32,765 Shares in Emerson Electric Co. (NYSE:EMR) Purchased by SteelPeak Wealth LLC

SteelPeak Wealth LLC bought a new stake in Emerson Electric Co. (NYSE:EMRFree Report) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 32,765 shares of the industrial products company’s stock, valued at approximately $3,716,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Chatham Capital Group Inc. bought a new stake in shares of Emerson Electric during the first quarter valued at approximately $218,000. Sandy Cove Advisors LLC raised its holdings in Emerson Electric by 4.4% during the first quarter. Sandy Cove Advisors LLC now owns 2,784 shares of the industrial products company’s stock worth $316,000 after purchasing an additional 118 shares in the last quarter. Guidance Capital Inc. acquired a new position in Emerson Electric in the first quarter worth approximately $953,000. Brown Miller Wealth Management LLC acquired a new position in Emerson Electric in the first quarter worth approximately $280,000. Finally, Chemung Canal Trust Co. grew its position in Emerson Electric by 0.3% in the first quarter. Chemung Canal Trust Co. now owns 39,629 shares of the industrial products company’s stock worth $4,495,000 after buying an additional 103 shares during the last quarter. 74.30% of the stock is currently owned by institutional investors and hedge funds.

Emerson Electric Trading Up 1.7 %

NYSE EMR traded up $1.87 during trading hours on Friday, hitting $110.16. The company’s stock had a trading volume of 4,756,234 shares, compared to its average volume of 2,308,747. The stock has a fifty day moving average of $110.00 and a 200 day moving average of $105.79. Emerson Electric Co. has a twelve month low of $83.10 and a twelve month high of $116.76. The firm has a market capitalization of $63.02 billion, a P/E ratio of 5.89, a PEG ratio of 1.84 and a beta of 1.33. The company has a quick ratio of 0.87, a current ratio of 1.18 and a debt-to-equity ratio of 0.28.

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

Emerson Electric Announces Dividend

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

Analysts Set New Price Targets

Several equities analysts have weighed in on EMR shares. UBS Group lifted their price objective on shares of Emerson Electric from $95.00 to $120.00 and gave the stock a “neutral” rating in a research report on Thursday, March 21st. StockNews.com lowered shares of Emerson Electric from a “buy” rating to a “hold” rating in a research report on Friday, May 17th. Loop Capital boosted 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 Friday, May 10th. Bank of America upped their price objective on shares of Emerson Electric from $120.00 to $130.00 and gave the company a “buy” rating in a research report on Monday, March 4th. Finally, Deutsche Bank Aktiengesellschaft raised shares of Emerson Electric from a “hold” rating to a “buy” rating and upped their price objective for the company from $123.00 to $138.00 in a research report on Thursday, May 9th. Four investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $122.76.

Check Out Our Latest Analysis on Emerson Electric

Emerson Electric 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.

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

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