Abbot Financial Management Inc. Decreases Holdings in Emerson Electric Co. (NYSE:EMR)

Abbot Financial Management Inc. lowered its position in Emerson Electric Co. (NYSE:EMR) by 4.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,484 shares of the industrial products company’s stock after selling 925 shares during the quarter. Emerson Electric makes up approximately 1.1% of Abbot Financial Management Inc.’s portfolio, making the stock its 24th biggest position. Abbot Financial Management Inc.’s holdings in Emerson Electric were worth $2,036,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of EMR. Connors Investor Services Inc. raised its position in Emerson Electric by 3.9% in the 2nd quarter. Connors Investor Services Inc. now owns 133,408 shares of the industrial products company’s stock worth $14,696,000 after purchasing an additional 5,067 shares during the period. Perennial Investment Advisors LLC purchased a new position in shares of Emerson Electric in the second quarter worth about $226,000. Moors & Cabot Inc. lifted its stake in shares of Emerson Electric by 80.7% in the 2nd quarter. Moors & Cabot Inc. now owns 93,122 shares of the industrial products company’s stock valued at $10,258,000 after acquiring an additional 41,579 shares during the last quarter. WealthPLAN Partners LLC purchased a new stake in Emerson Electric during the 2nd quarter valued at about $3,072,000. Finally, Renaissance Technologies LLC bought a new position in Emerson Electric during the 2nd quarter worth approximately $61,304,000. 74.30% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on EMR. Redburn Atlantic initiated coverage on Emerson Electric in a research report on Monday, July 8th. They issued a “buy” rating and a $135.00 price objective for the company. Oppenheimer dropped their price target on shares of Emerson Electric from $125.00 to $120.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. StockNews.com cut shares of Emerson Electric from a “buy” rating to a “hold” rating in a research report on Thursday, July 25th. Royal Bank of Canada dropped their target price on shares of Emerson Electric from $140.00 to $139.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Finally, Barclays reduced their price target on Emerson Electric from $110.00 to $103.00 and set an “equal weight” rating on the stock in a report on Thursday, August 8th. One research 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’s stock. According to data from MarketBeat, Emerson Electric currently has a consensus rating of “Moderate Buy” and a consensus target price of $124.29.

Emerson Electric Stock Performance

Shares of Emerson Electric stock opened at $102.30 on Tuesday. The business has a fifty day simple moving average of $107.66 and a two-hundred day simple moving average of $109.57. The firm has a market capitalization of $58.53 billion, a P/E ratio of 5.47, a P/E/G ratio of 1.66 and a beta of 1.30. The company has a current ratio of 1.16, a quick ratio of 0.86 and a debt-to-equity ratio of 0.27. Emerson Electric Co. has a 12 month low of $83.10 and a 12 month high of $119.53.

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

Emerson Electric Announces Dividend

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

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.