Whitaker Myers Wealth Managers LTD. Makes New $242,000 Investment in Emerson Electric Co. (NYSE:EMR)

Whitaker Myers Wealth Managers LTD. purchased a new stake in shares of Emerson Electric Co. (NYSE:EMR) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 2,213 shares of the industrial products company’s stock, valued at approximately $242,000.

A number of other hedge funds have also bought and sold shares of the business. Newport Trust Company LLC purchased a new stake in shares of Emerson Electric during the 2nd quarter valued at $574,908,000. Legal & General Group Plc increased its holdings in Emerson Electric by 5.2% during the second quarter. Legal & General Group Plc now owns 4,510,496 shares of the industrial products company’s stock worth $496,877,000 after buying an additional 224,784 shares during the last quarter. Swedbank AB boosted its stake in Emerson Electric by 127.3% in the third quarter. Swedbank AB now owns 2,544,439 shares of the industrial products company’s stock valued at $278,285,000 after acquiring an additional 1,424,800 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of Emerson Electric by 17.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,358,796 shares of the industrial products company’s stock valued at $259,809,000 after acquiring an additional 355,106 shares during the period. Finally, Van ECK Associates Corp increased its stake in shares of Emerson Electric by 6.8% during the 1st quarter. Van ECK Associates Corp now owns 2,106,958 shares of the industrial products company’s stock worth $238,971,000 after purchasing an additional 134,865 shares during the last quarter. 74.30% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on EMR shares. Redburn Atlantic assumed coverage on Emerson Electric in a report on Monday, July 8th. They set a “buy” rating and a $135.00 price objective for the company. Robert W. Baird lifted their price objective on Emerson Electric from $116.00 to $117.00 and gave the stock a “neutral” rating in a report on Thursday, August 8th. Royal Bank of Canada dropped their price objective on shares of Emerson Electric from $140.00 to $139.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. Barclays lowered their price target on shares of Emerson Electric from $110.00 to $103.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 8th. Finally, Oppenheimer raised their price objective on shares of Emerson Electric from $120.00 to $125.00 and gave the stock an “outperform” rating in a report on Thursday, September 26th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $125.47.

Emerson Electric Stock Performance

Shares of EMR opened at $110.44 on Friday. The company has a current ratio of 1.16, a quick ratio of 0.86 and a debt-to-equity ratio of 0.27. The stock has a 50-day moving average price of $105.66 and a 200-day moving average price of $109.18. The company has a market cap of $63.18 billion, a PE ratio of 5.91, a price-to-earnings-growth ratio of 1.70 and a beta of 1.30. Emerson Electric Co. has a 12-month low of $83.10 and a 12-month high of $119.53.

Emerson Electric (NYSE:EMR) last released its quarterly earnings results on Wednesday, August 7th. The industrial products company reported $1.43 EPS for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $4.44 billion. During the same quarter in the previous year, the company earned $1.29 EPS. The business’s quarterly revenue was up 11.0% compared to the same quarter last year. As a group, equities analysts forecast that Emerson Electric Co. will post 5.48 earnings per share for the current fiscal year.

Emerson Electric Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Friday, August 16th were given a dividend of $0.525 per share. The ex-dividend date was Friday, August 16th. This represents a $2.10 annualized dividend and a dividend yield of 1.90%. Emerson Electric’s dividend payout ratio (DPR) is presently 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.