Merit Financial Group LLC Acquires 1,473 Shares of Emerson Electric Co. $EMR

Merit Financial Group LLC grew its holdings in shares of Emerson Electric Co. (NYSE:EMR) by 5.8% during the second quarter, Holdings Channel reports. The firm owned 26,668 shares of the industrial products company’s stock after purchasing an additional 1,473 shares during the period. Merit Financial Group LLC’s holdings in Emerson Electric were worth $3,556,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. First Horizon Advisors Inc. raised its holdings in shares of Emerson Electric by 2.7% during the 1st quarter. First Horizon Advisors Inc. now owns 212,252 shares of the industrial products company’s stock valued at $23,271,000 after purchasing an additional 5,504 shares in the last quarter. North Capital Inc. bought a new position in Emerson Electric in the 1st quarter worth $211,000. Davis Investment Partners LLC bought a new position in Emerson Electric in the 2nd quarter worth $692,000. Golden State Equity Partners bought a new position in Emerson Electric in the 1st quarter worth $459,000. Finally, Truist Financial Corp raised its holdings in Emerson Electric by 1.7% in the 1st quarter. Truist Financial Corp now owns 1,078,616 shares of the industrial products company’s stock worth $118,259,000 after acquiring an additional 18,069 shares during the period. Institutional investors own 74.30% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on EMR. Daiwa Capital Markets lifted their target price on shares of Emerson Electric from $150.00 to $153.00 and gave the stock an “outperform” rating in a report on Wednesday, September 24th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Emerson Electric from $157.00 to $159.00 and gave the stock a “buy” rating in a report on Thursday, October 2nd. Barclays upgraded shares of Emerson Electric from an “underweight” rating to an “equal weight” rating and lifted their target price for the stock from $125.00 to $127.00 in a report on Thursday, August 7th. Weiss Ratings restated a “buy (b-)” rating on shares of Emerson Electric in a report on Saturday, September 27th. Finally, TD Cowen raised shares of Emerson Electric to a “strong-buy” rating in a research report on Tuesday, July 8th. Two equities research 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 assigned a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $144.29.

Emerson Electric Stock Down 2.5%

EMR opened at $131.40 on Wednesday. The firm has a market cap of $73.95 billion, a price-to-earnings ratio of 28.26, a PEG ratio of 2.34 and a beta of 1.29. Emerson Electric Co. has a twelve month low of $90.06 and a twelve month high of $150.27. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.63 and a current ratio of 0.85. The firm’s 50-day simple moving average is $133.51 and its 200-day simple moving average is $124.93.

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

Emerson Electric Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Friday, August 15th were given a $0.5275 dividend. The ex-dividend date was Friday, August 15th. This represents a $2.11 dividend on an annualized basis and a yield of 1.6%. Emerson Electric’s payout ratio is 45.38%.

About Emerson Electric

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.