Miracle Mile Advisors LLC Purchases 3,955 Shares of Emerson Electric Co. $EMR

Miracle Mile Advisors LLC grew its holdings in Emerson Electric Co. (NYSE:EMR) by 18.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 25,036 shares of the industrial products company’s stock after purchasing an additional 3,955 shares during the quarter. Miracle Mile Advisors LLC’s holdings in Emerson Electric were worth $3,284,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Impact Capital Partners LLC grew its holdings in Emerson Electric by 3.9% during the 2nd quarter. Impact Capital Partners LLC now owns 1,909 shares of the industrial products company’s stock worth $255,000 after acquiring an additional 71 shares during the period. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors grew its stake in shares of Emerson Electric by 1.7% during the second quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors now owns 4,338 shares of the industrial products company’s stock worth $578,000 after purchasing an additional 71 shares during the period. Jag Capital Management LLC increased its holdings in Emerson Electric by 1.9% in the second quarter. Jag Capital Management LLC now owns 3,954 shares of the industrial products company’s stock valued at $527,000 after purchasing an additional 72 shares during the last quarter. Beacon Financial Advisory LLC boosted its holdings in Emerson Electric by 2.9% during the second quarter. Beacon Financial Advisory LLC now owns 2,769 shares of the industrial products company’s stock worth $369,000 after buying an additional 77 shares during the last quarter. Finally, Revolve Wealth Partners LLC grew its position in shares of Emerson Electric by 3.5% during the 3rd quarter. Revolve Wealth Partners LLC now owns 2,308 shares of the industrial products company’s stock worth $303,000 after buying an additional 79 shares during the period. 74.30% of the stock is owned by institutional investors.

Insider Activity

In other news, CEO Surendralal Lanca Karsanbhai sold 7,263 shares of the business’s stock in a transaction on Wednesday, December 3rd. The shares were sold at an average price of $133.00, for a total value of $965,979.00. Following the sale, the chief executive officer owned 196,292 shares of the company’s stock, valued at $26,106,836. The trade was a 3.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.23% of the stock is owned by company insiders.

Analyst Ratings Changes

EMR has been the topic of a number of analyst reports. Weiss Ratings reiterated a “buy (b-)” rating on shares of Emerson Electric in a research report on Wednesday, October 8th. Jefferies Financial Group reiterated a “hold” rating and issued a $145.00 target price on shares of Emerson Electric in a report on Wednesday, December 10th. JPMorgan Chase & Co. decreased their price target on shares of Emerson Electric from $151.00 to $150.00 and set a “neutral” rating for the company in a report on Monday, November 10th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Emerson Electric from $157.00 to $159.00 and gave the company a “buy” rating in a research report on Thursday, October 2nd. Finally, Royal Bank Of Canada decreased their target price on Emerson Electric from $155.00 to $153.00 and set an “outperform” rating for the company in a research note on Thursday, November 6th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $149.06.

Emerson Electric Trading Down 1.9%

EMR opened at $132.78 on Friday. The firm’s fifty day simple moving average is $133.29 and its 200 day simple moving average is $134.14. The stock has a market capitalization of $74.66 billion, a P/E ratio of 32.87, a P/E/G ratio of 2.16 and a beta of 1.26. The company has a current ratio of 0.88, a quick ratio of 0.65 and a debt-to-equity ratio of 0.41. Emerson Electric Co. has a 12 month low of $90.06 and a 12 month high of $150.27.

Emerson Electric (NYSE:EMR) last released its quarterly earnings results on Thursday, April 6th. The industrial products company reported $0.79 earnings per share (EPS) for the quarter. The firm had revenue of $3.16 billion for the quarter. Emerson Electric had a return on equity of 15.87% and a net margin of 12.73%. As a group, research analysts anticipate that Emerson Electric Co. will post 5.96 EPS for the current fiscal year.

Emerson Electric announced that its board has initiated a share repurchase plan on Wednesday, November 5th that authorizes the company to repurchase $0.00 in outstanding shares. This repurchase authorization authorizes the industrial products company to buy shares of its stock through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its shares are undervalued.

Emerson Electric Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 10th. Shareholders of record on Friday, November 14th were given a dividend of $0.555 per share. This is an increase from Emerson Electric’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Friday, November 14th. This represents a $2.22 dividend on an annualized basis and a yield of 1.7%. Emerson Electric’s payout ratio is currently 54.95%.

Emerson Electric Profile

Emerson Electric Co is a global technology and engineering company that designs and manufactures products and provides services for industrial, commercial and consumer markets. Founded in 1890, the company is headquartered in St. Louis, Missouri, and has built a long-standing presence in automation, control and climate-related technologies. Emerson’s offerings are aimed at improving productivity, energy efficiency and reliability for a wide range of end markets.

Emerson operates through two principal platforms—Automation Solutions and Commercial & Residential Solutions—providing process automation systems, measurement and analytical instrumentation, valves and actuators, control software, and related aftermarket services, alongside products for heating, ventilation and refrigeration, residential and commercial climate controls, tools and storage solutions.