Avantax Planning Partners Inc. Cuts Position in Emerson Electric Co. (NYSE:EMR)

Avantax Planning Partners Inc. reduced its position in shares of Emerson Electric Co. (NYSE:EMR) by 39.5% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 7,792 shares of the industrial products company’s stock after selling 5,088 shares during the quarter. Avantax Planning Partners Inc.’s holdings in Emerson Electric were worth $758,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Norges Bank bought a new position in Emerson Electric in the fourth quarter worth approximately $764,604,000. Adage Capital Partners GP L.L.C. raised its stake in shares of Emerson Electric by 255.5% during the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 2,803,881 shares of the industrial products company’s stock valued at $270,771,000 after buying an additional 2,015,232 shares during the last quarter. Nordea Investment Management AB lifted its holdings in Emerson Electric by 26.5% in the fourth quarter. Nordea Investment Management AB now owns 7,447,248 shares of the industrial products company’s stock valued at $723,873,000 after acquiring an additional 1,558,903 shares during the period. Schroder Investment Management Group increased its holdings in Emerson Electric by 211.7% in the third quarter. Schroder Investment Management Group now owns 2,003,099 shares of the industrial products company’s stock valued at $193,439,000 after buying an additional 1,360,477 shares in the last quarter. Finally, Invesco Ltd. raised its holdings in Emerson Electric by 16.9% in the 3rd quarter. Invesco Ltd. now owns 8,199,836 shares of the industrial products company’s stock worth $791,858,000 after purchasing an additional 1,184,202 shares during the period. 74.30% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have commented on EMR shares. Deutsche Bank Aktiengesellschaft upgraded Emerson Electric from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $123.00 to $138.00 in a research note on Thursday, May 9th. Citigroup increased their price objective on shares of Emerson Electric from $120.00 to $133.00 and gave the stock a “buy” rating in a research report on Monday, April 8th. Berenberg Bank lifted their price objective on shares of Emerson Electric from $100.00 to $130.00 and gave the company a “buy” rating in a report on Wednesday, March 6th. Robert W. Baird reduced their price target on Emerson Electric from $120.00 to $116.00 and set a “neutral” rating on the stock in a research report on Thursday, May 9th. Finally, Bank of America lifted their price objective on shares of Emerson Electric from $120.00 to $130.00 and gave the stock a “buy” rating in a research report on Monday, March 4th. Four research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $120.56.

Emerson Electric Trading Up 0.8 %

NYSE:EMR traded up $0.93 on Friday, reaching $113.42. The stock had a trading volume of 1,345,232 shares, compared to its average volume of 3,333,393. The firm’s fifty day moving average is $111.82 and its two-hundred day moving average is $101.99. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.18 and a quick ratio of 0.87. The company has a market cap of $64.89 billion, a price-to-earnings ratio of 6.07, a P/E/G ratio of 1.88 and a beta of 1.36. Emerson Electric Co. has a 12-month low of $76.94 and a 12-month high of $116.76.

Emerson Electric (NYSE:EMR) last posted its quarterly earnings results on Wednesday, May 8th. The industrial products company reported $1.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.25 by $0.11. Emerson Electric had a return on equity of 11.14% and a net margin of 64.97%. The firm had revenue of $4.38 billion during the quarter, compared to the consensus estimate of $4.29 billion. During the same quarter in the previous year, the business earned $1.09 earnings per share. The firm’s quarterly revenue was up 16.5% compared to the same quarter last year. Equities analysts expect that Emerson Electric Co. will post 5.47 EPS for the current fiscal year.

Emerson Electric Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Friday, May 17th will be paid a dividend of $0.525 per share. The ex-dividend date is Thursday, May 16th. This represents a $2.10 dividend on an annualized basis and a dividend yield of 1.85%. Emerson Electric’s dividend payout ratio is currently 11.24%.

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.