Atlantic Union Bankshares Corp Cuts Stock Holdings in Emerson Electric Co. (NYSE:EMR)

Atlantic Union Bankshares Corp reduced its holdings in shares of Emerson Electric Co. (NYSE:EMR) by 11.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 12,190 shares of the industrial products company’s stock after selling 1,634 shares during the quarter. Atlantic Union Bankshares Corp’s holdings in Emerson Electric were worth $1,102,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of EMR. RB Capital Management LLC lifted its holdings in Emerson Electric by 3.0% during the first quarter. RB Capital Management LLC now owns 5,358 shares of the industrial products company’s stock worth $525,000 after acquiring an additional 155 shares during the period. Fairfield Bush & CO. bought a new stake in shares of Emerson Electric in the first quarter valued at $116,000. Prudential PLC bought a new stake in shares of Emerson Electric in the first quarter valued at $1,215,000. Sequoia Financial Advisors LLC raised its stake in shares of Emerson Electric by 17.5% in the first quarter. Sequoia Financial Advisors LLC now owns 9,521 shares of the industrial products company’s stock valued at $934,000 after buying an additional 1,418 shares during the period. Finally, Brighton Jones LLC raised its stake in shares of Emerson Electric by 31.8% in the first quarter. Brighton Jones LLC now owns 3,856 shares of the industrial products company’s stock valued at $378,000 after buying an additional 931 shares during the period. 72.02% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on EMR shares. Stephens restated an “overweight” rating and issued a $120.00 target price on shares of Emerson Electric in a research note on Monday, August 7th. HSBC upgraded Emerson Electric from a “hold” rating to a “buy” rating and boosted their target price for the company from $79.00 to $100.00 in a research note on Wednesday, June 14th. Vertical Research upgraded Emerson Electric from a “hold” rating to a “buy” rating and set a $120.00 price objective on the stock in a research note on Friday. Royal Bank of Canada boosted their price objective on Emerson Electric from $103.00 to $111.00 and gave the company an “outperform” rating in a research note on Thursday, August 3rd. Finally, Morgan Stanley boosted their price objective on Emerson Electric from $107.00 to $116.00 and gave the company an “overweight” rating in a research note on Thursday, August 3rd. Three research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $105.67.

Emerson Electric Price Performance

EMR opened at $99.63 on Tuesday. The stock has a 50-day moving average price of $95.35 and a 200-day moving average price of $88.21. Emerson Electric Co. has a 12-month low of $72.40 and a 12-month high of $100.62. The company has a current ratio of 2.38, a quick ratio of 2.07 and a debt-to-equity ratio of 0.29. The stock has a market capitalization of $57.18 billion, a P/E ratio of 4.36, a PEG ratio of 2.32 and a beta of 1.39.

Emerson Electric (NYSE:EMR) last posted its quarterly earnings data on Wednesday, August 2nd. The industrial products company reported $1.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.09 by $0.20. Emerson Electric had a return on equity of 14.27% and a net margin of 80.41%. The firm had revenue of $3.95 billion during the quarter, compared to analysts’ expectations of $3.89 billion. Equities analysts predict that Emerson Electric Co. will post 4.44 earnings per share for the current fiscal year.

Emerson Electric Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 11th. Stockholders of record on Friday, August 11th were issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.09%. The ex-dividend date of this dividend was Thursday, August 10th. Emerson Electric’s payout ratio is currently 9.09%.

Insider Activity at Emerson Electric

In related news, VP Lisa Flavin sold 48,718 shares of the stock in a transaction dated Tuesday, June 27th. The stock was sold at an average price of $89.65, for a total transaction of $4,367,568.70. Following the completion of the sale, the vice president now directly owns 51,748 shares in the company, valued at approximately $4,639,208.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, VP Lisa Flavin sold 48,718 shares of the stock in a transaction dated Tuesday, June 27th. The stock was sold at an average price of $89.65, for a total transaction of $4,367,568.70. Following the completion of the sale, the vice president now directly owns 51,748 shares in the company, valued at approximately $4,639,208.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CMO Vidya Ramnath sold 2,500 shares of the stock in a transaction dated Tuesday, September 5th. The shares were sold at an average price of $97.86, for a total value of $244,650.00. Following the sale, the chief marketing officer now owns 11,870 shares of the company’s stock, valued at $1,161,598.20. The disclosure for this sale can be found here. 0.33% of the stock is currently owned by company insiders.

About Emerson Electric

Emerson Electric Co, a technology and engineering company, provides various solutions for customers in industrial, commercial, and consumer markets in the Americas, Asia, the Middle East, Africa, and Europe. The company operates through Automation Solutions, AspenTech, and Commercial & Residential Solutions segments.