Allspring Global Investments Holdings LLC Decreases Position in Emerson Electric Co. (NYSE:EMR)

Allspring Global Investments Holdings LLC decreased its holdings in shares of Emerson Electric Co. (NYSE:EMR) by 8.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 505,143 shares of the industrial products company’s stock after selling 49,209 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.09% of Emerson Electric worth $57,293,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in EMR. Morgan Stanley lifted its stake in Emerson Electric by 7.9% in the third quarter. Morgan Stanley now owns 13,750,393 shares of the industrial products company’s stock valued at $1,327,876,000 after buying an additional 1,008,294 shares during the last quarter. Wellington Management Group LLP lifted its stake in Emerson Electric by 12.5% in the fourth quarter. Wellington Management Group LLP now owns 13,435,524 shares of the industrial products company’s stock valued at $1,307,680,000 after buying an additional 1,488,948 shares during the last quarter. Wells Fargo & Company MN lifted its stake in Emerson Electric by 0.6% in the fourth quarter. Wells Fargo & Company MN now owns 10,654,285 shares of the industrial products company’s stock valued at $1,036,982,000 after buying an additional 62,105 shares during the last quarter. Norges Bank purchased a new stake in Emerson Electric in the fourth quarter valued at approximately $764,604,000. Finally, Nordea Investment Management AB lifted its stake in Emerson Electric by 26.5% in the fourth quarter. Nordea Investment Management AB now owns 7,447,248 shares of the industrial products company’s stock valued at $723,873,000 after buying an additional 1,558,903 shares during the last quarter. Hedge funds and other institutional investors own 74.30% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on EMR. Barclays boosted their price objective on Emerson Electric from $105.00 to $110.00 and gave the company an “equal weight” rating in a research note on Friday, May 10th. Deutsche Bank Aktiengesellschaft upgraded Emerson Electric from a “hold” rating to a “buy” rating and upped their price target for the stock from $123.00 to $138.00 in a research note on Thursday, May 9th. Loop Capital upped their price target on Emerson Electric from $130.00 to $135.00 and gave the stock a “buy” rating in a research note on Friday, May 10th. Citigroup upped their price target on Emerson Electric from $120.00 to $133.00 and gave the stock a “buy” rating in a research note on Monday, April 8th. Finally, Wells Fargo & Company upped their price target on Emerson Electric from $133.00 to $137.00 and gave the stock an “overweight” rating in a research note on Wednesday, June 26th. Four research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $122.76.

Emerson Electric Trading Up 1.1 %

Shares of EMR stock opened at $109.27 on Wednesday. The stock has a market cap of $62.51 billion, a P/E ratio of 5.85, a P/E/G ratio of 1.88 and a beta of 1.32. 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 Co. has a fifty-two week low of $83.10 and a fifty-two week high of $116.76. The business has a fifty day simple moving average of $109.99 and a 200-day simple moving average of $105.87.

Emerson Electric (NYSE:EMR) last announced its earnings results on Wednesday, May 8th. The industrial products company reported $1.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.25 by $0.11. The company had revenue of $4.38 billion during the quarter, compared to analysts’ expectations of $4.29 billion. Emerson Electric had a net margin of 64.97% and a return on equity of 11.14%. The firm’s quarterly revenue was up 16.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.09 earnings per share. On average, analysts forecast that Emerson Electric Co. will post 5.47 earnings per share for the current fiscal year.

Emerson Electric Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 10th. Stockholders of record on Friday, May 17th were given a $0.525 dividend. The ex-dividend date was Thursday, May 16th. This represents a $2.10 annualized dividend and a dividend yield of 1.92%. 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.