Truist Financial Corp Lowers Position in Emerson Electric Co. (NYSE:EMR)

Truist Financial Corp lessened its position in Emerson Electric Co. (NYSE:EMR) by 4.0% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 913,027 shares of the industrial products company’s stock after selling 38,475 shares during the quarter. Truist Financial Corp’s holdings in Emerson Electric were worth $88,865,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Tobam raised its stake in Emerson Electric by 2,275.0% during the fourth quarter. Tobam now owns 285 shares of the industrial products company’s stock valued at $28,000 after buying an additional 273 shares during the last quarter. Tennessee Valley Asset Management Partners purchased a new position in Emerson Electric during the fourth quarter valued at $35,000. Morton Brown Family Wealth LLC purchased a new position in shares of Emerson Electric in the fourth quarter worth $39,000. MCF Advisors LLC raised its stake in shares of Emerson Electric by 1,484.6% in the fourth quarter. MCF Advisors LLC now owns 412 shares of the industrial products company’s stock worth $40,000 after purchasing an additional 386 shares during the last quarter. Finally, Authentikos Wealth Advisory LLC purchased a new position in shares of Emerson Electric in the third quarter worth $42,000. Hedge funds and other institutional investors own 74.30% of the company’s stock.

Insider Activity

In other news, Director Mark A. Blinn sold 2,413 shares of the firm’s stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $103.18, for a total value of $248,973.34. Following the completion of the sale, the director now directly owns 9,591 shares of the company’s stock, valued at approximately $989,599.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.25% of the company’s stock.

Emerson Electric Price Performance

Shares of NYSE:EMR traded up $0.29 during trading on Friday, hitting $109.89. 1,364,495 shares of the company’s stock were exchanged, compared to its average volume of 1,854,608. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.12 and a quick ratio of 0.80. Emerson Electric Co. has a 52-week low of $76.94 and a 52-week high of $115.26. The business’s 50-day simple moving average is $110.38 and its 200 day simple moving average is $99.28. The company has a market cap of $62.73 billion, a price-to-earnings ratio of 5.72, a PEG ratio of 1.90 and a beta of 1.37.

Emerson Electric (NYSE:EMR) last announced its quarterly earnings results on Wednesday, February 7th. The industrial products company reported $1.22 EPS for the quarter, beating analysts’ consensus estimates of $1.04 by $0.18. Emerson Electric had a return on equity of 11.59% and a net margin of 69.33%. The company had revenue of $4.12 billion during the quarter, compared to analyst estimates of $3.91 billion. During the same period in the prior year, the company earned $0.78 earnings per share. The firm’s revenue was up 22.1% on a year-over-year basis. As a group, equities analysts predict that Emerson Electric Co. will post 5.4 EPS for the current year.

Emerson Electric Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 11th. Stockholders of record on Friday, February 16th were paid a $0.525 dividend. This represents a $2.10 annualized dividend and a dividend yield of 1.91%. The ex-dividend date of this dividend was Thursday, February 15th. Emerson Electric’s payout ratio is 10.94%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. KeyCorp boosted their price target on Emerson Electric from $120.00 to $125.00 and gave the stock an “overweight” rating in a research note on Thursday, February 8th. Citigroup lifted their price objective on Emerson Electric from $120.00 to $133.00 and gave the stock a “buy” rating in a report on Monday, April 8th. Mizuho boosted their price target on Emerson Electric from $118.00 to $130.00 and gave the company a “buy” rating in a report on Thursday, February 8th. Berenberg Bank upped their price target on Emerson Electric from $100.00 to $130.00 and gave the stock a “buy” rating in a research report on Wednesday, March 6th. Finally, Barclays upped their price target on Emerson Electric from $95.00 to $105.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 2nd. Three analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, Emerson Electric currently has an average rating of “Moderate Buy” and an average price target of $116.25.

Emerson Electric 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.