Core Alternative Capital Trims Holdings in Emerson Electric Co. (NYSE:EMR)

Core Alternative Capital decreased its stake in shares of Emerson Electric Co. (NYSE:EMR) by 23.1% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 37,555 shares of the industrial products company’s stock after selling 11,304 shares during the period. Core Alternative Capital’s holdings in Emerson Electric were worth $4,137,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in EMR. Wellington Management Group LLP boosted its position in shares of Emerson Electric by 12.5% in the fourth quarter. Wellington Management Group LLP now owns 13,435,524 shares of the industrial products company’s stock valued at $1,307,680,000 after acquiring an additional 1,488,948 shares during the period. Newport Trust Company LLC purchased a new stake in Emerson Electric in the 2nd quarter worth approximately $574,908,000. Legal & General Group Plc boosted its holdings in Emerson Electric by 5.2% in the 2nd quarter. Legal & General Group Plc now owns 4,510,496 shares of the industrial products company’s stock valued at $496,877,000 after purchasing an additional 224,784 shares during the period. First Trust Advisors LP grew its position in shares of Emerson Electric by 219.2% during the 4th quarter. First Trust Advisors LP now owns 2,601,619 shares of the industrial products company’s stock valued at $253,216,000 after purchasing an additional 1,786,583 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Emerson Electric by 17.7% in the second quarter. Dimensional Fund Advisors LP now owns 2,358,796 shares of the industrial products company’s stock worth $259,809,000 after purchasing an additional 355,106 shares during the period. Institutional investors own 74.30% of the company’s stock.

Emerson Electric Stock Performance

Emerson Electric stock opened at $109.22 on Monday. Emerson Electric Co. has a 1-year low of $83.10 and a 1-year high of $119.53. The firm has a market cap of $62.48 billion, a P/E ratio of 5.84, a P/E/G ratio of 1.74 and a beta of 1.30. The company has a current ratio of 1.16, a quick ratio of 0.86 and a debt-to-equity ratio of 0.27. The firm has a 50-day moving average of $105.99 and a 200-day moving average of $109.32.

Emerson Electric (NYSE:EMR) last issued its quarterly earnings data on Wednesday, August 7th. The industrial products company reported $1.43 earnings per share for the quarter, topping analysts’ consensus estimates of $1.42 by $0.01. Emerson Electric had a return on equity of 11.41% and a net margin of 10.12%. The firm had revenue of $4.38 billion for the quarter, compared to analyst estimates of $4.44 billion. During the same period last year, the company earned $1.29 EPS. The business’s quarterly revenue was up 11.0% compared to the same quarter last year. Sell-side analysts expect that Emerson Electric Co. will post 5.48 EPS for the current year.

Emerson Electric Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Friday, August 16th were given a $0.525 dividend. The ex-dividend date of this dividend was Friday, August 16th. This represents a $2.10 annualized dividend and a dividend yield of 1.92%. Emerson Electric’s dividend payout ratio is 11.24%.

Analysts Set New Price Targets

Several equities analysts recently commented on EMR shares. JPMorgan Chase & Co. cut Emerson Electric from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from $132.00 to $115.00 in a research report on Wednesday, August 14th. Royal Bank of Canada cut their price objective on Emerson Electric from $140.00 to $139.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Redburn Atlantic initiated coverage on shares of Emerson Electric in a research note on Monday, July 8th. They issued a “buy” rating and a $135.00 target price on the stock. Oppenheimer lifted their target price on shares of Emerson Electric from $120.00 to $125.00 and gave the company an “outperform” rating in a research report on Thursday. Finally, Wells Fargo & Company decreased their price target on shares of Emerson Electric from $137.00 to $128.00 and set an “overweight” rating on the stock in a report on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, Emerson Electric presently has a consensus rating of “Moderate Buy” and an average target price of $124.59.

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.