Miracle Mile Advisors LLC Has $3.28 Million Stock Position in Emerson Electric Co. $EMR

Miracle Mile Advisors LLC increased its stake in Emerson Electric Co. (NYSE:EMR) by 18.8% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 25,036 shares of the industrial products company’s stock after purchasing an additional 3,955 shares during the quarter. Miracle Mile Advisors LLC’s holdings in Emerson Electric were worth $3,284,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in EMR. Darwin Wealth Management LLC acquired a new stake in Emerson Electric in the second quarter valued at $29,000. Winnow Wealth LLC acquired a new stake in Emerson Electric in the 2nd quarter valued at about $34,000. PFS Partners LLC grew its holdings in Emerson Electric by 65.9% during the second quarter. PFS Partners LLC now owns 272 shares of the industrial products company’s stock worth $36,000 after purchasing an additional 108 shares during the period. Traub Capital Management LLC bought a new stake in Emerson Electric in the second quarter valued at approximately $37,000. Finally, Princeton Global Asset Management LLC acquired a new stake in shares of Emerson Electric in the second quarter valued at approximately $38,000. 74.30% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. Deutsche Bank Aktiengesellschaft boosted their target price on Emerson Electric from $157.00 to $159.00 and gave the stock a “buy” rating in a report on Thursday, October 2nd. Wells Fargo & Company reiterated an “equal weight” rating and issued a $140.00 price objective (down from $150.00) on shares of Emerson Electric in a report on Monday, October 6th. Royal Bank Of Canada dropped their price objective on shares of Emerson Electric from $155.00 to $153.00 and set an “outperform” rating on the stock in a research report on Thursday, November 6th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Emerson Electric in a report on Wednesday, October 8th. Finally, Barclays upped their price target on shares of Emerson Electric from $127.00 to $135.00 and gave the company an “equal weight” rating in a research note on Thursday, November 6th. Two investment analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $149.06.

Emerson Electric Trading Down 1.9%

EMR stock opened at $132.78 on Friday. Emerson Electric Co. has a 52 week low of $90.06 and a 52 week high of $150.27. The company has a market capitalization of $74.66 billion, a PE ratio of 32.87, a price-to-earnings-growth ratio of 2.16 and a beta of 1.26. The company’s 50-day simple moving average is $133.29 and its 200 day simple moving average is $134.14. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.65 and a current ratio of 0.88.

Emerson Electric (NYSE:EMR) last posted its quarterly earnings data on Thursday, April 6th. The industrial products company reported $0.79 earnings per share (EPS) for the quarter. Emerson Electric had a net margin of 12.73% and a return on equity of 15.87%. The firm had revenue of $3.16 billion during the quarter. As a group, sell-side analysts anticipate that Emerson Electric Co. will post 5.96 earnings per share for the current year.

Emerson Electric Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 10th. Shareholders of record on Friday, November 14th were paid a dividend of $0.555 per share. This is a boost from Emerson Electric’s previous quarterly dividend of $0.53. The ex-dividend date was Friday, November 14th. This represents a $2.22 dividend on an annualized basis and a yield of 1.7%. Emerson Electric’s dividend payout ratio is 54.95%.

Emerson Electric announced that its board has authorized a stock buyback program on Wednesday, November 5th that permits the company to buyback $0.00 in shares. This buyback authorization permits the industrial products company to buy shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its stock is undervalued.

Insiders Place Their Bets

In other news, CEO Surendralal Lanca Karsanbhai sold 7,263 shares of the company’s stock in a transaction on Wednesday, December 3rd. The stock was sold at an average price of $133.00, for a total transaction of $965,979.00. Following the completion of the sale, the chief executive officer directly owned 196,292 shares in the company, valued at approximately $26,106,836. This represents a 3.57% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.23% of the stock is owned by corporate insiders.

Emerson Electric Profile

Emerson Electric Co is a global technology and engineering company that designs and manufactures products and provides services for industrial, commercial and consumer markets. Founded in 1890, the company is headquartered in St. Louis, Missouri, and has built a long-standing presence in automation, control and climate-related technologies. Emerson’s offerings are aimed at improving productivity, energy efficiency and reliability for a wide range of end markets.

Emerson operates through two principal platforms—Automation Solutions and Commercial & Residential Solutions—providing process automation systems, measurement and analytical instrumentation, valves and actuators, control software, and related aftermarket services, alongside products for heating, ventilation and refrigeration, residential and commercial climate controls, tools and storage solutions.