SouthState Corp Has $6.87 Million Stake in Emerson Electric Co. $EMR

SouthState Corp increased its holdings in Emerson Electric Co. (NYSE:EMR) by 5.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 51,537 shares of the industrial products company’s stock after buying an additional 2,435 shares during the period. SouthState Corp’s holdings in Emerson Electric were worth $6,871,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Ethos Financial Group LLC raised its position in shares of Emerson Electric by 14.3% in the second quarter. Ethos Financial Group LLC now owns 1,916 shares of the industrial products company’s stock valued at $255,000 after buying an additional 239 shares in the last quarter. Centerpoint Advisory Group acquired a new stake in shares of Emerson Electric in the second quarter valued at approximately $214,000. Brooktree Capital Management acquired a new stake in shares of Emerson Electric in the second quarter valued at approximately $267,000. Resona Asset Management Co. Ltd. raised its position in shares of Emerson Electric by 5.7% in the second quarter. Resona Asset Management Co. Ltd. now owns 206,838 shares of the industrial products company’s stock valued at $27,570,000 after buying an additional 11,145 shares in the last quarter. Finally, Atlantic Union Bankshares Corp raised its position in Emerson Electric by 34.9% during the second quarter. Atlantic Union Bankshares Corp now owns 23,758 shares of the industrial products company’s stock valued at $3,168,000 after purchasing an additional 6,151 shares in the last quarter. 74.30% of the stock is currently owned by institutional investors and hedge funds.

Emerson Electric Stock Down 3.9%

Shares of NYSE:EMR opened at $132.42 on Thursday. The company has a fifty day moving average of $132.48 and a 200-day moving average of $129.32. The company has a market capitalization of $74.53 billion, a PE ratio of 28.48, a price-to-earnings-growth ratio of 2.36 and a beta of 1.30. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.63 and a current ratio of 0.85. Emerson Electric Co. has a 52-week low of $90.06 and a 52-week high of $150.27.

Emerson Electric (NYSE:EMR) last announced its quarterly earnings results on Thursday, April 6th. The industrial products company reported $0.79 earnings per share (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, equities analysts predict that Emerson Electric Co. will post 5.96 EPS for the current fiscal year.

Emerson Electric announced that its Board of Directors has authorized a stock repurchase program on Wednesday, November 5th that allows the company to repurchase $0.00 in outstanding shares. This repurchase authorization allows the industrial products company to reacquire shares of its stock through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

Emerson Electric Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 10th. Investors of record on Friday, November 14th will be paid a $0.555 dividend. This is a positive change from Emerson Electric’s previous quarterly dividend of $0.53. This represents a $2.22 annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend is Friday, November 14th. Emerson Electric’s payout ratio is presently 45.38%.

Analysts Set New Price Targets

Several brokerages have commented on EMR. Wells Fargo & Company restated an “equal weight” rating and set a $140.00 price objective (down from $150.00) on shares of Emerson Electric in a research report on Monday, October 6th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Emerson Electric from $157.00 to $159.00 and gave the company a “buy” rating in a research report on Thursday, October 2nd. JPMorgan Chase & Co. boosted their price objective on shares of Emerson Electric from $135.00 to $151.00 and gave the company a “neutral” rating in a research report on Wednesday, October 15th. Jefferies Financial Group lowered their price objective on shares of Emerson Electric from $160.00 to $155.00 and set a “buy” rating for the company in a research report on Tuesday, October 7th. Finally, Wolfe Research lowered their price objective on shares of Emerson Electric from $173.00 to $172.00 and set an “outperform” rating for the company in a research report on Wednesday, October 8th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $148.28.

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.