Panagora Asset Management Inc. Has $698,000 Position in Emerson Electric Co. (NYSE:EMR)

Panagora Asset Management Inc. decreased its holdings in shares of Emerson Electric Co. (NYSE:EMR) by 24.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,340 shares of the industrial products company’s stock after selling 2,085 shares during the quarter. Panagora Asset Management Inc.’s holdings in Emerson Electric were worth $698,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Thrive Wealth Management LLC grew its stake in shares of Emerson Electric by 4.1% in the second quarter. Thrive Wealth Management LLC now owns 2,319 shares of the industrial products company’s stock worth $255,000 after acquiring an additional 91 shares during the last quarter. Catalyst Financial Partners LLC grew its position in Emerson Electric by 3.7% in the 2nd quarter. Catalyst Financial Partners LLC now owns 2,609 shares of the industrial products company’s stock worth $287,000 after purchasing an additional 94 shares during the last quarter. PFG Advisors raised its position in shares of Emerson Electric by 3.8% during the first quarter. PFG Advisors now owns 2,591 shares of the industrial products company’s stock valued at $294,000 after buying an additional 96 shares during the last quarter. Unison Advisors LLC lifted its stake in shares of Emerson Electric by 0.5% in the second quarter. Unison Advisors LLC now owns 21,016 shares of the industrial products company’s stock valued at $2,315,000 after buying an additional 96 shares during the period. Finally, Lake Street Private Wealth LLC grew its position in Emerson Electric by 2.3% during the first quarter. Lake Street Private Wealth LLC now owns 4,412 shares of the industrial products company’s stock worth $500,000 after buying an additional 99 shares in the last quarter. Institutional investors and hedge funds own 74.30% of the company’s stock.

Analyst Upgrades and Downgrades

EMR has been the subject of a number of research reports. Wells Fargo & Company reduced their price objective on Emerson Electric from $137.00 to $128.00 and set an “overweight” rating for the company in a research report on Thursday, August 8th. Barclays reduced their target price on Emerson Electric from $110.00 to $103.00 and set an “equal weight” rating for the company in a research report on Thursday, August 8th. Redburn Atlantic started coverage on shares of Emerson Electric in a report on Monday, July 8th. They issued a “buy” rating and a $135.00 price target on the stock. Robert W. Baird raised their price objective on shares of Emerson Electric from $116.00 to $117.00 and gave the stock a “neutral” rating in a report on Thursday, August 8th. Finally, Mizuho upped their target price on shares of Emerson Electric from $130.00 to $135.00 and gave the company a “buy” rating in a research note on Thursday, May 9th. Five research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $125.18.

Emerson Electric Stock Up 1.2 %

Shares of NYSE EMR opened at $105.39 on Tuesday. Emerson Electric Co. has a 12-month low of $83.10 and a 12-month high of $119.53. The firm’s 50-day simple moving average is $109.32 and its 200 day simple moving average is $109.94. The company has a quick ratio of 0.86, a current ratio of 1.16 and a debt-to-equity ratio of 0.27. The company has a market cap of $60.29 billion, a price-to-earnings ratio of 5.64, a price-to-earnings-growth ratio of 1.75 and a beta of 1.32.

Emerson Electric (NYSE:EMR) last released its quarterly earnings results on Wednesday, August 7th. The industrial products company reported $1.43 EPS for the quarter, beating the consensus estimate of $1.42 by $0.01. Emerson Electric had a net margin of 10.12% and a return on equity of 11.41%. The business had revenue of $4.38 billion for the quarter, compared to analysts’ expectations of $4.44 billion. During the same period in the prior year, the firm earned $1.29 earnings per share. Emerson Electric’s revenue was up 11.0% compared to the same quarter last year. On average, research analysts expect that Emerson Electric Co. will post 5.48 earnings per share for the current fiscal year.

Emerson Electric Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Friday, August 16th will be given a $0.525 dividend. The ex-dividend date is Friday, August 16th. This represents a $2.10 dividend on an annualized basis and a yield of 1.99%. Emerson Electric’s payout ratio is 11.24%.

Emerson Electric Company 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.