Parallel Advisors LLC Has $3.32 Million Position in Emerson Electric Co. (NYSE:EMR)

Parallel Advisors LLC grew its holdings in Emerson Electric Co. (NYSE:EMR) by 2.2% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 30,164 shares of the industrial products company’s stock after buying an additional 648 shares during the quarter. Parallel Advisors LLC’s holdings in Emerson Electric were worth $3,323,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the business. Norges Bank bought a new position in shares of Emerson Electric in the fourth quarter worth about $764,604,000. First Trust Advisors LP increased its holdings in shares of Emerson Electric by 219.2% in the fourth quarter. First Trust Advisors LP now owns 2,601,619 shares of the industrial products company’s stock valued at $253,216,000 after purchasing an additional 1,786,583 shares in the last quarter. Wellington Management Group LLP raised its position in Emerson Electric by 12.5% in the 4th quarter. Wellington Management Group LLP now owns 13,435,524 shares of the industrial products company’s stock worth $1,307,680,000 after purchasing an additional 1,488,948 shares during the last quarter. Swedbank AB bought a new position in Emerson Electric in the 1st quarter valued at $129,670,000. Finally, Clean Energy Transition LLP increased its stake in shares of Emerson Electric by 110.7% in the 1st quarter. Clean Energy Transition LLP now owns 1,885,183 shares of the industrial products company’s stock valued at $213,817,000 after buying an additional 990,615 shares during the period. 74.30% of the stock is owned by institutional investors.

Emerson Electric Price Performance

NYSE EMR opened at $102.03 on Friday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.86 and a current ratio of 1.16. Emerson Electric Co. has a 52-week low of $83.10 and a 52-week high of $119.53. The business has a 50 day simple moving average of $107.81 and a 200 day simple moving average of $109.57. The stock has a market cap of $58.43 billion, a price-to-earnings ratio of 5.46, a PEG ratio of 1.66 and a beta of 1.30.

Emerson Electric (NYSE:EMR) last issued its quarterly earnings data 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. The business had revenue of $4.38 billion for the quarter, compared to analyst estimates of $4.44 billion. Emerson Electric had a net margin of 10.12% and a return on equity of 11.41%. The firm’s quarterly revenue was up 11.0% on a year-over-year basis. During the same period last year, the business posted $1.29 earnings per share. Analysts anticipate that Emerson Electric Co. will post 5.48 earnings per share for the current fiscal year.

Emerson Electric Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Friday, August 16th were issued a dividend of $0.525 per share. The ex-dividend date of this dividend was Friday, August 16th. This represents a $2.10 dividend on an annualized basis and a dividend yield of 2.06%. Emerson Electric’s payout ratio is presently 11.24%.

Analyst Ratings Changes

Several research firms recently issued reports on EMR. StockNews.com cut Emerson Electric from a “buy” rating to a “hold” rating in a report on Thursday, July 25th. Morgan Stanley began coverage on shares of Emerson Electric in a research report on Friday, September 6th. They set an “underweight” rating and a $105.00 price target for the company. Oppenheimer cut their price objective on shares of Emerson Electric from $125.00 to $120.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. Royal Bank of Canada lowered their target price on shares of Emerson Electric from $140.00 to $139.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Finally, Barclays cut their price target on Emerson Electric from $110.00 to $103.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 8th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $124.06.

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.