1620 Investment Advisors Inc. Takes $274,000 Position in Emerson Electric Co. (NYSE:EMR)

1620 Investment Advisors Inc. purchased a new position in shares of Emerson Electric Co. (NYSE:EMR) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 2,489 shares of the industrial products company’s stock, valued at approximately $274,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Wellington Management Group LLP raised its stake in Emerson Electric by 12.5% in the 4th 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 purchasing an additional 1,488,948 shares during the last quarter. Wells Fargo & Company MN lifted its stake in Emerson Electric by 0.6% in the 4th quarter. Wells Fargo & Company MN now owns 10,654,285 shares of the industrial products company’s stock worth $1,036,982,000 after purchasing an additional 62,105 shares in the last quarter. Norges Bank purchased a new position in Emerson Electric during the fourth quarter worth approximately $764,604,000. Charles Schwab Investment Management Inc. grew its holdings in Emerson Electric by 2.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,174,088 shares of the industrial products company’s stock valued at $308,934,000 after buying an additional 60,990 shares in the last quarter. Finally, First Trust Advisors LP raised its holdings 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 worth $253,216,000 after acquiring an additional 1,786,583 shares during the period. 74.30% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

EMR has been the subject of several analyst reports. Deutsche Bank Aktiengesellschaft raised shares of Emerson Electric from a “hold” rating to a “buy” rating and increased their price target for the company from $123.00 to $138.00 in a research note on Thursday, May 9th. Barclays reduced their price target on shares of Emerson Electric from $110.00 to $103.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 8th. JPMorgan Chase & Co. cut shares of Emerson Electric from an “overweight” rating to a “neutral” rating and lowered their price objective for the stock from $132.00 to $115.00 in a research report on Wednesday, August 14th. Wells Fargo & Company decreased their price target on Emerson Electric from $137.00 to $128.00 and set an “overweight” rating on the stock in a research note on Thursday, August 8th. Finally, Royal Bank of Canada dropped their price objective on Emerson Electric from $140.00 to $139.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. Five research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $124.33.

Emerson Electric Stock Performance

NYSE EMR traded up $0.34 during trading hours on Thursday, hitting $104.36. 2,407,699 shares of the stock were exchanged, compared to its average volume of 2,691,960. The company has a quick ratio of 0.87, a current ratio of 1.18 and a debt-to-equity ratio of 0.28. The company has a market cap of $59.70 billion, a price-to-earnings ratio of 5.58, a price-to-earnings-growth ratio of 1.93 and a beta of 1.32. Emerson Electric Co. has a 12-month low of $83.10 and a 12-month high of $119.53. The stock has a 50-day moving average of $109.82 and a 200 day moving average of $109.71.

Emerson Electric (NYSE:EMR) last issued its earnings results on Wednesday, August 7th. The industrial products company reported $1.43 earnings per share for the quarter, topping the consensus estimate of $1.42 by $0.01. Emerson Electric had a net margin of 64.97% and a return on equity of 11.14%. The company had revenue of $4.38 billion for the quarter, compared to analyst estimates of $4.44 billion. During the same period in the prior year, the business posted $1.29 earnings per share. The firm’s revenue for the quarter was up 11.0% compared to the same quarter last year. As a group, equities research analysts forecast that Emerson Electric Co. will post 5.47 earnings per share for the current year.

Emerson Electric Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Friday, August 16th will be given a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a dividend yield of 2.01%. The ex-dividend date is Friday, August 16th. Emerson Electric’s dividend payout ratio is presently 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.