Summit Financial Wealth Advisors LLC Makes New Investment in Emerson Electric Co. (NYSE:EMR)

Summit Financial Wealth Advisors LLC purchased a new position in Emerson Electric Co. (NYSE:EMR) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 2,000 shares of the industrial products company’s stock, valued at approximately $227,000.

A number of other large investors also recently modified their holdings of EMR. Lazard Asset Management LLC bought a new position in shares of Emerson Electric in the 3rd quarter worth about $1,768,000. Royal London Asset Management Ltd. lifted its position in Emerson Electric by 2.3% in the 3rd quarter. Royal London Asset Management Ltd. now owns 236,896 shares of the industrial products company’s stock valued at $22,895,000 after purchasing an additional 5,437 shares during the last quarter. iA Global Asset Management Inc. bought a new stake in Emerson Electric in the 3rd quarter valued at about $2,075,000. Toroso Investments LLC lifted its position in Emerson Electric by 107.3% in the 3rd quarter. Toroso Investments LLC now owns 34,477 shares of the industrial products company’s stock valued at $3,329,000 after purchasing an additional 17,845 shares during the last quarter. Finally, WealthPlan Investment Management LLC bought a new stake in Emerson Electric in the 3rd quarter valued at about $347,000. 74.30% of the stock is currently owned by institutional investors.

Emerson Electric Stock Up 0.5 %

NYSE EMR traded up $0.52 during trading on Monday, reaching $109.98. The company’s stock had a trading volume of 1,510,752 shares, compared to its average volume of 2,663,276. The company has a current ratio of 1.18, a quick ratio of 0.87 and a debt-to-equity ratio of 0.28. The stock has a market capitalization of $62.92 billion, a PE ratio of 5.88, a PEG ratio of 1.87 and a beta of 1.32. Emerson Electric Co. has a 1-year low of $83.10 and a 1-year high of $116.76. The business has a 50-day moving average price of $109.97 and a 200-day moving average price of $106.26.

Emerson Electric (NYSE:EMR) last posted its earnings results on Wednesday, May 8th. The industrial products company reported $1.36 EPS for the quarter, topping the consensus estimate of $1.25 by $0.11. The company had revenue of $4.38 billion during the quarter, compared to the consensus estimate of $4.29 billion. Emerson Electric had a net margin of 64.97% and a return on equity of 11.14%. The company’s revenue for the quarter was up 16.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.09 earnings per share. On average, research 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 announced a quarterly dividend, which was paid on Monday, June 10th. Shareholders of record on Friday, May 17th were given a $0.525 dividend. This represents a $2.10 annualized dividend and a yield of 1.91%. The ex-dividend date was Thursday, May 16th. Emerson Electric’s dividend payout ratio is 11.24%.

Wall Street Analysts Forecast Growth

EMR has been the topic of several recent research reports. Deutsche Bank Aktiengesellschaft upgraded shares of Emerson Electric from a “hold” rating to a “buy” rating and lifted their price objective for the company from $123.00 to $138.00 in a research report on Thursday, May 9th. StockNews.com downgraded shares of Emerson Electric from a “buy” rating to a “hold” rating in a research report on Friday, May 17th. Robert W. Baird dropped their price target on shares of Emerson Electric from $120.00 to $116.00 and set a “neutral” rating on the stock in a research report on Thursday, May 9th. Barclays boosted their price target on shares of Emerson Electric from $105.00 to $110.00 and gave the stock an “equal weight” rating in a research report on Friday, May 10th. Finally, Citigroup lifted their price objective on shares of Emerson Electric from $120.00 to $133.00 and gave the stock a “buy” rating in a research note on Monday, April 8th. Four analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $123.44.

About Emerson Electric

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.