AdvisorNet Financial Inc Reduces Holdings in Emerson Electric Co. (NYSE:EMR)

AdvisorNet Financial Inc decreased its holdings in shares of Emerson Electric Co. (NYSE:EMR) by 7.5% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 1,522 shares of the industrial products company’s stock after selling 124 shares during the period. AdvisorNet Financial Inc’s holdings in Emerson Electric were worth $168,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of EMR. Accordant Advisory Group Inc acquired a new stake in shares of Emerson Electric during the first quarter worth about $29,000. Security National Bank acquired a new stake in shares of Emerson Electric during the fourth quarter worth about $29,000. Cape Investment Advisory Inc. lifted its holdings in shares of Emerson Electric by 148.0% during the fourth quarter. Cape Investment Advisory Inc. now owns 315 shares of the industrial products company’s stock worth $31,000 after purchasing an additional 188 shares during the period. Transcendent Capital Group LLC acquired a new stake in shares of Emerson Electric during the first quarter worth about $31,000. Finally, Burkett Financial Services LLC acquired a new stake in shares of Emerson Electric during the fourth quarter worth about $32,000. Hedge funds and other institutional investors own 74.30% of the company’s stock.

Emerson Electric Price Performance

Shares of EMR traded up $0.98 during trading hours on Thursday, hitting $104.47. 2,156,856 shares of the stock were exchanged, compared to its average volume of 2,691,619. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.87 and a current ratio of 1.18. The stock’s 50-day moving average price is $110.31 and its two-hundred day moving average price is $109.40. The company has a market cap of $59.77 billion, a price-to-earnings ratio of 5.54, a price-to-earnings-growth ratio of 1.93 and a beta of 1.32. Emerson Electric Co. has a 12-month low of $83.10 and a 12-month high of $119.53.

Emerson Electric (NYSE:EMR) last issued its earnings results on Wednesday, August 7th. The industrial products company reported $1.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.42 by $0.01. The company 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 11.14% and a net margin of 64.97%. The firm’s quarterly revenue was up 11.0% on a year-over-year basis. During the same period in the prior year, the business earned $1.29 EPS. Research analysts expect that Emerson Electric Co. will post 5.47 earnings per share for the current year.

Emerson Electric Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Friday, August 16th will be issued a $0.525 dividend. This represents a $2.10 annualized dividend and a yield of 2.01%. The ex-dividend date is Friday, August 16th. Emerson Electric’s payout ratio is currently 11.24%.

Analyst Ratings Changes

A number of brokerages have issued reports on EMR. Redburn Atlantic began coverage on Emerson Electric in a report on Monday, July 8th. They issued a “buy” rating and a $135.00 price target for the company. Mizuho boosted their price target on Emerson Electric from $130.00 to $135.00 and gave the company a “buy” rating in a report on Thursday, May 9th. Oppenheimer decreased their price target on Emerson Electric from $125.00 to $120.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. JPMorgan Chase & Co. downgraded Emerson Electric from an “overweight” rating to a “neutral” rating and decreased their price target for the company from $132.00 to $115.00 in a report on Wednesday. Finally, Wells Fargo & Company decreased their price target on Emerson Electric from $137.00 to $128.00 and set an “overweight” rating for the company in a report on Thursday, August 8th. Five analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat, Emerson Electric presently has a consensus rating of “Moderate Buy” and a consensus price target of $124.33.

Emerson Electric 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.