Bradley Foster & Sargent Inc. CT Lowers Stake in Emerson Electric Co. (NYSE:EMR)

Bradley Foster & Sargent Inc. CT reduced its position in shares of Emerson Electric Co. (NYSE:EMR) by 1.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 33,994 shares of the industrial products company’s stock after selling 668 shares during the quarter. Bradley Foster & Sargent Inc. CT’s holdings in Emerson Electric were worth $3,745,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the company. L & S Advisors Inc acquired a new position in shares of Emerson Electric during the 2nd quarter worth about $2,393,000. Axxcess Wealth Management LLC raised its position in shares of Emerson Electric by 8.6% during the 2nd quarter. Axxcess Wealth Management LLC now owns 48,596 shares of the industrial products company’s stock worth $5,353,000 after purchasing an additional 3,840 shares during the last quarter. Connors Investor Services Inc. raised its position in shares of Emerson Electric by 3.9% during the 2nd quarter. Connors Investor Services Inc. now owns 133,408 shares of the industrial products company’s stock worth $14,696,000 after purchasing an additional 5,067 shares during the last quarter. Perennial Investment Advisors LLC acquired a new position in shares of Emerson Electric during the 2nd quarter worth about $226,000. Finally, Moors & Cabot Inc. raised its position in shares of Emerson Electric by 80.7% during the 2nd quarter. Moors & Cabot Inc. now owns 93,122 shares of the industrial products company’s stock worth $10,258,000 after purchasing an additional 41,579 shares during the last quarter. 74.30% of the stock is owned by hedge funds and other institutional investors.

Emerson Electric Stock Performance

NYSE:EMR opened at $103.70 on Thursday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.86 and a current ratio of 1.16. The stock has a market capitalization of $59.33 billion, a P/E ratio of 5.55, a PEG ratio of 1.66 and a beta of 1.30. The company has a 50 day moving average price of $107.39 and a 200 day moving average price of $109.50. Emerson Electric Co. has a fifty-two week low of $83.10 and a fifty-two week high of $119.53.

Emerson Electric (NYSE:EMR) last posted its quarterly earnings data on Wednesday, August 7th. The industrial products company reported $1.43 earnings per share for the quarter, topping analysts’ consensus estimates of $1.42 by $0.01. The firm had revenue of $4.38 billion during the quarter, compared to analysts’ expectations of $4.44 billion. Emerson Electric had a net margin of 10.12% and a return on equity of 11.41%. The firm’s quarterly revenue was up 11.0% on a year-over-year basis. During the same quarter last year, the company posted $1.29 EPS. Equities research analysts forecast that Emerson Electric Co. will post 5.48 EPS for the current year.

Emerson Electric Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Friday, August 16th were given a dividend of $0.525 per share. The ex-dividend date of this dividend was Friday, August 16th. This represents a $2.10 dividend on an annualized basis and a dividend yield of 2.03%. Emerson Electric’s payout ratio is currently 11.24%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on EMR shares. Wells Fargo & Company reduced their price target on shares of Emerson Electric from $137.00 to $128.00 and set an “overweight” rating for the company in a research report on Thursday, August 8th. Barclays cut their price objective on shares of Emerson Electric from $110.00 to $103.00 and set an “equal weight” rating for the company in a report on Thursday, August 8th. Royal Bank of Canada cut their price objective on shares of Emerson Electric from $140.00 to $139.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. JPMorgan Chase & Co. downgraded shares of Emerson Electric from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $132.00 to $115.00 in a report on Wednesday, August 14th. Finally, Oppenheimer cut their price objective on shares of Emerson Electric from $125.00 to $120.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $124.29.

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.