First Hawaiian Bank Buys 240 Shares of Emerson Electric Co. (NYSE:EMR)

Posted by Defense World Staff on Jul 3rd, 2023

First Hawaiian Bank boosted its holdings in shares of Emerson Electric Co. (NYSE:EMR – Free Report) by 6.5% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,924 shares of the industrial products company’s stock after purchasing an additional 240 shares during the period. First Hawaiian Bank’s holdings in Emerson Electric were worth $342,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Spartan Planning & Wealth Management bought a new position in shares of Emerson Electric in the 4th quarter valued at $27,000. Glass Jacobson Investment Advisors llc acquired a new stake in Emerson Electric during the 4th quarter worth about $30,000. Resurgent Financial Advisors LLC acquired a new stake in Emerson Electric during the 4th quarter worth about $32,000. Arcus Capital Partners LLC acquired a new stake in Emerson Electric during the 4th quarter worth about $33,000. Finally, TFO TDC LLC acquired a new stake in Emerson Electric during the 4th quarter worth about $43,000. 75.63% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have weighed in on EMR shares. Wells Fargo & Company upgraded Emerson Electric from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $90.00 to $105.00 in a report on Thursday, April 20th. Loop Capital cut their price objective on shares of Emerson Electric from $115.00 to $105.00 and set a “buy” rating on the stock in a research report on Tuesday, April 11th. StockNews.com assumed coverage on shares of Emerson Electric in a research report on Thursday, March 16th. They set a “hold” rating on the stock. UBS Group raised shares of Emerson Electric from a “neutral” rating to a “buy” rating and dropped their price target for the company from $100.00 to $97.00 in a research report on Monday, March 6th. Finally, Wolfe Research raised shares of Emerson Electric from a “peer perform” rating to an “outperform” rating and set a $103.00 price target on the stock in a research report on Tuesday, April 18th. Seven research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $98.39.

Insider Activity at Emerson Electric

In other Emerson Electric news, VP Lisa Flavin sold 48,718 shares of the company’s stock in a transaction dated Tuesday, June 27th. The shares were sold at an average price of $89.65, for a total value of $4,367,568.70. Following the sale, the vice president now owns 51,748 shares in the company, valued at $4,639,208.20. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.33% of the stock is owned by corporate insiders.

Emerson Electric Stock Performance

Emerson Electric stock opened at $90.39 on Monday. The company has a quick ratio of 0.92, a current ratio of 1.19 and a debt-to-equity ratio of 0.47. The company has a market capitalization of $51.66 billion, a PE ratio of 11.12, a P/E/G ratio of 2.34 and a beta of 1.39. The firm has a fifty day simple moving average of $83.81 and a two-hundred day simple moving average of $86.71. Emerson Electric Co. has a twelve month low of $72.40 and a twelve month high of $99.65.

Emerson Electric (NYSE:EMR – Free Report) last released its quarterly earnings data on Wednesday, May 3rd. The industrial products company reported $1.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.97 by $0.12. Emerson Electric had a net margin of 27.35% and a return on equity of 16.94%. The firm had revenue of $3.76 billion for the quarter, compared to analysts’ expectations of $3.65 billion. During the same quarter in the previous year, the company earned $1.29 earnings per share. The company’s revenue for the quarter was down 21.8% compared to the same quarter last year. Research analysts expect that Emerson Electric Co. will post 4.19 EPS for the current year.

Emerson Electric Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 9th. Shareholders of record on Friday, May 12th were given a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.30%. The ex-dividend date was Thursday, May 11th. Emerson Electric’s payout ratio is 25.58%.

Emerson Electric Company Profile

(Free Report)

Emerson Electric Co, a technology and engineering company, provides various solutions for customers in industrial, commercial, and consumer markets in the Americas, Asia, the Middle East, Africa, and Europe. The company operates through Automation Solutions, AspenTech, and Commercial & Residential Solutions segments.