Emerson Electric Co. (NYSE:EMR) Position Reduced by Hohimer Wealth Management LLC

Hohimer Wealth Management LLC decreased its holdings in Emerson Electric Co. (NYSE:EMR) by 7.2% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 27,618 shares of the industrial products company’s stock after selling 2,154 shares during the quarter. Hohimer Wealth Management LLC’s holdings in Emerson Electric were worth $3,042,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in EMR. Norges Bank acquired a new position in Emerson Electric in the fourth quarter worth approximately $764,604,000. First Trust Advisors LP grew its position in Emerson Electric by 219.2% in the fourth quarter. First Trust Advisors LP now owns 2,601,619 shares of the industrial products company’s stock worth $253,216,000 after buying an additional 1,786,583 shares during the last quarter. Wellington Management Group LLP grew its position in Emerson Electric by 12.5% in the fourth quarter. Wellington Management Group LLP now owns 13,435,524 shares of the industrial products company’s stock worth $1,307,680,000 after buying an additional 1,488,948 shares during the last quarter. Swedbank AB acquired a new position in Emerson Electric in the first quarter worth approximately $129,670,000. Finally, Clean Energy Transition LLP grew its position in Emerson Electric by 110.7% in the first quarter. Clean Energy Transition LLP now owns 1,885,183 shares of the industrial products company’s stock worth $213,817,000 after buying an additional 990,615 shares during the last quarter. Institutional investors and hedge funds own 74.30% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on EMR shares. Robert W. Baird lifted their price objective on shares of Emerson Electric from $116.00 to $117.00 and gave the stock a “neutral” rating in a research report on Thursday, August 8th. Deutsche Bank Aktiengesellschaft upgraded shares of Emerson Electric from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $123.00 to $138.00 in a research report on Thursday, May 9th. Loop Capital lifted their price objective on shares of Emerson Electric from $130.00 to $135.00 and gave the stock a “buy” rating in a research report on Friday, May 10th. Royal Bank of Canada lowered their price objective on shares of Emerson Electric from $140.00 to $139.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. Finally, StockNews.com cut shares of Emerson Electric from a “buy” rating to a “hold” rating in a research report on Thursday, July 25th. Five research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $125.18.

Emerson Electric Stock Down 1.8 %

Shares of EMR stock traded down $1.84 on Thursday, hitting $99.02. The company’s stock had a trading volume of 807,385 shares, compared to its average volume of 2,678,547. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.16 and a quick ratio of 0.86. Emerson Electric Co. has a fifty-two week low of $83.10 and a fifty-two week high of $119.53. The firm’s fifty day moving average price is $109.10 and its 200-day moving average price is $109.85. The stock has a market capitalization of $56.65 billion, a price-to-earnings ratio of 5.40, a P/E/G ratio of 1.75 and a beta of 1.32.

Emerson Electric (NYSE:EMR) last released its quarterly earnings data on Wednesday, August 7th. The industrial products company reported $1.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.42 by $0.01. Emerson Electric had a net margin of 10.12% and a return on equity of 11.41%. The business had revenue of $4.38 billion during the quarter, compared to analyst estimates of $4.44 billion. During the same quarter in the previous year, the business earned $1.29 EPS. Emerson Electric’s quarterly revenue was up 11.0% compared to the same quarter last year. Research analysts anticipate that Emerson Electric Co. will post 5.48 EPS for the current year.

Emerson Electric Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Friday, August 16th will be given a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a yield of 2.12%. The ex-dividend date of this dividend is Friday, August 16th. Emerson Electric’s dividend payout ratio is 11.24%.

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.