Perennial Investment Advisors LLC Lowers Stock Holdings in Emerson Electric Co. $EMR

Perennial Investment Advisors LLC cut its holdings in Emerson Electric Co. (NYSE:EMR) by 18.3% in the 2nd quarter, HoldingsChannel reports. The fund owned 1,796 shares of the industrial products company’s stock after selling 402 shares during the period. Perennial Investment Advisors LLC’s holdings in Emerson Electric were worth $240,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in shares of Emerson Electric by 1.3% during the 2nd quarter. Vanguard Group Inc. now owns 54,129,898 shares of the industrial products company’s stock valued at $7,217,139,000 after acquiring an additional 695,105 shares during the last quarter. Wellington Management Group LLP increased its position in Emerson Electric by 6.9% during the first quarter. Wellington Management Group LLP now owns 15,280,950 shares of the industrial products company’s stock worth $1,675,403,000 after purchasing an additional 980,652 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Emerson Electric by 0.7% in the 2nd quarter. Geode Capital Management LLC now owns 12,143,357 shares of the industrial products company’s stock valued at $1,610,958,000 after purchasing an additional 89,192 shares during the last quarter. Nordea Investment Management AB grew its stake in shares of Emerson Electric by 19.5% during the 2nd quarter. Nordea Investment Management AB now owns 9,195,005 shares of the industrial products company’s stock valued at $1,223,947,000 after buying an additional 1,499,000 shares during the period. Finally, JPMorgan Chase & Co. increased its holdings in shares of Emerson Electric by 9.3% during the 1st quarter. JPMorgan Chase & Co. now owns 7,166,817 shares of the industrial products company’s stock worth $785,770,000 after buying an additional 611,105 shares during the last quarter. 74.30% of the stock is currently owned by institutional investors and hedge funds.

Emerson Electric Stock Performance

NYSE:EMR opened at $128.18 on Thursday. The firm has a 50-day moving average of $131.83 and a two-hundred day moving average of $131.09. 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 stock has a market cap of $72.01 billion, a P/E ratio of 27.56, a PEG ratio of 2.36 and a beta of 1.30. Emerson Electric Co. has a 1-year low of $90.06 and a 1-year high of $150.27.

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. Emerson Electric had a return on equity of 14.34% and a net margin of 14.92%.The business had revenue of $3.16 billion for the quarter. On average, research analysts expect that Emerson Electric Co. will post 5.96 earnings per share for the current fiscal year.

Emerson Electric announced that its Board of Directors has initiated a stock buyback plan on Wednesday, November 5th that permits the company to buyback $0.00 in outstanding shares. This buyback authorization permits the industrial products company to buy shares of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.

Emerson Electric Increases Dividend

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

Wall Street Analyst Weigh In

EMR has been the subject of several research analyst reports. Jefferies Financial Group dropped their price target on Emerson Electric from $160.00 to $155.00 and set a “buy” rating for the company in a research note on Tuesday, October 7th. Wells Fargo & Company reiterated an “equal weight” rating and set a $140.00 target price (down previously from $150.00) on shares of Emerson Electric in a report on Monday, October 6th. JPMorgan Chase & Co. cut their price target 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. Barclays boosted their price objective on shares of Emerson Electric from $127.00 to $135.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 6th. Finally, Royal Bank Of Canada reduced their target price on shares of Emerson Electric from $155.00 to $153.00 and set an “outperform” rating on the stock in a report on Thursday, November 6th. Two research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $149.00.

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.