Legacy Financial Group LLC Cuts Stake in Emerson Electric Co. $EMR

Legacy Financial Group LLC decreased its stake in Emerson Electric Co. (NYSE:EMR) by 2.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,421 shares of the industrial products company’s stock after selling 100 shares during the period. Legacy Financial Group LLC’s holdings in Emerson Electric were worth $456,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. First Horizon Advisors Inc. raised its stake in shares of Emerson Electric by 2.7% during 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. North Capital Inc. purchased a new stake in Emerson Electric during the 1st quarter worth $211,000. Davis Investment Partners LLC acquired a new position in Emerson Electric in the 2nd quarter worth $692,000. Golden State Equity Partners purchased a new position in Emerson Electric in the 1st quarter valued at about $459,000. Finally, Truist Financial Corp grew its stake 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 acquiring an additional 18,069 shares in the last quarter. 74.30% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently commented on EMR. Bank of America boosted their price target on 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 Emerson Electric from an “underweight” rating to an “equal weight” rating and increased their target price for the company from $125.00 to $127.00 in a research note on Thursday, August 7th. Wells Fargo & Company lifted their price target on shares of Emerson Electric from $135.00 to $150.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 1st. Citigroup upped their price target on shares of Emerson Electric from $146.00 to $165.00 and gave the company a “buy” rating in a report on Monday, July 14th. Finally, Stephens boosted their target price on shares of Emerson Electric from $130.00 to $145.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 16th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $142.39.

Emerson Electric Price Performance

EMR opened at $131.56 on Wednesday. The company has a quick ratio of 0.63, a current ratio of 0.85 and a debt-to-equity ratio of 0.42. The company’s 50-day moving average price is $136.33 and its 200 day moving average price is $123.54. Emerson Electric Co. has a fifty-two week low of $90.06 and a fifty-two week high of $150.27. The firm has a market cap of $74.04 billion, a price-to-earnings ratio of 28.29, a price-to-earnings-growth ratio of 2.52 and a beta of 1.30.

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

Emerson Electric Dividend Announcement

The company also recently declared 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 was Friday, August 15th. This represents a $2.11 annualized dividend and a dividend yield of 1.6%. Emerson Electric’s dividend payout ratio 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.