Atlantic Union Bankshares Corp Boosts Stake in Emerson Electric Co. $EMR

Atlantic Union Bankshares Corp raised its holdings in shares of Emerson Electric Co. (NYSE:EMR) by 34.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 23,758 shares of the industrial products company’s stock after buying an additional 6,151 shares during the period. Atlantic Union Bankshares Corp’s holdings in Emerson Electric were worth $3,168,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in EMR. Nuveen LLC bought a new stake in shares of Emerson Electric during the 1st quarter worth $737,318,000. Pacer Advisors Inc. lifted its stake in Emerson Electric by 4,583.7% in the 1st quarter. Pacer Advisors Inc. now owns 2,185,049 shares of the industrial products company’s stock worth $239,569,000 after acquiring an additional 2,138,397 shares in the last quarter. Alliancebernstein L.P. boosted its holdings in shares of Emerson Electric by 218.7% during the first quarter. Alliancebernstein L.P. now owns 2,468,732 shares of the industrial products company’s stock worth $270,672,000 after purchasing an additional 1,693,999 shares during the period. Nordea Investment Management AB increased its stake in Emerson Electric by 19.5% in the 2nd quarter. Nordea Investment Management AB now owns 9,195,005 shares of the industrial products company’s stock valued at $1,223,947,000 after buying an additional 1,499,000 shares during the period. Finally, Massachusetts Financial Services Co. MA boosted its stake in shares of Emerson Electric by 210.8% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 1,966,453 shares of the industrial products company’s stock valued at $215,602,000 after buying an additional 1,333,839 shares during the period. Hedge funds and other institutional investors own 74.30% of the company’s stock.

Emerson Electric Stock Performance

Emerson Electric stock opened at $129.27 on Friday. Emerson Electric Co. has a 12-month low of $90.06 and a 12-month high of $150.27. The stock has a 50-day simple moving average of $132.37 and a 200 day simple moving average of $129.56. The company has a quick ratio of 0.63, a current ratio of 0.85 and a debt-to-equity ratio of 0.42. The stock has a market capitalization of $72.75 billion, a price-to-earnings ratio of 27.80, a P/E/G ratio of 2.36 and a beta of 1.30.

Emerson Electric (NYSE:EMR) last announced its quarterly earnings data on Thursday, April 6th. The industrial products company reported $0.79 earnings per share (EPS) for the quarter. The firm had revenue of $3.16 billion for the quarter. Emerson Electric had a net margin of 14.92% and a return on equity of 14.34%. On average, research analysts anticipate that Emerson Electric Co. will post 5.96 earnings per share for the current fiscal year.

Emerson Electric declared that its Board of Directors has initiated a share buyback program on Wednesday, November 5th that authorizes the company to buyback $0.00 in outstanding shares. This buyback authorization authorizes the industrial products company to buy shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its shares are undervalued.

Emerson Electric Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 10th. Investors of record on Friday, November 14th will be issued a $0.555 dividend. This is a boost from Emerson Electric’s previous quarterly dividend of $0.53. This represents a $2.22 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date is Friday, November 14th. Emerson Electric’s dividend payout ratio is currently 45.38%.

Analyst Upgrades and Downgrades

EMR has been the subject of several research reports. Deutsche Bank Aktiengesellschaft lifted their price target on Emerson Electric from $157.00 to $159.00 and gave the company a “buy” rating in a report on Thursday, October 2nd. Weiss Ratings reissued a “buy (b-)” rating on shares of Emerson Electric in a research report on Wednesday, October 8th. Daiwa Capital Markets raised their price target on shares of Emerson Electric from $150.00 to $153.00 and gave the company an “outperform” rating in a report on Wednesday, September 24th. Wells Fargo & Company reaffirmed an “equal weight” rating and issued a $140.00 price objective (down previously from $150.00) on shares of Emerson Electric in a research note on Monday, October 6th. Finally, Jefferies Financial Group lowered their target price on shares of Emerson Electric from $160.00 to $155.00 and set a “buy” rating on the stock in a research report on Tuesday, October 7th. Two research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Emerson Electric has a consensus rating of “Moderate Buy” and an average target price of $148.61.

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.