Sovereign Financial Group Inc. Buys Shares of 1,783 Emerson Electric Co. (NYSE:EMR)

Sovereign Financial Group Inc. bought a new position in shares of Emerson Electric Co. (NYSE:EMR) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 1,783 shares of the industrial products company’s stock, valued at approximately $202,000.

Other institutional investors also recently made changes to their positions in the company. Future Financial Wealth Managment LLC acquired a new position in Emerson Electric during the first quarter worth $57,000. Sunbelt Securities Inc. raised its position in Emerson Electric by 50.3% during the first quarter. Sunbelt Securities Inc. now owns 4,491 shares of the industrial products company’s stock worth $509,000 after acquiring an additional 1,502 shares during the last quarter. CFM Wealth Partners LLC grew its position in shares of Emerson Electric by 5.1% in the first quarter. CFM Wealth Partners LLC now owns 2,868 shares of the industrial products company’s stock valued at $325,000 after purchasing an additional 140 shares during the last quarter. Kingswood Wealth Advisors LLC raised its position in shares of Emerson Electric by 11.2% during the 1st quarter. Kingswood Wealth Advisors LLC now owns 4,419 shares of the industrial products company’s stock worth $501,000 after purchasing an additional 445 shares during the last quarter. Finally, Thompson Investment Management Inc. grew its holdings in Emerson Electric by 2,650.0% during the 1st quarter. Thompson Investment Management Inc. now owns 385 shares of the industrial products company’s stock valued at $44,000 after buying an additional 371 shares during the last quarter. 74.30% of the stock is currently owned by hedge funds and other institutional investors.

Emerson Electric Price Performance

Shares of EMR opened at $106.09 on Thursday. 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 firm has a market capitalization of $60.69 billion, a PE ratio of 5.68, a PEG ratio of 1.80 and a beta of 1.33. Emerson Electric Co. has a fifty-two week low of $83.10 and a fifty-two week high of $116.76. The company’s 50-day moving average is $110.07 and its 200-day moving average is $105.42.

Emerson Electric (NYSE:EMR) last announced its quarterly earnings results on Wednesday, May 8th. The industrial products company reported $1.36 earnings per share (EPS) for the quarter, topping 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 business had revenue of $4.38 billion for the quarter, compared to analyst estimates of $4.29 billion. During the same quarter in the prior year, the company earned $1.09 earnings per share. The company’s quarterly revenue was up 16.5% on a year-over-year basis. Equities analysts forecast that Emerson Electric Co. will post 5.47 EPS for the current year.

Emerson Electric Dividend Announcement

The business also recently announced 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 annualized dividend and a yield of 1.98%. The ex-dividend date was Thursday, May 16th. Emerson Electric’s dividend payout ratio (DPR) is 11.24%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Robert W. Baird lowered their price target on Emerson Electric from $120.00 to $116.00 and set a “neutral” rating for the company in a research report on Thursday, May 9th. Mizuho boosted their price objective on shares of Emerson Electric from $130.00 to $135.00 and gave the stock a “buy” rating in a report on Thursday, May 9th. Bank of America lifted their price objective on Emerson Electric from $120.00 to $130.00 and gave the stock a “buy” rating in a report on Monday, March 4th. UBS Group upped their price target on shares of Emerson Electric from $95.00 to $120.00 and gave the company a “neutral” rating in a report on Thursday, March 21st. Finally, Loop Capital increased their price objective 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. Four equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $122.76.

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.