Emerson Electric Co. (NYSE:EMR) Shares Acquired by Cornerstone Wealth Management LLC

Cornerstone Wealth Management LLC boosted its holdings in Emerson Electric Co. (NYSE:EMR) by 3.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 51,901 shares of the industrial products company’s stock after purchasing an additional 1,587 shares during the quarter. Cornerstone Wealth Management LLC’s holdings in Emerson Electric were worth $5,676,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of EMR. Transcendent Capital Group LLC bought a new position in Emerson Electric in the first quarter worth about $31,000. Meeder Asset Management Inc. boosted its position in Emerson Electric by 361.5% during the 2nd quarter. Meeder Asset Management Inc. now owns 300 shares of the industrial products company’s stock valued at $33,000 after purchasing an additional 235 shares during the period. Tributary Capital Management LLC bought a new position in Emerson Electric during the 1st quarter worth $35,000. Rise Advisors LLC acquired a new stake in Emerson Electric in the first quarter worth $36,000. Finally, Versant Capital Management Inc lifted its stake in Emerson Electric by 471.9% in the second quarter. Versant Capital Management Inc now owns 326 shares of the industrial products company’s stock valued at $36,000 after buying an additional 269 shares during the last quarter. 74.30% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages recently weighed in on EMR. JPMorgan Chase & Co. downgraded shares of Emerson Electric from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $132.00 to $115.00 in a research report on Wednesday, August 14th. Oppenheimer boosted their price objective on Emerson Electric from $120.00 to $125.00 and gave the stock an “outperform” rating in a research report on Thursday, September 26th. Robert W. Baird raised their target price on Emerson Electric from $116.00 to $117.00 and gave the company a “neutral” rating in a research report on Thursday, August 8th. StockNews.com lowered Emerson Electric from a “buy” rating to a “hold” rating in a research report on Thursday, July 25th. Finally, Morgan Stanley started coverage on Emerson Electric in a report on Friday, September 6th. They set an “underweight” rating and a $105.00 price target on the stock. One research analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $125.47.

Emerson Electric Stock Up 1.2 %

Shares of Emerson Electric stock opened at $110.59 on Thursday. Emerson Electric Co. has a 12-month low of $83.10 and a 12-month high of $119.53. The firm has a market capitalization of $63.27 billion, a PE ratio of 5.92, a price-to-earnings-growth ratio of 1.70 and a beta of 1.30. The company has a quick ratio of 0.86, a current ratio of 1.16 and a debt-to-equity ratio of 0.27. The stock’s fifty day moving average is $105.41 and its 200-day moving average is $109.22.

Emerson Electric (NYSE:EMR) last announced its earnings results on Wednesday, August 7th. The industrial products company reported $1.43 EPS for the quarter, topping the consensus estimate of $1.42 by $0.01. The company had revenue of $4.38 billion during the quarter, compared to analysts’ expectations of $4.44 billion. Emerson Electric had a net margin of 10.12% and a return on equity of 11.41%. The business’s revenue for the quarter was up 11.0% on a year-over-year basis. During the same period last year, the company posted $1.29 earnings per share. Equities analysts anticipate that Emerson Electric Co. will post 5.48 earnings per share for the current year.

Emerson Electric Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Friday, August 16th were given a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a yield of 1.90%. The ex-dividend date of this dividend was Friday, August 16th. Emerson Electric’s payout ratio is 11.24%.

Emerson Electric Company 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.