Prio Wealth Limited Partnership Has $5.16 Million Stock Position in Emerson Electric Co. (NYSE:EMR)

Prio Wealth Limited Partnership decreased its holdings in shares of Emerson Electric Co. (NYSE:EMR) by 9.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 46,865 shares of the industrial products company’s stock after selling 4,624 shares during the quarter. Prio Wealth Limited Partnership’s holdings in Emerson Electric were worth $5,163,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in EMR. Heritage Wealth Management Inc. acquired a new stake in Emerson Electric in the 2nd quarter worth approximately $1,074,000. Sanctuary Advisors LLC acquired a new stake in shares of Emerson Electric in the second quarter worth $22,146,000. Aurora Investment Counsel boosted its holdings in shares of Emerson Electric by 0.9% during the 2nd quarter. Aurora Investment Counsel now owns 19,881 shares of the industrial products company’s stock worth $2,190,000 after buying an additional 176 shares during the period. Cetera Investment Advisers grew its stake in Emerson Electric by 17.6% in the 2nd quarter. Cetera Investment Advisers now owns 229,476 shares of the industrial products company’s stock valued at $25,279,000 after buying an additional 34,381 shares during the last quarter. Finally, Truist Financial Corp raised its holdings in Emerson Electric by 9.5% in the 2nd quarter. Truist Financial Corp now owns 977,435 shares of the industrial products company’s stock worth $107,674,000 after acquiring an additional 85,083 shares during the period. Institutional investors and hedge funds own 74.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on EMR. Wells Fargo & Company lowered their price target on Emerson Electric from $137.00 to $128.00 and set an “overweight” rating on the stock in a research report on Thursday, August 8th. Barclays dropped their price target on Emerson Electric from $110.00 to $103.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 8th. Morgan Stanley started coverage on Emerson Electric in a research report on Friday, September 6th. They issued an “underweight” rating and a $105.00 price objective for the company. Oppenheimer upped their target price on shares of Emerson Electric from $120.00 to $125.00 and gave the company an “outperform” rating in a research note on Thursday, September 26th. Finally, StockNews.com lowered shares of Emerson Electric from a “buy” rating to a “hold” rating in a research report on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $124.59.

Emerson Electric Stock Performance

Shares of NYSE:EMR opened at $109.25 on Wednesday. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.16 and a quick ratio of 0.86. The business’s fifty day moving average price is $105.65 and its two-hundred day moving average price is $109.31. Emerson Electric Co. has a fifty-two week low of $83.10 and a fifty-two week high of $119.53. The stock has a market capitalization of $62.50 billion, a price-to-earnings ratio of 5.85, a price-to-earnings-growth ratio of 1.74 and a beta of 1.30.

Emerson Electric (NYSE:EMR) last released its quarterly earnings results on Wednesday, August 7th. The industrial products company reported $1.43 earnings per share for the quarter, beating 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 return on equity of 11.41% and a net margin of 10.12%. The business’s revenue was up 11.0% on a year-over-year basis. During the same period last year, the firm posted $1.29 EPS. As a group, analysts predict that Emerson Electric Co. will post 5.48 EPS for the current fiscal year.

Emerson Electric Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Friday, August 16th were issued a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a yield of 1.92%. The ex-dividend date was Friday, August 16th. Emerson Electric’s dividend payout ratio is currently 11.24%.

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.