Joule Financial LLC Reduces Stock Holdings in Emerson Electric Co. $EMR

Joule Financial LLC cut its holdings in Emerson Electric Co. (NYSE:EMR) by 14.3% in the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 3,908 shares of the industrial products company’s stock after selling 654 shares during the quarter. Joule Financial LLC’s holdings in Emerson Electric were worth $521,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. Nuveen LLC acquired a new stake in Emerson Electric in the 1st quarter worth approximately $737,318,000. Pacer Advisors Inc. lifted its stake in shares of Emerson Electric by 4,583.7% during the first quarter. Pacer Advisors Inc. now owns 2,185,049 shares of the industrial products company’s stock worth $239,569,000 after buying an additional 2,138,397 shares during the period. Alliancebernstein L.P. grew its holdings in shares of Emerson Electric by 218.7% during the first quarter. Alliancebernstein L.P. now owns 2,468,732 shares of the industrial products company’s stock valued at $270,672,000 after buying an additional 1,693,999 shares during the last quarter. Massachusetts Financial Services Co. MA raised its stake in Emerson Electric by 210.8% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 1,966,453 shares of the industrial products company’s stock worth $215,602,000 after acquiring an additional 1,333,839 shares during the last quarter. Finally, Wellington Management Group LLP lifted its position in Emerson Electric by 6.9% during the 1st quarter. Wellington Management Group LLP now owns 15,280,950 shares of the industrial products company’s stock worth $1,675,403,000 after acquiring an additional 980,652 shares during the period. Hedge funds and other institutional investors own 74.30% of the company’s stock.

Emerson Electric Price Performance

Shares of Emerson Electric stock opened at $134.79 on Monday. The firm has a market cap of $75.86 billion, a PE ratio of 28.99, a P/E/G ratio of 2.34 and a beta of 1.29. Emerson Electric Co. has a twelve month low of $90.06 and a twelve month high of $150.27. The company has a quick ratio of 0.63, a current ratio of 0.85 and a debt-to-equity ratio of 0.42. The business has a 50-day moving average price of $134.13 and a 200 day moving average price of $124.73.

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

Emerson Electric Announces Dividend

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

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on EMR shares. Citigroup raised their price objective on Emerson Electric from $146.00 to $165.00 and gave the stock a “buy” rating in a research note on Monday, July 14th. Barclays raised shares of Emerson Electric from an “underweight” rating to an “equal weight” rating and raised their price target for the stock from $125.00 to $127.00 in a research report on Thursday, August 7th. Stephens upped their price objective on shares of Emerson Electric from $130.00 to $145.00 and gave the company an “equal weight” rating in a report on Wednesday, July 16th. Wells Fargo & Company raised their target price on shares of Emerson Electric from $135.00 to $150.00 and gave the stock an “overweight” rating in a report on Tuesday, July 1st. Finally, Deutsche Bank Aktiengesellschaft upped their price target on shares of Emerson Electric from $157.00 to $159.00 and gave the company a “buy” rating in a report on Thursday. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $144.88.

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.