Miracle Mile Advisors LLC Grows Stock Position in Emerson Electric Co. (NYSE:EMR)

Miracle Mile Advisors LLC lifted its stake in Emerson Electric Co. (NYSE:EMR) by 193.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 18,318 shares of the industrial products company’s stock after purchasing an additional 12,085 shares during the period. Miracle Mile Advisors LLC’s holdings in Emerson Electric were worth $2,078,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Harbour Capital Advisors LLC raised its stake in Emerson Electric by 1.7% in the first quarter. Harbour Capital Advisors LLC now owns 6,136 shares of the industrial products company’s stock valued at $695,000 after buying an additional 100 shares in the last quarter. Financial Advocates Investment Management raised its stake in Emerson Electric by 1.0% in the fourth quarter. Financial Advocates Investment Management now owns 10,208 shares of the industrial products company’s stock valued at $994,000 after buying an additional 101 shares in the last quarter. Chemung Canal Trust Co. raised its stake 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 valued at $4,495,000 after buying an additional 103 shares in the last quarter. Stonehearth Capital Management LLC raised its stake in Emerson Electric by 3.3% in the first quarter. Stonehearth Capital Management LLC now owns 3,320 shares of the industrial products company’s stock valued at $377,000 after buying an additional 107 shares in the last quarter. Finally, PFG Advisors raised its stake in Emerson Electric by 4.5% in the fourth quarter. PFG Advisors now owns 2,495 shares of the industrial products company’s stock valued at $243,000 after buying an additional 108 shares in the last quarter. 74.30% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

EMR has been the topic of a number of analyst reports. Deutsche Bank Aktiengesellschaft upgraded Emerson Electric from a “hold” rating to a “buy” rating and raised their price target for the company from $123.00 to $138.00 in a research note on Thursday, May 9th. Robert W. Baird cut their target price on Emerson Electric from $120.00 to $116.00 and set a “neutral” rating on the stock in a research report on Thursday, May 9th. Bank of America lifted their target price on Emerson Electric from $120.00 to $130.00 and gave the stock a “buy” rating in a research report on Monday, March 4th. Loop Capital lifted their target price on Emerson Electric from $130.00 to $135.00 and gave the stock a “buy” rating in a research report on Friday, May 10th. Finally, UBS Group lifted their target price on Emerson Electric from $95.00 to $120.00 and gave the stock a “neutral” rating in a research report on Thursday, March 21st. Four research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $122.76.

Emerson Electric Price Performance

Shares of EMR opened at $108.00 on Tuesday. Emerson Electric Co. has a twelve month low of $83.10 and a twelve month high of $116.76. The stock’s 50 day moving average is $110.00 and its two-hundred day moving average is $105.79. The firm has a market capitalization of $61.79 billion, a PE ratio of 5.78, a P/E/G ratio of 1.88 and a beta of 1.32. The company has a current ratio of 1.18, a quick ratio of 0.87 and a debt-to-equity ratio of 0.28.

Emerson Electric (NYSE:EMR) last announced its quarterly earnings data on Wednesday, May 8th. The industrial products company reported $1.36 earnings per share for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $4.29 billion. During the same quarter in the previous year, the company earned $1.09 EPS. The firm’s revenue for the quarter was up 16.5% compared to the same quarter last year. Research analysts anticipate that Emerson Electric Co. will post 5.47 earnings per share for the current year.

Emerson Electric Announces Dividend

The firm also recently disclosed 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 dividend on an annualized basis and a yield of 1.94%. The ex-dividend date was Thursday, May 16th. Emerson Electric’s dividend payout ratio is presently 11.24%.

Emerson Electric 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.