Washington Capital Management Inc. Has $1.24 Million Stake in Emerson Electric Co. (NYSE:EMR)

Washington Capital Management Inc. raised its stake in shares of Emerson Electric Co. (NYSE:EMR) by 13.8% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 11,315 shares of the industrial products company’s stock after purchasing an additional 1,375 shares during the period. Emerson Electric makes up approximately 1.0% of Washington Capital Management Inc.’s portfolio, making the stock its 18th biggest holding. Washington Capital Management Inc.’s holdings in Emerson Electric were worth $1,238,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in EMR. Transcendent Capital Group LLC acquired a new position in Emerson Electric during the 1st quarter valued at about $31,000. Meeder Asset Management Inc. boosted its stake in Emerson Electric by 361.5% during the 2nd quarter. Meeder Asset Management Inc. now owns 300 shares of the industrial products company’s stock valued at $33,000 after purchasing an additional 235 shares during the last quarter. Tributary Capital Management LLC acquired a new position in Emerson Electric during the 1st quarter valued at about $35,000. Rise Advisors LLC bought a new position in shares of Emerson Electric during the 1st quarter worth approximately $36,000. Finally, Versant Capital Management Inc lifted its position in shares of Emerson Electric by 471.9% during the 2nd quarter. Versant Capital Management Inc now owns 326 shares of the industrial products company’s stock worth $36,000 after buying an additional 269 shares in the last quarter. Institutional investors and hedge funds own 74.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on EMR shares. JPMorgan Chase & Co. cut shares of Emerson Electric from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $132.00 to $115.00 in a research report on Wednesday, August 14th. Robert W. Baird lifted their target price on shares of Emerson Electric from $116.00 to $117.00 and gave the stock a “neutral” rating in a research report on Thursday, August 8th. Royal Bank of Canada dropped their target price on shares of Emerson Electric from $140.00 to $139.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. Oppenheimer lifted their target price on shares of Emerson Electric from $120.00 to $125.00 and gave the stock an “outperform” rating in a research report on Thursday, September 26th. Finally, Morgan Stanley initiated coverage on shares of Emerson Electric in a report on Friday, September 6th. They issued an “underweight” rating and a $105.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $124.59.

Emerson Electric Stock Performance

EMR stock traded down $2.80 during midday trading on Tuesday, reaching $109.84. 1,326,788 shares of the company’s stock traded hands, compared to its average volume of 2,711,308. The company has a 50-day moving average price of $105.15 and a two-hundred day moving average price of $109.24. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.86 and a current ratio of 1.16. Emerson Electric Co. has a 52 week low of $83.10 and a 52 week high of $119.53. The firm has a market capitalization of $62.84 billion, a PE ratio of 6.03, a price-to-earnings-growth ratio of 1.70 and a beta of 1.30.

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 analysts’ consensus estimates of $1.42 by $0.01. The firm had revenue of $4.38 billion during the quarter, compared to analyst estimates of $4.44 billion. Emerson Electric had a net margin of 10.12% and a return on equity of 11.41%. The business’s revenue for the quarter was up 11.0% on a year-over-year basis. During the same period in the previous year, the business earned $1.29 EPS. As a group, equities analysts anticipate that Emerson Electric Co. will post 5.48 EPS for the current year.

Emerson Electric Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Friday, August 16th were given a dividend of $0.525 per share. The ex-dividend date was Friday, August 16th. This represents a $2.10 dividend on an annualized basis and a dividend yield of 1.91%. Emerson Electric’s dividend payout ratio (DPR) 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.