Kestra Advisory Services LLC Grows Stake in Emerson Electric Co. (NYSE:EMR)

Kestra Advisory Services LLC grew its position in shares of Emerson Electric Co. (NYSE:EMR) by 9.9% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 187,615 shares of the industrial products company’s stock after purchasing an additional 16,839 shares during the period. Kestra Advisory Services LLC’s holdings in Emerson Electric were worth $21,279,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in EMR. Norges Bank purchased a new position in shares of Emerson Electric during the 4th quarter valued at $764,604,000. First Trust Advisors LP grew its position in Emerson Electric by 219.2% in the fourth quarter. First Trust Advisors LP now owns 2,601,619 shares of the industrial products company’s stock worth $253,216,000 after acquiring an additional 1,786,583 shares in the last quarter. Wellington Management Group LLP grew its position in Emerson Electric by 12.5% in the fourth quarter. Wellington Management Group LLP now owns 13,435,524 shares of the industrial products company’s stock worth $1,307,680,000 after acquiring an additional 1,488,948 shares in the last quarter. Clean Energy Transition LLP grew its position in Emerson Electric by 110.7% in the first quarter. Clean Energy Transition LLP now owns 1,885,183 shares of the industrial products company’s stock worth $213,817,000 after acquiring an additional 990,615 shares in the last quarter. Finally, California Public Employees Retirement System grew its position in Emerson Electric by 55.3% in the fourth quarter. California Public Employees Retirement System now owns 1,696,755 shares of the industrial products company’s stock worth $165,145,000 after acquiring an additional 604,407 shares in the last quarter. 74.30% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Redburn Atlantic assumed coverage on shares of Emerson Electric in a research report on Monday, July 8th. They issued a “buy” rating and a $135.00 target price for the company. Mizuho upped their target price on shares of Emerson Electric from $130.00 to $135.00 and gave the stock a “buy” rating in a research report on Thursday, May 9th. Robert W. Baird cut their target price on shares of Emerson Electric from $120.00 to $116.00 and set a “neutral” rating for the company in a research report on Thursday, May 9th. Wells Fargo & Company boosted their price target on shares of Emerson Electric from $133.00 to $137.00 and gave the stock an “overweight” rating in a research note on Wednesday, June 26th. Finally, Citigroup boosted their price target on shares of Emerson Electric from $120.00 to $133.00 and gave the stock a “buy” rating in a research note on Monday, April 8th. Four research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to MarketBeat, Emerson Electric presently has a consensus rating of “Moderate Buy” and a consensus price target of $123.44.

Emerson Electric Trading Up 2.0 %

EMR stock traded up $2.25 during trading on Friday, reaching $116.84. The company had a trading volume of 1,488,603 shares, compared to its average volume of 2,255,435. Emerson Electric Co. has a 52 week low of $83.10 and a 52 week high of $119.53. The company has a market cap of $66.84 billion, a P/E ratio of 6.25, a PEG ratio of 1.99 and a beta of 1.32. The business has a 50 day moving average of $111.23 and a 200 day moving average of $108.18. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.18 and a quick ratio of 0.87.

Emerson Electric (NYSE:EMR) last released its quarterly earnings results on Wednesday, May 8th. The industrial products company reported $1.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.25 by $0.11. The company had revenue of $4.38 billion during the quarter, compared to the consensus estimate of $4.29 billion. Emerson Electric had a net margin of 64.97% and a return on equity of 11.14%. Emerson Electric’s revenue was up 16.5% on a year-over-year basis. During the same period in the prior year, the firm earned $1.09 earnings per share. As a group, sell-side analysts forecast that Emerson Electric Co. will post 5.47 earnings per share for the current fiscal year.

Emerson Electric Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 10th. Shareholders of record on Friday, May 17th were issued a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a yield of 1.80%. The ex-dividend date was Thursday, May 16th. Emerson Electric’s dividend payout ratio (DPR) is presently 11.24%.

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.