Emerson Electric Co. $EMR Stock Sold by Fifth Third Bancorp

Fifth Third Bancorp reduced its position in Emerson Electric Co. (NYSE:EMR) by 1.0% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 866,039 shares of the industrial products company’s stock after selling 8,411 shares during the period. Fifth Third Bancorp owned approximately 0.15% of Emerson Electric worth $134,323,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. ABS Investment Management LLC purchased a new position in Emerson Electric in the second quarter worth about $858,900,000. William Mack & Associates Inc. bought a new stake in shares of Emerson Electric during the 3rd quarter valued at about $25,000. Financial Management Professionals Inc. grew its stake in shares of Emerson Electric by 100.0% during the 3rd quarter. Financial Management Professionals Inc. now owns 172 shares of the industrial products company’s stock valued at $27,000 after purchasing an additional 86 shares during the period. Next Level Wealth Planning LLC purchased a new stake in shares of Emerson Electric during the 3rd quarter valued at about $27,000. Finally, Quest 10 Wealth Builders Inc. increased its position in shares of Emerson Electric by 113.3% during the 3rd quarter. Quest 10 Wealth Builders Inc. now owns 192 shares of the industrial products company’s stock valued at $30,000 after purchasing an additional 102 shares during the last quarter. Institutional investors own 74.30% of the company’s stock.

Emerson Electric Stock Down 0.2%

Shares of EMR stock opened at $167.18 on Thursday. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.94 and a quick ratio of 0.70. Emerson Electric Co. has a one year low of $122.64 and a one year high of $172.00. The company’s fifty day moving average price is $158.89 and its 200-day moving average price is $147.90. The company has a market capitalization of $91.72 billion, a price-to-earnings ratio of 34.98, a PEG ratio of 2.35 and a beta of 1.23.

Emerson Electric (NYSE:EMR) last issued its quarterly earnings results on Wednesday, November 4th. The industrial products company reported $1.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.85 by $0.01. The business had revenue of $5.20 billion during the quarter, compared to analyst estimates of $5.11 billion. Emerson Electric had a return on equity of 18.08% and a net margin of 14.15%. Emerson Electric’s revenue for the quarter was up .0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.62 EPS. Sell-side analysts expect that Emerson Electric Co. will post 7.37 EPS for the current fiscal year.

Emerson Electric Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 10th. Investors of record on Friday, November 13th will be given a dividend of $0.5950 per share. This is an increase from Emerson Electric’s previous quarterly dividend of $0.5550. This represents a $2.38 annualized dividend and a dividend yield of 1.4%. The ex-dividend date is Friday, November 13th. Emerson Electric’s dividend payout ratio (DPR) is 46.44%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on EMR. Morgan Stanley lowered their price objective on shares of Emerson Electric from $145.00 to $140.00 and set an “underweight” rating on the stock in a research note on Tuesday, November 3rd. Weiss Ratings upgraded shares of Emerson Electric from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, October 8th. Wall Street Zen cut shares of Emerson Electric from a “buy” rating to a “hold” rating in a report on Saturday, November 7th. Wells Fargo & Company increased their price target on shares of Emerson Electric from $177.00 to $180.00 and gave the stock an “overweight” rating in a research report on Thursday, November 5th. Finally, JPMorgan Chase & Co. increased their price target on shares of Emerson Electric from $169.00 to $184.00 and gave the stock an “overweight” rating in a research report on Friday, October 9th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Emerson Electric currently has an average rating of “Moderate Buy” and an average price target of $175.38.

About Emerson Electric

Emerson Electric Co. is a global technology and engineering company focused on automation. It develops products and systems that help industrial and commercial customers monitor and control operations, including measurement instruments, control systems, valves, actuators, and industrial software. The company serves customers across industries and regions worldwide. Its portfolio includes technologies for process and factory automation, as well as software used to design, operate, and optimize industrial facilities.