Emerson Electric Co. $EMR Position Reduced by QRG Capital Management Inc.

QRG Capital Management Inc. trimmed its position in shares of Emerson Electric Co. (NYSE:EMR) by 22.6% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 129,492 shares of the industrial products company’s stock after selling 37,844 shares during the period. QRG Capital Management Inc.’s holdings in Emerson Electric were worth $17,265,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Wellington Management Group LLP lifted its stake in Emerson Electric by 6.9% in the first quarter. Wellington Management Group LLP now owns 15,280,950 shares of the industrial products company’s stock valued at $1,675,403,000 after acquiring an additional 980,652 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in Emerson Electric by 9.3% in the first quarter. JPMorgan Chase & Co. now owns 7,166,817 shares of the industrial products company’s stock worth $785,770,000 after purchasing an additional 611,105 shares in the last quarter. Nuveen LLC bought a new position in Emerson Electric during the first quarter valued at about $737,318,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of Emerson Electric by 5.8% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,086,580 shares of the industrial products company’s stock worth $448,053,000 after buying an additional 223,831 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its holdings in shares of Emerson Electric by 18.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 3,793,436 shares of the industrial products company’s stock valued at $415,912,000 after acquiring an additional 579,653 shares during the last quarter. Institutional investors and hedge funds own 74.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. TD Cowen raised Emerson Electric to a “strong-buy” rating in a research report on Tuesday, July 8th. Barclays upgraded shares of Emerson Electric from an “underweight” rating to an “equal weight” rating and raised their target price for the company from $125.00 to $127.00 in a research note on Thursday, August 7th. Daiwa Capital Markets boosted their target price on shares of Emerson Electric from $150.00 to $153.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 24th. KeyCorp lifted their price objective on Emerson Electric from $150.00 to $155.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 1st. Finally, Bank of America increased their target price on Emerson Electric from $130.00 to $155.00 and gave the company a “buy” rating in a research note on Wednesday, July 2nd. Two analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $144.88.

Emerson Electric Trading Up 1.3%

Emerson Electric stock opened at $134.79 on Friday. Emerson Electric Co. has a 12 month low of $90.06 and a 12 month high of $150.27. The stock has a market cap of $75.86 billion, a price-to-earnings ratio of 28.99, a price-to-earnings-growth ratio of 2.37 and a beta of 1.29. The business has a 50 day moving average price of $134.13 and a two-hundred day moving average price of $124.64. The company has a quick ratio of 0.63, a current ratio of 0.85 and a debt-to-equity ratio of 0.42.

Emerson Electric (NYSE:EMR) last issued its earnings results on Wednesday, August 6th. The industrial products company reported $1.52 earnings per share for the quarter, beating the consensus estimate of $1.51 by $0.01. Emerson Electric had a net margin of 14.92% and a return on equity of 14.34%. The business had revenue of $4.55 billion for the quarter, compared to analyst estimates of $4.60 billion. During the same period in the previous year, the business earned $1.43 EPS. The firm’s revenue was up 3.9% on a year-over-year basis. As a group, equities analysts forecast that Emerson Electric Co. will post 5.96 EPS for the current year.

Emerson Electric Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Friday, August 15th were paid a $0.5275 dividend. The ex-dividend date of this dividend was Friday, August 15th. This represents a $2.11 annualized dividend and a yield of 1.6%. Emerson Electric’s payout ratio is currently 45.38%.

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.