Carret Asset Management LLC Has $3.41 Million Position in Emerson Electric Co. $EMR

Carret Asset Management LLC lowered its stake in shares of Emerson Electric Co. (NYSE:EMR) by 0.5% in the second quarter, HoldingsChannel reports. The institutional investor owned 25,591 shares of the industrial products company’s stock after selling 124 shares during the period. Carret Asset Management LLC’s holdings in Emerson Electric were worth $3,412,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of EMR. Nuveen LLC bought a new position in shares of Emerson Electric during the 1st quarter valued at $737,318,000. Pacer Advisors Inc. raised its holdings in shares of Emerson Electric by 4,583.7% during the 1st quarter. Pacer Advisors Inc. now owns 2,185,049 shares of the industrial products company’s stock valued at $239,569,000 after purchasing an additional 2,138,397 shares in the last quarter. Alliancebernstein L.P. raised its holdings in shares of Emerson Electric by 218.7% during the 1st quarter. Alliancebernstein L.P. now owns 2,468,732 shares of the industrial products company’s stock valued at $270,672,000 after purchasing an additional 1,693,999 shares in the last quarter. Nordea Investment Management AB raised its holdings 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 purchasing an additional 1,499,000 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA raised its holdings in shares of Emerson Electric by 210.8% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 1,966,453 shares of the industrial products company’s stock valued at $215,602,000 after purchasing an additional 1,333,839 shares in the last quarter. Institutional investors own 74.30% of the company’s stock.

Emerson Electric Stock Performance

NYSE:EMR opened at $136.32 on Thursday. The firm’s 50-day moving average is $132.00 and its 200-day moving average is $128.00. Emerson Electric Co. has a 52-week low of $90.06 and a 52-week high of $150.27. 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 company has a market cap of $76.72 billion, a price-to-earnings ratio of 29.32, a PEG ratio of 2.33 and a beta of 1.29.

Emerson Electric (NYSE:EMR) last posted its quarterly earnings data on Thursday, April 6th. The industrial products company reported $0.79 earnings per share (EPS) for the quarter. Emerson Electric had a net margin of 14.92% and a return on equity of 14.34%. The company had revenue of $3.16 billion for the quarter. Equities research analysts anticipate that Emerson Electric Co. will post 5.96 earnings per share 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 issued 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 1.5%. Emerson Electric’s payout ratio is presently 45.38%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on EMR. Wolfe Research cut their price target on shares of Emerson Electric from $173.00 to $172.00 and set an “outperform” rating on the stock in a report on Wednesday, October 8th. Citigroup lifted their target price on shares of Emerson Electric from $146.00 to $165.00 and gave the stock a “buy” rating in a report on Monday, July 14th. Barclays upgraded shares of Emerson Electric from an “underweight” rating to an “equal weight” rating and lifted their target price for the stock from $125.00 to $127.00 in a report on Thursday, August 7th. Jefferies Financial Group dropped their target price on shares of Emerson Electric from $160.00 to $155.00 and set a “buy” rating on the stock in a report on Tuesday, October 7th. Finally, TD Cowen upgraded shares of Emerson Electric to a “strong-buy” rating in a report on Tuesday, July 8th. Two analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $148.28.

Emerson Electric Company 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.