Veracity Capital LLC Sells 1,524 Shares of Emerson Electric Co. (NYSE:EMR)

Veracity Capital LLC decreased its holdings in shares of Emerson Electric Co. (NYSE:EMR) by 20.9% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 5,758 shares of the industrial products company’s stock after selling 1,524 shares during the quarter. Veracity Capital LLC’s holdings in Emerson Electric were worth $653,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the business. American National Bank & Trust Co. VA bought a new position in shares of Emerson Electric during the first quarter valued at approximately $1,011,000. FCG Investment Co grew its stake in shares of Emerson Electric by 93.8% during the first quarter. FCG Investment Co now owns 7,460 shares of the industrial products company’s stock valued at $846,000 after buying an additional 3,610 shares during the last quarter. First Trust Direct Indexing L.P. grew its stake in Emerson Electric by 17.9% in the first quarter. First Trust Direct Indexing L.P. now owns 17,000 shares of the industrial products company’s stock worth $1,928,000 after purchasing an additional 2,577 shares in the last quarter. Cornerstone Wealth Management LLC grew its stake in Emerson Electric by 2.6% in the first quarter. Cornerstone Wealth Management LLC now owns 46,516 shares of the industrial products company’s stock worth $5,276,000 after purchasing an additional 1,198 shares in the last quarter. Finally, Massachusetts Wealth Management grew its stake in Emerson Electric by 5.2% in the first quarter. Massachusetts Wealth Management now owns 16,246 shares of the industrial products company’s stock worth $1,843,000 after purchasing an additional 800 shares in the last quarter. Institutional investors own 74.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on EMR shares. UBS Group increased their price objective on Emerson Electric from $95.00 to $120.00 and gave the stock a “neutral” rating in a research note on Thursday, March 21st. Barclays increased their price objective on Emerson Electric from $105.00 to $110.00 and gave the stock an “equal weight” rating in a research note on Friday, May 10th. Robert W. Baird lowered their target price on Emerson Electric from $120.00 to $116.00 and set a “neutral” rating for the company in a report on Thursday, May 9th. Berenberg Bank increased their target price on Emerson Electric from $100.00 to $130.00 and gave the company a “buy” rating in a research report on Wednesday, March 6th. Finally, Wells Fargo & Company increased their target price on Emerson Electric from $133.00 to $137.00 and gave the company an “overweight” rating in a research report on Wednesday, June 26th. Four research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat, Emerson Electric presently has an average rating of “Moderate Buy” and a consensus price target of $122.76.

Emerson Electric Price Performance

Shares of Emerson Electric stock traded up $0.29 on Thursday, hitting $109.56. The company’s stock had a trading volume of 1,074,795 shares, compared to its average volume of 2,281,336. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.87 and a current ratio of 1.18. Emerson Electric Co. has a 1 year low of $83.10 and a 1 year high of $116.76. The firm has a fifty day moving average price of $109.98 and a 200-day moving average price of $105.99. The company has a market capitalization of $62.68 billion, a price-to-earnings ratio of 5.86, a price-to-earnings-growth ratio of 1.86 and a beta of 1.32.

Emerson Electric (NYSE:EMR) last posted its quarterly earnings data on Wednesday, May 8th. The industrial products company reported $1.36 EPS for the quarter, topping the consensus estimate of $1.25 by $0.11. Emerson Electric had a return on equity of 11.14% and a net margin of 64.97%. The company had revenue of $4.38 billion during the quarter, compared to analyst estimates of $4.29 billion. During the same period in the previous year, the business earned $1.09 EPS. Emerson Electric’s quarterly revenue was up 16.5% on a year-over-year basis. As a group, sell-side analysts anticipate that Emerson Electric Co. will post 5.47 earnings per share for the current fiscal year.

Emerson Electric Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 10th. Stockholders of record on Friday, May 17th were issued a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a dividend yield of 1.92%. The ex-dividend date was Thursday, May 16th. Emerson Electric’s dividend payout ratio is currently 11.24%.

Emerson Electric 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.