Richards Merrill & Peterson Inc. Trims Stake in Emerson Electric Co. $EMR

Richards Merrill & Peterson Inc. lessened its position in shares of Emerson Electric Co. (NYSE:EMR) by 4.3% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 7,587 shares of the industrial products company’s stock after selling 344 shares during the quarter. Richards Merrill & Peterson Inc.’s holdings in Emerson Electric were worth $1,012,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. Impact Capital Partners LLC raised its stake in shares of Emerson Electric by 3.9% in the 2nd quarter. Impact Capital Partners LLC now owns 1,909 shares of the industrial products company’s stock valued at $255,000 after acquiring an additional 71 shares during the period. Jag Capital Management LLC raised its position in Emerson Electric by 1.9% in the second quarter. Jag Capital Management LLC now owns 3,954 shares of the industrial products company’s stock valued at $527,000 after purchasing an additional 72 shares during the period. Beacon Financial Advisory LLC boosted its position in shares of Emerson Electric by 2.9% in the second quarter. Beacon Financial Advisory LLC now owns 2,769 shares of the industrial products company’s stock worth $369,000 after buying an additional 77 shares during the period. Petros Family Wealth LLC raised its holdings in shares of Emerson Electric by 0.9% during the 2nd quarter. Petros Family Wealth LLC now owns 9,319 shares of the industrial products company’s stock valued at $1,243,000 after buying an additional 80 shares during the period. Finally, Orca Investment Management LLC lifted its position in Emerson Electric by 2.0% during the 2nd quarter. Orca Investment Management LLC now owns 4,190 shares of the industrial products company’s stock worth $559,000 after acquiring an additional 81 shares in the last quarter. 74.30% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on EMR. Wells Fargo & Company reissued an “equal weight” rating and set a $140.00 target price (down from $150.00) on shares of Emerson Electric in a research report on Monday, October 6th. Bank of America raised their target price on Emerson Electric from $130.00 to $155.00 and gave the company a “buy” rating in a research note on Wednesday, July 2nd. Weiss Ratings reiterated a “buy (b-)” rating on shares of Emerson Electric in a research note on Friday. Deutsche Bank Aktiengesellschaft raised their price objective on Emerson Electric from $157.00 to $159.00 and gave the company a “buy” rating in a research note on Thursday, October 2nd. Finally, Royal Bank Of Canada increased their target price on Emerson Electric from $154.00 to $155.00 and gave the company an “outperform” rating in a research note on Thursday, October 16th. Two research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $148.28.

Emerson Electric Stock Performance

EMR stock opened at $132.81 on Friday. The stock’s 50 day simple moving average is $131.77 and its 200 day simple moving average is $126.91. Emerson Electric Co. has a 12-month low of $90.06 and a 12-month high of $150.27. The firm has a market cap of $74.75 billion, a P/E ratio of 28.56, a P/E/G ratio of 2.30 and a beta of 1.29. The company has a current ratio of 0.85, a quick ratio of 0.63 and a debt-to-equity ratio of 0.42.

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

Emerson Electric Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Friday, August 15th were issued a dividend of $0.5275 per share. The ex-dividend date of this dividend was Friday, August 15th. This represents a $2.11 annualized dividend and a dividend yield of 1.6%. Emerson Electric’s dividend payout ratio is 45.38%.

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.