Empirical Financial Services LLC d.b.a. Empirical Wealth Management Sells 1,719 Shares of Emerson Electric Co. $EMR

Empirical Financial Services LLC d.b.a. Empirical Wealth Management decreased its position in shares of Emerson Electric Co. (NYSE:EMR) by 2.2% during the 2nd quarter, Holdings Channel reports. The fund owned 75,616 shares of the industrial products company’s stock after selling 1,719 shares during the quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management’s holdings in Emerson Electric were worth $10,082,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Mattern Capital Management LLC lifted its stake in Emerson Electric by 0.7% in the second quarter. Mattern Capital Management LLC now owns 79,821 shares of the industrial products company’s stock valued at $10,643,000 after buying an additional 533 shares in the last quarter. Hilltop National Bank bought a new position in Emerson Electric in the second quarter valued at approximately $64,000. Hardman Johnston Global Advisors LLC bought a new position in Emerson Electric in the second quarter valued at approximately $240,000. Mirae Asset Global Investments Co. Ltd. lifted its stake in Emerson Electric by 11.9% in the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 71,228 shares of the industrial products company’s stock valued at $9,497,000 after buying an additional 7,564 shares in the last quarter. Finally, Mechanics Financial Corp lifted its stake in Emerson Electric by 1.1% in the second quarter. Mechanics Financial Corp now owns 8,362 shares of the industrial products company’s stock valued at $1,115,000 after buying an additional 95 shares in the last quarter. Institutional investors own 74.30% of the company’s stock.

Emerson Electric Trading Up 1.3%

EMR stock opened at $132.90 on Friday. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.85 and a quick ratio of 0.63. The company has a fifty day moving average price of $134.43 and a two-hundred day moving average price of $124.39. Emerson Electric Co. has a one year low of $90.06 and a one year high of $150.27. The stock has a market cap of $74.79 billion, a price-to-earnings ratio of 28.58, a price-to-earnings-growth ratio of 2.31 and a beta of 1.29.

Emerson Electric (NYSE:EMR) last released its quarterly earnings data on Wednesday, August 6th. The industrial products company reported $1.52 EPS for the quarter, topping analysts’ consensus estimates of $1.51 by $0.01. Emerson Electric had a net margin of 14.92% and a return on equity of 14.34%. The firm had revenue of $4.55 billion during the quarter, compared to analysts’ expectations of $4.60 billion. During the same period in the previous year, the business posted $1.43 earnings per share. The company’s revenue for the quarter was up 3.9% compared to the same quarter last year. Equities analysts anticipate that Emerson Electric Co. will post 5.96 EPS for the current year.

Emerson Electric Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Friday, August 15th were given a dividend of $0.5275 per share. This represents a $2.11 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date of this dividend was Friday, August 15th. Emerson Electric’s payout ratio is 45.38%.

Wall Street Analyst Weigh In

EMR has been the topic of a number of research reports. Wells Fargo & Company lifted their price target on shares of Emerson Electric from $135.00 to $150.00 and gave the company an “overweight” rating in a research note on Tuesday, July 1st. Stephens lifted their price objective on shares of Emerson Electric from $130.00 to $145.00 and gave the company an “equal weight” rating in a report on Wednesday, July 16th. KeyCorp lifted their price objective on shares of Emerson Electric from $150.00 to $155.00 and gave the company an “overweight” rating in a report on Tuesday, July 1st. Daiwa Capital Markets boosted their target price on shares of Emerson Electric from $150.00 to $153.00 and gave the stock an “outperform” rating in a report on Wednesday, September 24th. Finally, Citigroup boosted 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. Two equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Emerson Electric presently has a consensus rating of “Moderate Buy” and a consensus target price of $144.88.

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.