Moors & Cabot Inc. Increases Stake in Emerson Electric Co. (NYSE:EMR)

Moors & Cabot Inc. increased its position in shares of Emerson Electric Co. (NYSE:EMR) by 80.7% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 93,122 shares of the industrial products company’s stock after purchasing an additional 41,579 shares during the period. Moors & Cabot Inc.’s holdings in Emerson Electric were worth $10,258,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the company. WealthPLAN Partners LLC bought a new position in shares of Emerson Electric during the second quarter valued at approximately $3,072,000. Renaissance Technologies LLC bought a new position in Emerson Electric in the 2nd quarter valued at $61,304,000. Citizens Financial Group Inc. RI increased its stake in Emerson Electric by 3.1% in the second quarter. Citizens Financial Group Inc. RI now owns 96,579 shares of the industrial products company’s stock worth $10,639,000 after purchasing an additional 2,941 shares during the period. One Capital Management LLC boosted its stake in shares of Emerson Electric by 77.5% during the second quarter. One Capital Management LLC now owns 3,379 shares of the industrial products company’s stock valued at $372,000 after purchasing an additional 1,475 shares during the period. Finally, Dimensional Fund Advisors LP grew its holdings in shares of Emerson Electric by 17.7% in the second quarter. Dimensional Fund Advisors LP now owns 2,358,796 shares of the industrial products company’s stock worth $259,809,000 after purchasing an additional 355,106 shares during the last quarter. 74.30% of the stock is currently owned by institutional investors.

Emerson Electric Stock Performance

Shares of Emerson Electric stock opened at $102.30 on Tuesday. The company has a 50 day moving average price of $107.66 and a 200 day moving average price of $109.57. The firm has a market capitalization of $58.53 billion, a P/E ratio of 5.47, a PEG ratio of 1.66 and a beta of 1.30. The company has a quick ratio of 0.86, a current ratio of 1.16 and a debt-to-equity ratio of 0.27. Emerson Electric Co. has a 52 week low of $83.10 and a 52 week high of $119.53.

Emerson Electric (NYSE:EMR) last posted its quarterly earnings results on Wednesday, August 7th. The industrial products company reported $1.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.42 by $0.01. The business had revenue of $4.38 billion during the quarter, compared to analysts’ expectations of $4.44 billion. Emerson Electric had a net margin of 10.12% and a return on equity of 11.41%. The business’s quarterly revenue was up 11.0% on a year-over-year basis. During the same quarter last year, the company posted $1.29 earnings per share. Sell-side analysts expect that Emerson Electric Co. will post 5.48 EPS for the current year.

Emerson Electric Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Friday, August 16th were issued a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a dividend yield of 2.05%. The ex-dividend date of this dividend was Friday, August 16th. Emerson Electric’s dividend payout ratio is presently 11.24%.

Wall Street Analyst Weigh In

EMR has been the subject of several research reports. JPMorgan Chase & Co. cut shares of Emerson Electric from an “overweight” rating to a “neutral” rating and lowered their price objective for the company from $132.00 to $115.00 in a research report on Wednesday, August 14th. Oppenheimer reduced their price objective on Emerson Electric from $125.00 to $120.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. Wells Fargo & Company lowered their target price on Emerson Electric from $137.00 to $128.00 and set an “overweight” rating for the company in a report on Thursday, August 8th. Morgan Stanley assumed coverage on Emerson Electric in a research note on Friday, September 6th. They set an “underweight” rating and a $105.00 price target on the stock. Finally, Royal Bank of Canada dropped their target price on shares of Emerson Electric from $140.00 to $139.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $124.29.

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.