Thoroughbred Financial Services LLC Sells 930 Shares of Emerson Electric Co. $EMR

Thoroughbred Financial Services LLC lessened its stake in shares of Emerson Electric Co. (NYSE:EMR) by 8.2% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 10,392 shares of the industrial products company’s stock after selling 930 shares during the quarter. Thoroughbred Financial Services LLC’s holdings in Emerson Electric were worth $1,385,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in EMR. Saudi Central Bank bought a new stake in Emerson Electric during the first quarter worth approximately $25,000. MJT & Associates Financial Advisory Group Inc. bought a new stake in shares of Emerson Electric during the 1st quarter worth $27,000. PFS Partners LLC grew its stake in Emerson Electric by 65.9% in the 2nd quarter. PFS Partners LLC now owns 272 shares of the industrial products company’s stock valued at $36,000 after buying an additional 108 shares during the last quarter. Princeton Global Asset Management LLC bought a new position in Emerson Electric in the 2nd quarter worth $38,000. Finally, Clal Insurance Enterprises Holdings Ltd lifted its position in Emerson Electric by 436.4% during the 1st quarter. Clal Insurance Enterprises Holdings Ltd now owns 354 shares of the industrial products company’s stock worth $39,000 after acquiring an additional 288 shares during the last quarter. 74.30% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have recently commented on EMR. Deutsche Bank Aktiengesellschaft lifted their price objective on Emerson Electric from $157.00 to $159.00 and gave the stock a “buy” rating in a research note on Thursday, October 2nd. Royal Bank Of Canada dropped their price target on Emerson Electric from $155.00 to $153.00 and set an “outperform” rating on the stock in a research report on Thursday, November 6th. Daiwa Capital Markets increased their price objective on Emerson Electric from $150.00 to $153.00 and gave the company an “outperform” rating in a research report on Wednesday, September 24th. Wolfe Research dropped their target price on shares of Emerson Electric from $173.00 to $172.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 8th. Finally, Barclays increased their price target on shares of Emerson Electric from $127.00 to $135.00 and gave the company an “equal weight” rating in a report on Thursday, November 6th. Two analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $149.00.

Emerson Electric Stock Performance

NYSE EMR opened at $127.48 on Friday. Emerson Electric Co. has a twelve month low of $90.06 and a twelve month high of $150.27. The company has a quick ratio of 0.63, a current ratio of 0.85 and a debt-to-equity ratio of 0.42. The stock has a market cap of $71.62 billion, a P/E ratio of 27.42, a PEG ratio of 2.36 and a beta of 1.30. The company’s 50-day simple moving average is $132.16 and its 200 day simple moving average is $130.65.

Emerson Electric (NYSE:EMR) last released its quarterly earnings data on Thursday, April 6th. The industrial products company reported $0.79 earnings per share for the quarter. The company had revenue of $3.16 billion for the quarter. Emerson Electric had a return on equity of 14.34% and a net margin of 14.92%. As a group, research analysts forecast that Emerson Electric Co. will post 5.96 earnings per share for the current fiscal year.

Emerson Electric Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 10th. Stockholders of record on Friday, November 14th will be paid a $0.555 dividend. The ex-dividend date is Friday, November 14th. This represents a $2.22 annualized dividend and a dividend yield of 1.7%. This is a boost from Emerson Electric’s previous quarterly dividend of $0.53. Emerson Electric’s dividend payout ratio is presently 54.95%.

Emerson Electric declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, November 5th that permits the company to buyback $0.00 in shares. This buyback authorization permits the industrial products company to purchase shares of its stock through open market purchases. Shares buyback plans are often a sign that the company’s leadership believes its stock is undervalued.

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.