Mechanics Bank Trust Department Cuts Position in Emerson Electric Co. $EMR

Mechanics Bank Trust Department lessened its stake in Emerson Electric Co. (NYSE:EMR) by 25.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 9,055 shares of the industrial products company’s stock after selling 3,061 shares during the period. Mechanics Bank Trust Department’s holdings in Emerson Electric were worth $1,207,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Saudi Central Bank purchased a new position in Emerson Electric during the first quarter valued at $25,000. MJT & Associates Financial Advisory Group Inc. bought a new position in Emerson Electric in the 1st quarter worth approximately $27,000. Inlight Wealth Management LLC purchased a new stake in shares of Emerson Electric during the 1st quarter worth approximately $28,000. Fourth Dimension Wealth LLC boosted its holdings in shares of Emerson Electric by 145.3% in the 1st quarter. Fourth Dimension Wealth LLC now owns 260 shares of the industrial products company’s stock worth $29,000 after purchasing an additional 154 shares during the period. Finally, Ameriflex Group Inc. bought a new position in shares of Emerson Electric during the fourth quarter valued at approximately $30,000. Hedge funds and other institutional investors own 74.30% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on EMR. Citigroup raised their price objective on Emerson Electric from $146.00 to $165.00 and gave the company a “buy” rating in a research report on Monday, July 14th. Stephens raised their price target on shares of Emerson Electric from $130.00 to $145.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 16th. TD Cowen upgraded Emerson Electric to a “strong-buy” rating in a research report on Tuesday, July 8th. KeyCorp upped their target price 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. Finally, Wells Fargo & Company upped their target price on Emerson Electric from $135.00 to $150.00 and gave the company an “overweight” rating in a research report on Tuesday, July 1st. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $142.39.

Emerson Electric Stock Performance

Shares of EMR stock opened at $132.36 on Monday. Emerson Electric Co. has a one year low of $90.06 and a one year high of $150.27. 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 $74.49 billion, a P/E ratio of 28.46, a P/E/G ratio of 2.51 and a beta of 1.30. The company has a fifty day moving average price of $136.63 and a two-hundred day moving average price of $123.39.

Emerson Electric (NYSE:EMR) last posted its quarterly earnings results on Wednesday, August 6th. The industrial products company reported $1.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.51 by $0.01. The business had revenue of $4.55 billion for the quarter, compared to analyst estimates of $4.60 billion. Emerson Electric had a net margin of 14.92% and a return on equity of 14.34%. The firm’s revenue for the quarter was up 3.9% on a year-over-year basis. During the same quarter last year, the business posted $1.43 EPS. As a group, equities analysts predict that Emerson Electric Co. will post 5.96 EPS for the current year.

Emerson Electric Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Friday, August 15th were given a dividend of $0.5275 per share. The ex-dividend date of this dividend was Friday, August 15th. This represents a $2.11 annualized dividend and a dividend yield of 1.6%. Emerson Electric’s dividend payout ratio (DPR) is currently 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.