Swedbank AB Sells 23,634 Shares of Emerson Electric Co. (NYSE:EMR)

Swedbank AB decreased its holdings in shares of Emerson Electric Co. (NYSE:EMR) by 2.1% in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 1,119,639 shares of the industrial products company’s stock after selling 23,634 shares during the period. Swedbank AB owned approximately 0.20% of Emerson Electric worth $123,339,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Tennessee Valley Asset Management Partners acquired a new stake in Emerson Electric in the 4th quarter valued at $35,000. NewEdge Wealth LLC increased its position in shares of Emerson Electric by 16.6% in the fourth quarter. NewEdge Wealth LLC now owns 4,923 shares of the industrial products company’s stock worth $479,000 after purchasing an additional 702 shares during the period. Graypoint LLC bought a new position in Emerson Electric in the fourth quarter valued at approximately $206,000. Dakota Wealth Management raised its holdings in shares of Emerson Electric by 38.2% during the 4th quarter. Dakota Wealth Management now owns 32,897 shares of the industrial products company’s stock worth $3,202,000 after buying an additional 9,088 shares in the last quarter. Finally, Bison Wealth LLC lifted its holdings in shares of Emerson Electric by 9.5% in the fourth quarter. Bison Wealth LLC now owns 4,754 shares of the industrial products company’s stock worth $463,000 after acquiring an additional 412 shares during the last quarter. Institutional investors and hedge funds own 74.30% of the company’s stock.

Emerson Electric Price Performance

Shares of NYSE EMR traded down $1.22 during mid-day trading on Friday, hitting $103.07. 3,416,283 shares of the company’s stock traded hands, compared to its average volume of 2,703,502. The company’s 50-day moving average is $110.28 and its two-hundred day moving average is $109.36. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.18 and a quick ratio of 0.87. Emerson Electric Co. has a 1 year low of $83.10 and a 1 year high of $119.53. The company has a market capitalization of $58.97 billion, a P/E ratio of 5.50, a PEG ratio of 1.93 and a beta of 1.32.

Emerson Electric (NYSE:EMR) last issued its quarterly earnings results on Wednesday, August 7th. The industrial products company reported $1.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.42 by $0.01. The company had revenue of $4.38 billion during the quarter, compared to the consensus estimate of $4.44 billion. Emerson Electric had a return on equity of 11.14% and a net margin of 64.97%. Emerson Electric’s revenue was up 11.0% on a year-over-year basis. During the same period last year, the company earned $1.29 earnings per share. On average, equities analysts anticipate that Emerson Electric Co. will post 5.47 EPS for the current fiscal year.

Emerson Electric Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Friday, August 16th will be issued a $0.525 dividend. The ex-dividend date is Friday, August 16th. This represents a $2.10 annualized dividend and a dividend yield of 2.04%. Emerson Electric’s payout ratio is 11.24%.

Wall Street Analyst Weigh In

EMR has been the subject of several recent research reports. Robert W. Baird upped their price target on shares of Emerson Electric from $116.00 to $117.00 and gave the company a “neutral” rating in a research report on Thursday, August 8th. Wells Fargo & Company dropped their target price on shares of Emerson Electric from $137.00 to $128.00 and set an “overweight” rating on the stock in a research report on Thursday, August 8th. Royal Bank of Canada reduced their price objective on shares of Emerson Electric from $140.00 to $139.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Deutsche Bank Aktiengesellschaft upgraded Emerson Electric from a “hold” rating to a “buy” rating and raised their price objective for the company from $123.00 to $138.00 in a research note on Thursday, May 9th. Finally, Redburn Atlantic started coverage on shares of Emerson Electric in a research report on Monday, July 8th. They set a “buy” rating and a $135.00 target price on the stock. Five analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $124.33.

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.