Cooper Financial Group reduces stake in Emerson Electric Co. (NYSE:EMR)

Cooper Financial Group reduced its position in shares of Emerson Electric Co. (NYSE:EMR – Free Report) by 38.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,251 shares of the industrial products company’s stock after selling 2,052 shares during the quarter. Cooper Financial Group’s holdings in Emerson Electric were worth $358,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have recently bought and sold shares of the company. Sapient Capital LLC purchased a new position in shares of Emerson Electric in the fourth quarter valued at about $463,000. Tennessee Valley Asset Management Partners acquired a new stake in Emerson Electric in the fourth quarter valued at $35,000. NewEdge Wealth LLC boosted its stake in Emerson Electric by 16.6% in the fourth quarter. NewEdge Wealth LLC now owns 4,923 shares of the industrial products company’s stock valued at $479,000 after buying an additional 702 shares during the period. Graypoint LLC acquired a new position in shares of Emerson Electric in the 4th quarter valued at about $206,000. Finally, Louisiana State Employees Retirement System purchased a new position in Emerson Electric during the fourth quarter valued at approximately $3,358,000. 74.30% of shares are currently owned by institutional investors and hedge funds.

Emerson Electric stock rose 1.0%

Shares of EMR stock opened at $104.10 on Wednesday. The stock’s 50-day simple moving average is $110.41 and its 200-day simple moving average is $109.44. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.87, and a current ratio of 1.18. Emerson Electric Co. has a 12-month low of $83.10 and a 12-month high of $119.53. The company has a market cap of $59.56 billion, a price-to-earnings ratio of 5.57, a PEG ratio of 1.93 and a beta of 1.32.

Emerson Electric (NYSE:EMR – Get Your Free Report ) last posted its earnings results on Wednesday, August 7th. The industrial products company reported $1.43 earnings per share for the quarter, topping the consensus estimate of $1.42 by $0.01. The business had revenue of $4.38 billion during the quarter, compared to analysts’ expectations of $4.44 billion. Emerson Electric had a net margin of 64.97% and a return on equity of 11.14%. The company’s revenue grew 11.0% year over year. In the same quarter last year, the company earned $1.29 per share. As a group, research analysts predict that Emerson Electric Co. will post 5.47 EPS for the current year.

Emerson Electric Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Friday, August 16th will be issued a dividend of $0.525 per share. This represents an annualized dividend of $2.10 and a dividend yield of 2.02%. The ex-dividend date of this dividend is Friday, August 16. Emerson Electric’s payout ratio is currently 11.24%.

Changes in Analyst Ratings

A number of research firms recently commented on EMR. Barclays cut their price objective on Emerson Electric from $110.00 to $103.00 and set an “equal weight” rating on the stock in a report on Thursday, August 8th. Wells Fargo & Company reduced their price target on shares of Emerson Electric from $137.00 to $128.00 and set an “overweight” rating on the stock in a research note on Thursday, August 8th. Redburn Atlantic initiated coverage on Emerson Electric in a research note on Monday, July 8th. They set a “buy” rating and a $135.00 price objective on the stock. Deutsche Bank Aktiengesellschaft raised Emerson Electric from a “hold” rating to a “buy” rating and upped their target price for the stock from $123.00 to $138.00 in a research report on Thursday. May 9. Finally, Mizuho lifted their price objective on shares of Emerson Electric from $130.00 to $135.00 and gave the company a “buy” rating in a research note on Thursday, May 9th. Four investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Emerson Electric presently has a consensus rating of “Moderate Buy” and an average price target of $123.89, based on data from MarketBeat.com.

Get the latest stock report on EMR

Emerson Electric Profile

(Free Report)

Emerson Electric Co, a technology and software company, provides diverse solutions for customers in the industrial, commercial and consumer markets in the Americas, Asia, the Middle East, Africa and Europe. It operates in six segments: Final Control, Control Systems and Software, Measurement and Analysis, AspenTech, Discrete Automation and Safety and Productivity.

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