Wealth Enhancement Advisory Services LLC Trims Holdings in Emerson Electric Co. (NYSE:EMR)

Wealth Enhancement Advisory Services LLC trimmed its position in Emerson Electric Co. (NYSE:EMR) by 25.6% in the 1st quarter, HoldingsChannel reports. The firm owned 296,960 shares of the industrial products company’s stock after selling 102,333 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Emerson Electric were worth $33,681,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently modified their holdings of the company. Tobam grew its holdings in Emerson Electric by 2,275.0% during the fourth quarter. Tobam now owns 285 shares of the industrial products company’s stock worth $28,000 after acquiring an additional 273 shares during the period. Security National Bank acquired a new stake in Emerson Electric in the fourth quarter valued at approximately $29,000. Cape Investment Advisory Inc. grew its holdings in Emerson Electric by 148.0% in the fourth quarter. Cape Investment Advisory Inc. now owns 315 shares of the industrial products company’s stock valued at $31,000 after purchasing an additional 188 shares during the period. Rise Advisors LLC acquired a new stake in Emerson Electric in the first quarter valued at approximately $36,000. Finally, Burkett Financial Services LLC acquired a new stake in Emerson Electric in the fourth quarter valued at approximately $32,000. 74.30% of the stock is currently owned by hedge funds and other institutional investors.

Emerson Electric Trading Up 2.0 %

Shares of Emerson Electric stock traded up $2.17 during trading hours on Thursday, hitting $108.29. The company’s stock had a trading volume of 3,463,665 shares, compared to its average volume of 2,681,750. Emerson Electric Co. has a twelve month low of $83.10 and a twelve month high of $116.76. The firm has a fifty day moving average of $109.99 and a 200-day moving average of $105.43. The stock has a market cap of $61.95 billion, a price-to-earnings ratio of 5.77, a P/E/G ratio of 1.80 and a beta of 1.33. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.87 and a current ratio of 1.18.

Emerson Electric (NYSE:EMR) last announced its quarterly earnings results on Wednesday, May 8th. The industrial products company reported $1.36 EPS for the quarter, beating the consensus estimate of $1.25 by $0.11. Emerson Electric had a return on equity of 11.14% and a net margin of 64.97%. The business had revenue of $4.38 billion for the quarter, compared to analyst estimates of $4.29 billion. During the same quarter in the prior year, the company posted $1.09 EPS. The company’s quarterly revenue was up 16.5% on a year-over-year basis. Research analysts forecast that Emerson Electric Co. will post 5.47 EPS for the current year.

Emerson Electric Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Friday, May 17th were paid a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a yield of 1.94%. The ex-dividend date was Thursday, May 16th. Emerson Electric’s payout ratio is 11.24%.

Wall Street Analyst Weigh In

Several analysts have commented on the company. Loop Capital raised their price objective on Emerson Electric from $130.00 to $135.00 and gave the company a “buy” rating in a report on Friday, May 10th. Berenberg Bank lifted their price target on Emerson Electric from $100.00 to $130.00 and gave the stock a “buy” rating in a research note on Wednesday, March 6th. Barclays lifted their price target on Emerson Electric from $105.00 to $110.00 and gave the stock an “equal weight” rating in a research note on Friday, May 10th. Deutsche Bank Aktiengesellschaft raised Emerson Electric from a “hold” rating to a “buy” rating and lifted their price target for the stock from $123.00 to $138.00 in a research note on Thursday, May 9th. Finally, Wells Fargo & Company lifted their price target on Emerson Electric from $133.00 to $137.00 and gave the stock an “overweight” rating in a research note on Wednesday. Four research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $122.76.

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.