Addenda Capital Inc. Cuts Holdings in Emerson Electric Co. (NYSE:EMR)

Addenda Capital Inc. reduced its position in Emerson Electric Co. (NYSE:EMR) by 0.3% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 65,588 shares of the industrial products company’s stock after selling 183 shares during the period. Addenda Capital Inc.’s holdings in Emerson Electric were worth $7,439,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Tobam raised its position in shares of Emerson Electric by 2,275.0% in the 4th quarter. Tobam now owns 285 shares of the industrial products company’s stock worth $28,000 after buying an additional 273 shares during the period. Security National Bank acquired a new stake in Emerson Electric in the 4th quarter valued at $29,000. Cape Investment Advisory Inc. increased its holdings in Emerson Electric by 148.0% in the 4th quarter. Cape Investment Advisory Inc. now owns 315 shares of the industrial products company’s stock valued at $31,000 after purchasing an additional 188 shares in the last quarter. Rise Advisors LLC acquired a new stake in Emerson Electric in the 1st quarter valued at $36,000. Finally, Burkett Financial Services LLC acquired a new stake in Emerson Electric in the 4th quarter valued at $32,000. 74.30% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Wells Fargo & Company increased their price target on Emerson Electric from $133.00 to $137.00 and gave the company an “overweight” rating in a report on Wednesday. Barclays increased their price target on Emerson Electric from $105.00 to $110.00 and gave the company an “equal weight” rating in a report on Friday, May 10th. Deutsche Bank Aktiengesellschaft upgraded Emerson Electric from a “hold” rating to a “buy” rating and raised their target price for the company from $123.00 to $138.00 in a research note on Thursday, May 9th. Citigroup raised their target price on Emerson Electric from $120.00 to $133.00 and gave the company a “buy” rating in a research note on Monday, April 8th. Finally, Mizuho raised their target price on Emerson Electric from $130.00 to $135.00 and gave the company a “buy” rating in a research note on Thursday, May 9th. Four research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, Emerson Electric currently has a consensus rating of “Moderate Buy” and an average price target of $122.76.

Emerson Electric Stock Performance

NYSE EMR traded up $1.87 during trading hours on Friday, reaching $110.16. The company’s stock had a trading volume of 4,684,587 shares, compared to its average volume of 2,698,480. The business has a 50-day simple moving average of $110.00 and a 200 day simple moving average of $105.59. The stock has a market cap of $63.02 billion, a PE ratio of 5.89, a PEG ratio of 1.77 and a beta of 1.33. The company has a current ratio of 1.18, a quick ratio of 0.87 and a debt-to-equity ratio of 0.28. Emerson Electric Co. has a 52 week low of $83.10 and a 52 week high of $116.76.

Emerson Electric (NYSE:EMR) last released its quarterly earnings results on Wednesday, May 8th. The industrial products company reported $1.36 earnings per share for the quarter, beating analysts’ consensus estimates of $1.25 by $0.11. The company had revenue of $4.38 billion for the quarter, compared to analysts’ expectations of $4.29 billion. Emerson Electric had a return on equity of 11.14% and a net margin of 64.97%. The business’s revenue for the quarter was up 16.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.09 earnings per share. Equities research analysts predict that Emerson Electric Co. will post 5.47 earnings per share for the current fiscal year.

Emerson Electric Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 10th. Stockholders of record on Friday, May 17th were issued a dividend of $0.525 per share. The ex-dividend date of this dividend was Thursday, May 16th. This represents a $2.10 dividend on an annualized basis and a dividend yield of 1.91%. Emerson Electric’s dividend payout ratio (DPR) is presently 11.24%.

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.