SouthState Corp Sells 228 Shares of Emerson Electric Co. (NYSE:EMR)

SouthState Corp trimmed its stake in shares of Emerson Electric Co. (NYSE:EMR) by 0.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 48,227 shares of the industrial products company’s stock after selling 228 shares during the quarter. SouthState Corp’s holdings in Emerson Electric were worth $5,977,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in EMR. Stephens Consulting LLC bought a new position in shares of Emerson Electric during the fourth quarter worth about $25,000. Sugar Maple Asset Management LLC bought a new stake in Emerson Electric in the fourth quarter worth approximately $27,000. Darwin Wealth Management LLC bought a new stake in Emerson Electric in the third quarter worth approximately $29,000. YANKCOM Partnership bought a new stake in Emerson Electric in the fourth quarter worth approximately $30,000. Finally, Frazier Financial Advisors LLC bought a new stake in Emerson Electric in the third quarter worth approximately $33,000. 74.30% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

EMR has been the subject of a number of research analyst reports. Daiwa Capital Markets initiated coverage on Emerson Electric in a report on Tuesday, January 28th. They issued an “outperform” rating and a $147.00 target price for the company. Wells Fargo & Company raised their price objective on Emerson Electric from $140.00 to $142.00 and gave the company an “overweight” rating in a research note on Thursday, February 6th. KeyCorp raised their price objective on Emerson Electric from $140.00 to $158.00 and gave the company an “overweight” rating in a research note on Monday, December 9th. Morgan Stanley raised their price objective on Emerson Electric from $105.00 to $112.00 and gave the company an “underweight” rating in a research note on Thursday, February 6th. Finally, JPMorgan Chase & Co. reduced their price objective on Emerson Electric from $137.00 to $135.00 and set a “neutral” rating for the company in a research note on Wednesday, January 15th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $136.28.

Emerson Electric Stock Performance

Shares of Emerson Electric stock opened at $112.11 on Monday. The business’s fifty day simple moving average is $122.37 and its 200 day simple moving average is $118.96. The firm has a market capitalization of $63.22 billion, a P/E ratio of 26.76, a price-to-earnings-growth ratio of 2.49 and a beta of 1.36. Emerson Electric Co. has a 12 month low of $96.62 and a 12 month high of $134.85. The company has a current ratio of 1.54, a quick ratio of 1.17 and a debt-to-equity ratio of 0.25.

Emerson Electric (NYSE:EMR) last issued its quarterly earnings results on Wednesday, February 5th. The industrial products company reported $1.38 EPS for the quarter, topping analysts’ consensus estimates of $1.28 by $0.10. Emerson Electric had a return on equity of 12.08% and a net margin of 13.74%. As a group, analysts anticipate that Emerson Electric Co. will post 5.96 EPS for the current year.

Emerson Electric Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Friday, February 14th were issued a dividend of $0.5275 per share. The ex-dividend date was Friday, February 14th. This represents a $2.11 dividend on an annualized basis and a yield of 1.88%. Emerson Electric’s dividend payout ratio (DPR) is currently 50.36%.

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.