DAVENPORT & Co LLC Has $14.37 Million Position in Emerson Electric Co. $EMR

DAVENPORT & Co LLC lessened its holdings in shares of Emerson Electric Co. (NYSE:EMR) by 1.6% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 107,797 shares of the industrial products company’s stock after selling 1,774 shares during the period. DAVENPORT & Co LLC’s holdings in Emerson Electric were worth $14,370,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in EMR. Saudi Central Bank acquired a new stake in Emerson Electric in the 1st quarter valued at about $25,000. MJT & Associates Financial Advisory Group Inc. bought a new stake in shares of Emerson Electric during the first quarter valued at approximately $27,000. Inlight Wealth Management LLC acquired a new stake in shares of Emerson Electric in the first quarter valued at approximately $28,000. Fourth Dimension Wealth LLC raised its position in Emerson Electric by 145.3% in the 1st quarter. Fourth Dimension Wealth LLC now owns 260 shares of the industrial products company’s stock worth $29,000 after purchasing an additional 154 shares during the last quarter. Finally, Garde Capital Inc. bought a new position in Emerson Electric in the 1st quarter valued at $36,000. Institutional investors and hedge funds own 74.30% of the company’s stock.

Emerson Electric Price Performance

Shares of EMR stock opened at $134.82 on Tuesday. The firm has a fifty day moving average of $133.84 and a 200-day moving average of $124.88. 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 firm has a market capitalization of $75.88 billion, a price-to-earnings ratio of 28.99, a price-to-earnings-growth ratio of 2.34 and a beta of 1.29. Emerson Electric Co. has a 12-month low of $90.06 and a 12-month high of $150.27.

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

Emerson Electric Announces Dividend

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

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on EMR shares. Citigroup boosted their target price on Emerson Electric from $146.00 to $165.00 and gave the stock a “buy” rating in a research report on Monday, July 14th. KeyCorp boosted their price objective on Emerson Electric from $150.00 to $155.00 and gave the stock an “overweight” rating in a report on Tuesday, July 1st. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Emerson Electric in a research note on Saturday, September 27th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Emerson Electric from $157.00 to $159.00 and gave the stock a “buy” rating in a research note on Thursday, October 2nd. Finally, Bank of America increased their price objective on shares of Emerson Electric from $130.00 to $155.00 and gave the company a “buy” rating in a report on Wednesday, July 2nd. Two investment analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $144.29.

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.