Corebridge Financial Inc. Lowers Holdings in Emerson Electric Co. (NYSE:EMR)

Corebridge Financial Inc. reduced its position in shares of Emerson Electric Co. (NYSE:EMR) by 0.3% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 143,964 shares of the industrial products company’s stock after selling 425 shares during the quarter. Corebridge Financial Inc.’s holdings in Emerson Electric were worth $17,841,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Howard Capital Management Group LLC grew its holdings in Emerson Electric by 10.6% during the 3rd quarter. Howard Capital Management Group LLC now owns 1,878 shares of the industrial products company’s stock worth $205,000 after acquiring an additional 180 shares in the last quarter. Quest Partners LLC boosted its stake in shares of Emerson Electric by 664.7% during the third quarter. Quest Partners LLC now owns 3,357 shares of the industrial products company’s stock valued at $367,000 after purchasing an additional 2,918 shares in the last quarter. Great Valley Advisor Group Inc. increased its holdings in Emerson Electric by 20.3% during the third quarter. Great Valley Advisor Group Inc. now owns 22,657 shares of the industrial products company’s stock valued at $2,478,000 after buying an additional 3,823 shares during the period. Pitcairn Co. raised its stake in Emerson Electric by 7.1% in the third quarter. Pitcairn Co. now owns 8,417 shares of the industrial products company’s stock worth $921,000 after buying an additional 560 shares in the last quarter. Finally, Larson Financial Group LLC boosted its position in Emerson Electric by 130.0% during the 3rd quarter. Larson Financial Group LLC now owns 9,541 shares of the industrial products company’s stock valued at $1,044,000 after acquiring an additional 5,393 shares in the last quarter. 74.30% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on EMR shares. Barclays lowered Emerson Electric from an “equal weight” rating to an “underweight” rating and reduced their price target for the stock from $135.00 to $110.00 in a research report on Monday, March 10th. KeyCorp raised their price target on shares of Emerson Electric from $140.00 to $158.00 and gave the company an “overweight” rating in a report on Monday, December 9th. Royal Bank of Canada reiterated an “outperform” rating and set a $138.00 price objective on shares of Emerson Electric in a research note on Thursday, February 6th. Daiwa Capital Markets started coverage on shares of Emerson Electric in a research note on Tuesday, January 28th. They issued an “outperform” rating and a $147.00 target price for the company. Finally, StockNews.com downgraded Emerson Electric from a “buy” rating to a “hold” rating in a research report on Monday, March 10th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $136.22.

Emerson Electric Trading Up 2.1 %

Shares of NYSE:EMR opened at $115.44 on Tuesday. The company has a market capitalization of $65.09 billion, a PE ratio of 27.55, a PEG ratio of 2.49 and a beta of 1.36. Emerson Electric Co. has a 12-month low of $96.62 and a 12-month high of $134.85. The business has a 50 day moving average of $121.53 and a two-hundred day moving average of $119.38. The company has a current ratio of 1.54, a quick ratio of 1.17 and a debt-to-equity ratio of 0.25.

Emerson Electric (NYSE:EMR) last released its quarterly earnings results on Wednesday, February 5th. The industrial products company reported $1.38 EPS for the quarter, beating the consensus estimate of $1.28 by $0.10. Emerson Electric had a net margin of 13.74% and a return on equity of 12.08%. As a group, analysts forecast that Emerson Electric Co. will post 5.96 EPS for the current year.

Emerson Electric Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Friday, February 14th were given a dividend of $0.5275 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $2.11 dividend on an annualized basis and a yield of 1.83%. Emerson Electric’s dividend payout ratio is currently 50.36%.

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.