Wedge Capital Management L L P NC Lowers Stake in Emerson Electric Co. (NYSE:EMR)

Wedge Capital Management L L P NC reduced its position in shares of Emerson Electric Co. (NYSE:EMR) by 1.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 116,708 shares of the industrial products company’s stock after selling 1,927 shares during the quarter. Wedge Capital Management L L P NC’s holdings in Emerson Electric were worth $12,764,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the company. Newport Trust Company LLC purchased a new stake in shares of Emerson Electric during the 2nd quarter worth about $574,908,000. Legal & General Group Plc boosted its stake in shares of Emerson Electric by 5.2% during the 2nd quarter. Legal & General Group Plc now owns 4,510,496 shares of the industrial products company’s stock worth $496,877,000 after acquiring an additional 224,784 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Emerson Electric by 17.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,358,796 shares of the industrial products company’s stock worth $259,809,000 after acquiring an additional 355,106 shares in the last quarter. Van ECK Associates Corp boosted its stake in shares of Emerson Electric by 6.8% during the 1st quarter. Van ECK Associates Corp now owns 2,106,958 shares of the industrial products company’s stock worth $238,971,000 after acquiring an additional 134,865 shares in the last quarter. Finally, King Luther Capital Management Corp boosted its stake in shares of Emerson Electric by 0.8% during the 2nd quarter. King Luther Capital Management Corp now owns 1,972,751 shares of the industrial products company’s stock worth $217,318,000 after acquiring an additional 15,330 shares in the last quarter. 74.30% of the stock is owned by hedge funds and other institutional investors.

Emerson Electric Stock Performance

Emerson Electric stock opened at $112.64 on Tuesday. The firm has a 50 day simple moving average of $105.15 and a 200-day simple moving average of $109.24. Emerson Electric Co. has a 1-year low of $83.10 and a 1-year high of $119.53. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.16 and a quick ratio of 0.86. The stock has a market cap of $64.44 billion, a price-to-earnings ratio of 6.03, a price-to-earnings-growth ratio of 1.70 and a beta of 1.30.

Emerson Electric (NYSE:EMR) last posted its quarterly earnings results on Wednesday, August 7th. The industrial products company reported $1.43 earnings per share for the quarter, beating the consensus estimate of $1.42 by $0.01. Emerson Electric had a net margin of 10.12% and a return on equity of 11.41%. The business had revenue of $4.38 billion during the quarter, compared to analysts’ expectations of $4.44 billion. During the same quarter in the prior year, the company posted $1.29 EPS. The business’s revenue for the quarter was up 11.0% on a year-over-year basis. On average, analysts expect that Emerson Electric Co. will post 5.48 EPS for the current 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 dividend of $0.525 per share. The ex-dividend date was Friday, August 16th. This represents a $2.10 dividend on an annualized basis and a dividend yield of 1.86%. Emerson Electric’s payout ratio is currently 11.24%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on EMR. 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. Redburn Atlantic began coverage on shares of Emerson Electric in a research report on Monday, July 8th. They set a “buy” rating and a $135.00 price target for the company. Royal Bank of Canada reduced their price target on shares of Emerson Electric from $140.00 to $139.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. JPMorgan Chase & Co. downgraded shares of Emerson Electric from an “overweight” rating to a “neutral” rating and reduced their price target for the stock from $132.00 to $115.00 in a research report on Wednesday, August 14th. Finally, Oppenheimer upped their price target on shares of Emerson Electric from $120.00 to $125.00 and gave the stock an “outperform” rating in a research report on Thursday, September 26th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, Emerson Electric currently has a consensus rating of “Moderate Buy” and an average price target of $124.59.

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.