 1.7%. This is an increase from Emerson Electric’s previous quarterly dividend of $0.53. Emerson Electric’s dividend payout ratio is currently 54.95%.

Emerson Electric announced that its Board of Directors has initiated a share buyback plan on Wednesday, November 5th that allows the company to buyback $0.00 in shares. This buyback authorization allows the industrial products company to reacquire shares of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.

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.