Mechanics Bank Trust Department Has $1.57 Million Holdings in Emerson Electric Co. (NYSE:EMR)

Mechanics Bank Trust Department reduced its position in Emerson Electric Co. (NYSE:EMR) by 3.7% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,251 shares of the industrial products company’s stock after selling 550 shares during the period. Mechanics Bank Trust Department’s holdings in Emerson Electric were worth $1,570,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of EMR. Tobam grew its holdings in Emerson Electric by 2,275.0% during the fourth quarter. Tobam now owns 285 shares of the industrial products company’s stock worth $28,000 after buying an additional 273 shares in the last quarter. Accordant Advisory Group Inc purchased a new position in Emerson Electric during the first quarter worth about $29,000. Security National Bank bought a new stake in Emerson Electric in the 4th quarter worth about $29,000. Cape Investment Advisory Inc. increased its stake 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 buying an additional 188 shares during the last quarter. Finally, Transcendent Capital Group LLC purchased a new position in shares of Emerson Electric in the 1st quarter worth approximately $31,000. Institutional investors and hedge funds own 74.30% of the company’s stock.

Emerson Electric Price Performance

NYSE EMR traded down $0.92 during trading hours on Friday, reaching $103.69. 3,644,583 shares of the stock traded hands, compared to its average volume of 2,688,658. The stock has a 50 day simple moving average of $110.58 and a two-hundred day simple moving average of $109.33. Emerson Electric Co. has a 1 year low of $83.10 and a 1 year high of $119.53. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.18 and a quick ratio of 0.87. The company has a market cap of $59.32 billion, a price-to-earnings ratio of 5.55, a price-to-earnings-growth ratio of 1.93 and a beta of 1.32.

Emerson Electric (NYSE:EMR) last posted its quarterly earnings results on Wednesday, August 7th. The industrial products company reported $1.43 EPS for the quarter, topping the consensus estimate of $1.42 by $0.01. The firm had revenue of $4.38 billion for the quarter, compared to the consensus estimate of $4.44 billion. Emerson Electric had a net margin of 64.97% and a return on equity of 11.14%. The business’s revenue was up 11.0% compared to the same quarter last year. During the same period last year, the firm posted $1.29 earnings per share. On average, analysts predict that Emerson Electric Co. will post 5.47 EPS for the current fiscal year.

Emerson Electric Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Friday, August 16th will be paid a $0.525 dividend. The ex-dividend date of this dividend is Friday, August 16th. This represents a $2.10 annualized dividend and a dividend yield of 2.03%. Emerson Electric’s payout ratio is currently 11.24%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on EMR. Oppenheimer lowered their target price on Emerson Electric from $125.00 to $120.00 and set an “outperform” rating on the stock in a research note on Thursday. Loop Capital raised their price target on shares of Emerson Electric from $130.00 to $135.00 and gave the stock a “buy” rating in a research note on Friday, May 10th. Wells Fargo & Company dropped their price objective on Emerson Electric from $137.00 to $128.00 and set an “overweight” rating on the stock in a research note on Thursday. Barclays lowered their target price on Emerson Electric from $110.00 to $103.00 and set an “equal weight” rating on the stock in a research note on Thursday. Finally, Redburn Atlantic started coverage on Emerson Electric in a report on Monday, July 8th. They issued a “buy” rating and a $135.00 price objective for the company. Four analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $123.89.

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.