Emerson Electric Co. (NYSE:EMR) Stake Reduced by Exeter Financial LLC

Exeter Financial LLC cut its stake in Emerson Electric Co. (NYSE:EMR) by 2.2% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 46,515 shares of the industrial products company’s stock after selling 1,031 shares during the quarter. Emerson Electric makes up approximately 2.4% of Exeter Financial LLC’s investment portfolio, making the stock its 9th largest position. Exeter Financial LLC’s holdings in Emerson Electric were worth $5,258,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. Morgan Stanley lifted its holdings in Emerson Electric by 7.9% in the third quarter. Morgan Stanley now owns 13,750,393 shares of the industrial products company’s stock valued at $1,327,876,000 after acquiring an additional 1,008,294 shares during the period. Wellington Management Group LLP raised its stake in shares of Emerson Electric by 12.5% during the 4th quarter. Wellington Management Group LLP now owns 13,435,524 shares of the industrial products company’s stock worth $1,307,680,000 after buying an additional 1,488,948 shares during the period. Wells Fargo & Company MN raised its stake in shares of Emerson Electric by 0.6% during the 4th quarter. Wells Fargo & Company MN now owns 10,654,285 shares of the industrial products company’s stock worth $1,036,982,000 after buying an additional 62,105 shares during the period. Norges Bank acquired a new position in shares of Emerson Electric during the 4th quarter worth approximately $764,604,000. Finally, Nordea Investment Management AB raised its stake in shares of Emerson Electric by 26.5% during the 4th quarter. Nordea Investment Management AB now owns 7,447,248 shares of the industrial products company’s stock worth $723,873,000 after buying an additional 1,558,903 shares during the period. 74.30% of the stock is owned by institutional investors and hedge funds.

Emerson Electric Trading Up 1.6 %

EMR traded up $1.67 during mid-day trading on Thursday, hitting $107.79. 1,583,280 shares of the stock were exchanged, compared to its average volume of 2,666,388. The firm’s fifty day moving average is $109.99 and its two-hundred day moving average is $105.43. Emerson Electric Co. has a 1-year low of $83.10 and a 1-year high of $116.76. The company has a current ratio of 1.18, a quick ratio of 0.87 and a debt-to-equity ratio of 0.28. The company has a market cap of $61.67 billion, a PE ratio of 5.76, a PEG ratio of 1.80 and a beta of 1.33.

Emerson Electric (NYSE:EMR) last posted its earnings results on Wednesday, May 8th. The industrial products company reported $1.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.25 by $0.11. Emerson Electric had a return on equity of 11.14% and a net margin of 64.97%. The firm had revenue of $4.38 billion for the quarter, compared to analyst estimates of $4.29 billion. During the same quarter in the prior year, the company earned $1.09 EPS. Emerson Electric’s revenue was up 16.5% on a year-over-year basis. Equities analysts forecast that Emerson Electric Co. will post 5.47 earnings per share for the current fiscal year.

Emerson Electric Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 10th. Shareholders of record on Friday, May 17th were given a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a yield of 1.95%. The ex-dividend date of this dividend was Thursday, May 16th. Emerson Electric’s dividend payout ratio is currently 11.24%.

Analyst Upgrades and Downgrades

EMR has been the subject of several research reports. Mizuho boosted their price target on Emerson Electric from $130.00 to $135.00 and gave the stock a “buy” rating in a research report on Thursday, May 9th. StockNews.com cut Emerson Electric from a “buy” rating to a “hold” rating in a research report on Friday, May 17th. Berenberg Bank boosted 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. Robert W. Baird dropped their target price on Emerson Electric from $120.00 to $116.00 and set a “neutral” rating for the company in a report on Thursday, May 9th. Finally, Bank of America upped their target price on Emerson Electric from $120.00 to $130.00 and gave the company a “buy” rating in a report on Monday, March 4th. Four equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $122.76.

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.