Mechanics Bank Trust Department Has $1.68 Million Stock Position in Emerson Electric Co. (NYSE:EMR)

Mechanics Bank Trust Department lessened its holdings in shares of Emerson Electric Co. (NYSE:EMRFree Report) by 4.5% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 14,801 shares of the industrial products company’s stock after selling 700 shares during the period. Mechanics Bank Trust Department’s holdings in Emerson Electric were worth $1,679,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Acadian Asset Management LLC boosted its holdings in Emerson Electric by 9.7% in the third quarter. Acadian Asset Management LLC now owns 37,390 shares of the industrial products company’s stock valued at $3,606,000 after acquiring an additional 3,317 shares during the last quarter. Cary Street Partners Investment Advisory LLC increased its position in shares of Emerson Electric by 41.0% during the third quarter. Cary Street Partners Investment Advisory LLC now owns 6,509 shares of the industrial products company’s stock worth $629,000 after buying an additional 1,893 shares during the period. Meiji Yasuda Life Insurance Co bought a new position in Emerson Electric during the third quarter worth $551,000. Asset Dedication LLC boosted its position in Emerson Electric by 39.6% during the third quarter. Asset Dedication LLC now owns 1,586 shares of the industrial products company’s stock valued at $153,000 after acquiring an additional 450 shares during the last quarter. Finally, Natixis Advisors L.P. grew its holdings in Emerson Electric by 13.8% during the 3rd quarter. Natixis Advisors L.P. now owns 269,935 shares of the industrial products company’s stock worth $26,068,000 after acquiring an additional 32,759 shares during the period. 74.30% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently commented on EMR shares. Mizuho upped their target price on Emerson Electric from $130.00 to $135.00 and gave the company a “buy” rating in a research report on Thursday, May 9th. Citigroup increased their target price 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. Barclays lifted their price target on shares of Emerson Electric from $105.00 to $110.00 and gave the company an “equal weight” rating in a research note on Friday, May 10th. UBS Group raised their target price on Emerson Electric from $95.00 to $120.00 and gave the company a “neutral” rating in a research note on Thursday, March 21st. Finally, Bank of America upped their price target on Emerson Electric from $120.00 to $130.00 and gave the stock a “buy” rating in a research note on Monday, March 4th. Four equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $121.76.

Get Our Latest Analysis on EMR

Emerson Electric Stock Down 1.4 %

Emerson Electric stock traded down $1.53 during midday trading on Tuesday, hitting $107.79. 863,514 shares of the stock were exchanged, compared to its average volume of 2,666,842. Emerson Electric Co. has a 52-week low of $83.10 and a 52-week high of $116.76. The company has a quick ratio of 0.87, a current ratio of 1.18 and a debt-to-equity ratio of 0.28. The business’s 50-day moving average price is $110.14 and its 200-day moving average price is $105.29. The stock has a market capitalization of $61.67 billion, a price-to-earnings ratio of 5.85, a price-to-earnings-growth ratio of 1.81 and a beta of 1.34.

Emerson Electric (NYSE:EMRGet Free Report) last released its earnings results on Wednesday, May 8th. The industrial products company reported $1.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.25 by $0.11. Emerson Electric had a return on equity of 11.14% and a net margin of 64.97%. The company had revenue of $4.38 billion during the quarter, compared to analyst estimates of $4.29 billion. During the same period in the prior year, the company posted $1.09 earnings per share. Emerson Electric’s quarterly revenue was up 16.5% on a year-over-year basis. On average, research analysts expect 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 was paid on Monday, June 10th. Investors of record on Friday, May 17th were given a dividend of $0.525 per share. The ex-dividend date of this dividend was Thursday, May 16th. This represents a $2.10 annualized dividend and a yield of 1.95%. Emerson Electric’s payout ratio is currently 11.24%.

Emerson Electric Company Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Emerson Electric (NYSE:EMR)

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