Mackenzie Financial Corp Sells 2,610 Shares of Emerson Electric Co. $EMR

Mackenzie Financial Corp cut its holdings in Emerson Electric Co. (NYSE:EMR) by 0.3% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 796,138 shares of the industrial products company’s stock after selling 2,610 shares during the quarter. Mackenzie Financial Corp owned 0.14% of Emerson Electric worth $106,149,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the stock. Saudi Central Bank bought a new position in Emerson Electric during the first quarter worth $25,000. Winnow Wealth LLC acquired a new position in shares of Emerson Electric during the second quarter valued at about $34,000. PFS Partners LLC boosted its position in shares of Emerson Electric by 65.9% during the 2nd quarter. PFS Partners LLC now owns 272 shares of the industrial products company’s stock worth $36,000 after purchasing an additional 108 shares in the last quarter. Traub Capital Management LLC acquired a new stake in shares of Emerson Electric in the 2nd quarter valued at about $37,000. Finally, Princeton Global Asset Management LLC bought a new stake in Emerson Electric in the 2nd quarter valued at about $38,000. Institutional investors own 74.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Wells Fargo & Company reiterated an “equal weight” rating and issued a $140.00 price target (down previously from $150.00) on shares of Emerson Electric in a report on Monday, October 6th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Emerson Electric in a research report on Wednesday, October 8th. Royal Bank Of Canada reduced their price target on shares of Emerson Electric from $155.00 to $153.00 and set an “outperform” rating for the company in a research report on Thursday, November 6th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Emerson Electric from $157.00 to $159.00 and gave the stock a “buy” rating in a report on Thursday, October 2nd. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Emerson Electric from $151.00 to $150.00 and set a “neutral” rating for the company in a report on Monday, November 10th. Two analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $148.13.

Emerson Electric Price Performance

EMR opened at $134.03 on Friday. Emerson Electric Co. has a 1 year low of $90.06 and a 1 year high of $150.27. 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 market capitalization of $75.30 billion, a price-to-earnings ratio of 28.82, a P/E/G ratio of 2.36 and a beta of 1.30. The firm’s fifty day moving average price is $131.35 and its two-hundred day moving average price is $131.91.

Emerson Electric (NYSE:EMR) last announced its earnings results on Thursday, April 6th. The industrial products company reported $0.79 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 during the quarter. As a group, analysts anticipate that Emerson Electric Co. will post 5.96 earnings per share for the current fiscal year.

Emerson Electric Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 10th. Stockholders of record on Friday, November 14th will be paid a $0.555 dividend. This represents a $2.22 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date is Friday, November 14th. This is a boost from Emerson Electric’s previous quarterly dividend of $0.53. Emerson Electric’s dividend payout ratio (DPR) is presently 54.95%.

Emerson Electric announced that its Board of Directors has approved a share buyback plan on Wednesday, November 5th that allows the company to buyback $0.00 in shares. This buyback authorization allows the industrial products company to repurchase shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its stock is undervalued.

About Emerson Electric

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.