Whitener Capital Management Inc. Has $2.23 Million Position in Emerson Electric Co. (NYSE:EMR)

Whitener Capital Management Inc. boosted its stake in shares of Emerson Electric Co. (NYSE:EMR) by 10.7% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 20,357 shares of the industrial products company’s stock after purchasing an additional 1,966 shares during the period. Whitener Capital Management Inc.’s holdings in Emerson Electric were worth $2,226,000 at the end of the most recent reporting period.

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

Emerson Electric Price Performance

NYSE EMR opened at $108.46 on Friday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.86 and a current ratio of 1.16. The stock has a market cap of $62.12 billion, a price-to-earnings ratio of 36.40, a PEG ratio of 1.66 and a beta of 1.30. The business has a 50 day simple moving average of $106.66 and a 200 day simple moving average of $108.86. 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 data on Wednesday, August 7th. The industrial products company reported $1.43 earnings per share (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 the consensus estimate of $4.44 billion. Emerson Electric had a net margin of 10.12% and a return on equity of 11.41%. The firm’s revenue was up 11.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.29 earnings per share. Analysts anticipate that Emerson Electric Co. will post 5.48 earnings per share for the current fiscal year.

Emerson Electric Announces Dividend

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

Wall Street Analyst Weigh In

Several analysts recently weighed in on EMR shares. StockNews.com downgraded Emerson Electric from a “buy” rating to a “hold” rating in a research note on Thursday, July 25th. Barclays dropped their target price on Emerson Electric from $110.00 to $103.00 and set an “equal weight” rating for the company in a report on Thursday, August 8th. Robert W. Baird boosted their price target on shares of Emerson Electric from $116.00 to $117.00 and gave the company a “neutral” rating in a research report on Thursday, August 8th. JPMorgan Chase & Co. downgraded shares of Emerson Electric from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $132.00 to $115.00 in a research note on Wednesday, August 14th. Finally, Wells Fargo & Company decreased their price target on Emerson Electric from $137.00 to $128.00 and set an “overweight” rating on the stock in a report on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $125.47.

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.