Advocate Group LLC Grows Stake in Emerson Electric Co. $EMR

Advocate Group LLC increased its stake in Emerson Electric Co. (NYSE:EMR) by 3.6% in the 2nd quarter, HoldingsChannel reports. The fund owned 79,237 shares of the industrial products company’s stock after acquiring an additional 2,770 shares during the period. Emerson Electric accounts for approximately 1.9% of Advocate Group LLC’s holdings, making the stock its 12th largest holding. Advocate Group LLC’s holdings in Emerson Electric were worth $10,565,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Wellington Management Group LLP grew its position 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 worth $1,675,403,000 after acquiring an additional 980,652 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of Emerson Electric by 9.3% during the first quarter. JPMorgan Chase & Co. now owns 7,166,817 shares of the industrial products company’s stock valued at $785,770,000 after buying an additional 611,105 shares during the period. Nuveen LLC purchased a new position in shares of Emerson Electric during the first quarter valued at approximately $737,318,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Emerson Electric by 5.8% during 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 valued at $448,053,000 after buying an additional 223,831 shares during the period. Finally, Goldman Sachs Group Inc. boosted its position in shares of Emerson Electric by 18.0% during the first quarter. Goldman Sachs Group Inc. now owns 3,793,436 shares of the industrial products company’s stock valued at $415,912,000 after buying an additional 579,653 shares during the period. Hedge funds and other institutional investors own 74.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on EMR. Barclays upgraded Emerson Electric from an “underweight” rating to an “equal weight” rating and boosted their target price for the company from $125.00 to $127.00 in a research report on Thursday, August 7th. Weiss Ratings restated a “buy (b-)” rating on shares of Emerson Electric in a research report on Wednesday. KeyCorp boosted their target price on Emerson Electric from $150.00 to $155.00 and gave the company an “overweight” rating in a research report on Tuesday, July 1st. Daiwa Capital Markets lifted their price target on shares of Emerson Electric from $150.00 to $153.00 and gave the company an “outperform” rating in a research note on Wednesday, September 24th. Finally, Citigroup lifted their price target on shares of Emerson Electric from $146.00 to $165.00 and gave the company a “buy” rating in a research note on Monday, July 14th. Two analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Emerson Electric currently has a consensus rating of “Moderate Buy” and a consensus target price of $144.29.

Emerson Electric Stock Performance

Shares of NYSE:EMR opened at $125.99 on Friday. The company has a market capitalization of $70.91 billion, a price-to-earnings ratio of 27.09, a price-to-earnings-growth ratio of 2.19 and a beta of 1.29. Emerson Electric Co. has a 52 week low of $90.06 and a 52 week 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 firm has a 50 day moving average of $132.66 and a 200 day moving average of $125.25.

Emerson Electric (NYSE:EMR) last issued its quarterly earnings data on Thursday, April 6th. The industrial products company reported $0.79 EPS for the quarter. The company had revenue of $3.16 billion during the quarter. Emerson Electric had a net margin of 14.92% and a return on equity of 14.34%. On average, sell-side analysts predict that Emerson Electric Co. will post 5.96 earnings per share for the current fiscal year.

Emerson Electric Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Friday, August 15th were given a dividend of $0.5275 per share. The ex-dividend date of this dividend was Friday, August 15th. This represents a $2.11 dividend on an annualized basis and a dividend yield of 1.7%. Emerson Electric’s dividend payout ratio is presently 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.