Allworth Financial LP Has $1.80 Million Stock Holdings in Emerson Electric Co. (NYSE:EMR)

Posted by on Mar 23rd, 2023

Allworth Financial LP boosted its holdings in shares of Emerson Electric Co. (NYSE:EMR – Get Rating) by 13.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 18,706 shares of the industrial products company’s stock after buying an additional 2,200 shares during the quarter. Allworth Financial LP’s holdings in Emerson Electric were worth $1,797,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in EMR. Western Pacific Wealth Management LP acquired a new stake in shares of Emerson Electric in the third quarter valued at about $26,000. Certified Advisory Corp acquired a new stake in shares of Emerson Electric in the first quarter valued at about $34,000. SJS Investment Consulting Inc. acquired a new stake in shares of Emerson Electric in the third quarter valued at about $42,000. Legacy Bridge LLC grew its position in shares of Emerson Electric by 37.1% in the fourth quarter. Legacy Bridge LLC now owns 521 shares of the industrial products company’s stock valued at $50,000 after purchasing an additional 141 shares during the last quarter. Finally, Fred Alger Management LLC bought a new stake in shares of Emerson Electric in the third quarter valued at about $53,000. 71.64% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently weighed in on EMR. TheStreet cut shares of Emerson Electric from a “b+” rating to a “c+” rating in a research note on Wednesday, February 8th. UBS Group upgraded shares of Emerson Electric from a “neutral” rating to a “buy” rating and reduced their target price for the company from $100.00 to $97.00 in a research note on Monday, March 6th. Mizuho increased their target price on shares of Emerson Electric from $86.00 to $103.00 and gave the company a “neutral” rating in a research note on Wednesday, November 30th. Morgan Stanley upgraded shares of Emerson Electric from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $95.00 to $96.00 in a research note on Tuesday. Finally, StockNews.com began coverage on shares of Emerson Electric in a research note on Thursday, March 16th. They issued a “hold” rating for the company. Eight research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, Emerson Electric currently has an average rating of “Hold” and a consensus price target of $98.64.

Emerson Electric Price Performance

EMR opened at $83.40 on Thursday. The company has a fifty day moving average price of $86.68 and a two-hundred day moving average price of $87.67. The firm has a market capitalization of $47.65 billion, a PE ratio of 10.58, a P/E/G ratio of 2.34 and a beta of 1.39. Emerson Electric Co. has a 52 week low of $72.40 and a 52 week high of $100.00. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.86 and a current ratio of 1.10.

Emerson Electric (NYSE:EMR – Get Rating) last posted its quarterly earnings data on Wednesday, February 8th. The industrial products company reported $0.78 EPS for the quarter, missing the consensus estimate of $0.88 by ($0.10). Emerson Electric had a net margin of 25.18% and a return on equity of 19.79%. The company had revenue of $3.37 billion during the quarter, compared to the consensus estimate of $3.43 billion. During the same period in the prior year, the firm posted $1.05 earnings per share. The company’s revenue was up 6.9% compared to the same quarter last year. As a group, analysts anticipate that Emerson Electric Co. will post 4.07 earnings per share for the current year.

Emerson Electric Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 10th. Investors of record on Friday, February 17th were given a dividend of $0.52 per share. The ex-dividend date of this dividend was Thursday, February 16th. This represents a $2.08 annualized dividend and a dividend yield of 2.49%. Emerson Electric’s dividend payout ratio is 26.40%.

Emerson Electric Company Profile

(Get Rating)

Emerson Electric Co is a global technology and engineering company, which designs and manufactures products and delivers services that bring technology and engineering together to provide innovative solutions for customers in a wide range of industrial, commercial, and consumer markets. It operates through the following segments: Automation Solutions, AspenTech, Commercial and Residential Solutions, Climate Technologies, and Tools and Home Products.

Read More

Want to see what other hedge funds are holding EMR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Emerson Electric Co. (NYSE:EMR – Get Rating).

Institutional Ownership by Quarter for Emerson Electric (NYSE:EMR)

Receive News & Ratings for Emerson Electric Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Emerson Electric and related companies with MarketBeat.com's FREE daily email newsletter.