Goldstone Financial Group LLC Buys New Holdings in Emerson Electric Co. (NYSE:EMR)

Goldstone Financial Group LLC bought a new stake in Emerson Electric Co. (NYSE:EMR) in the 3rd quarter, Holdings Channel.com reports. The firm bought 3,598 shares of the industrial products company’s stock, valued at approximately $393,000.

Several other hedge funds have also bought and sold shares of the company. Transcendent Capital Group LLC bought a new position in Emerson Electric in the 1st quarter valued at about $31,000. Meeder Asset Management Inc. raised its holdings in Emerson Electric by 361.5% in the 2nd quarter. Meeder Asset Management Inc. now owns 300 shares of the industrial products company’s stock valued at $33,000 after acquiring an additional 235 shares during the period. Morton Brown Family Wealth LLC bought a new position in Emerson Electric in the 3rd quarter valued at about $33,000. Versant Capital Management Inc raised its holdings in Emerson Electric by 471.9% in the 2nd quarter. Versant Capital Management Inc now owns 326 shares of the industrial products company’s stock valued at $36,000 after acquiring an additional 269 shares during the period. Finally, Matrix Trust Co bought a new position in shares of Emerson Electric during the third quarter worth approximately $44,000. 74.30% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently commented on EMR. Oppenheimer raised their target price on shares of Emerson Electric from $120.00 to $125.00 and gave the stock an “outperform” rating in a report on Thursday, September 26th. JPMorgan Chase & Co. cut shares of Emerson Electric from an “overweight” rating to a “neutral” rating and lowered their target price for the stock from $132.00 to $115.00 in a report on Wednesday, August 14th. Wells Fargo & Company lowered their target price on shares of Emerson Electric from $137.00 to $128.00 and set an “overweight” rating on the stock in a report on Thursday, August 8th. Stephens cut shares of Emerson Electric from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $135.00 to $120.00 in a report on Wednesday, October 16th. Finally, Morgan Stanley assumed coverage on shares of Emerson Electric in a research note on Friday, September 6th. They issued an “underweight” rating and a $105.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $125.47.

Emerson Electric Price Performance

Shares of NYSE:EMR opened at $108.25 on Friday. The firm has a market cap of $61.99 billion, a PE ratio of 36.33, a price-to-earnings-growth ratio of 1.68 and a beta of 1.30. The firm’s fifty day moving average is $106.59 and its 200-day moving average is $108.90. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.86 and a current ratio of 1.16. Emerson Electric Co. has a 52 week low of $83.10 and a 52 week high of $119.53.

Emerson Electric (NYSE:EMR) last issued its quarterly earnings results on Wednesday, August 7th. The industrial products company reported $1.43 EPS for the quarter, topping analysts’ consensus estimates of $1.42 by $0.01. The company had revenue of $4.38 billion for the quarter, compared to analyst estimates of $4.44 billion. Emerson Electric had a net margin of 10.12% and a return on equity of 11.41%. Emerson Electric’s revenue was up 11.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.29 earnings per share. Sell-side analysts predict that Emerson Electric Co. will post 5.48 earnings per share for the current year.

Emerson Electric Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Friday, August 16th were paid a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a yield of 1.94%. The ex-dividend date was Friday, August 16th. Emerson Electric’s dividend payout ratio is presently 70.47%.

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.