Sound Income Strategies LLC Buys 888 Shares of Emerson Electric Co. (NYSE:EMR)

Sound Income Strategies LLC increased its position in Emerson Electric Co. (NYSE:EMR) by 70.1% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,155 shares of the industrial products company’s stock after purchasing an additional 888 shares during the quarter. Sound Income Strategies LLC’s holdings in Emerson Electric were worth $236,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in EMR. Newport Trust Company LLC purchased a new position in shares of Emerson Electric during the second quarter valued at approximately $574,908,000. Wellington Management Group LLP raised its holdings in Emerson Electric by 12.5% in the fourth quarter. Wellington Management Group LLP now owns 13,435,524 shares of the industrial products company’s stock worth $1,307,680,000 after buying an additional 1,488,948 shares during the last quarter. Perpetual Ltd raised its holdings in Emerson Electric by 57,336.1% in the 3rd quarter. Perpetual Ltd now owns 1,206,158 shares of the industrial products company’s stock worth $131,918,000 after acquiring an additional 1,204,058 shares during the last quarter. Swedbank AB bought a new stake in shares of Emerson Electric in the 1st quarter worth $129,670,000. Finally, Clean Energy Transition LLP increased its holdings in 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 worth $213,817,000 after buying an additional 990,615 shares in the last quarter. 74.30% of the stock is owned by hedge funds and other institutional investors.

Emerson Electric Price Performance

EMR opened at $112.06 on Monday. The company has a current ratio of 1.16, a quick ratio of 0.86 and a debt-to-equity ratio of 0.27. The business’s fifty day simple moving average is $105.03 and its 200-day simple moving average is $109.24. The company has a market capitalization of $64.11 billion, a price-to-earnings ratio of 6.00, a PEG ratio of 1.70 and a beta of 1.30. Emerson Electric Co. has a 12-month low of $83.10 and a 12-month high of $119.53.

Emerson Electric (NYSE:EMR) last posted its quarterly earnings results on Wednesday, August 7th. The industrial products company reported $1.43 EPS for the quarter, beating the consensus estimate of $1.42 by $0.01. The business had revenue of $4.38 billion during 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 company’s quarterly revenue was up 11.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.29 EPS. On average, equities research analysts anticipate that Emerson Electric Co. will post 5.48 earnings per share for the current fiscal year.

Emerson Electric Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Friday, August 16th were given a $0.525 dividend. This represents a $2.10 annualized dividend and a dividend yield of 1.87%. The ex-dividend date was Friday, August 16th. Emerson Electric’s payout ratio is currently 11.24%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Royal Bank of Canada dropped their target price on shares of Emerson Electric from $140.00 to $139.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. Oppenheimer boosted their target price on shares of Emerson Electric from $120.00 to $125.00 and gave the company an “outperform” rating in a research report on Thursday, September 26th. Robert W. Baird upped their price objective on Emerson Electric from $116.00 to $117.00 and gave the stock a “neutral” rating in a research note on Thursday, August 8th. Redburn Atlantic started coverage on Emerson Electric in a report on Monday, July 8th. They set a “buy” rating and a $135.00 price target for the company. Finally, StockNews.com downgraded Emerson Electric from a “buy” rating to a “hold” rating in a research note on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $124.59.

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.