Cannell & Co. Lowers Stock Holdings in Emerson Electric Co. (NYSE:EMR)

Cannell & Co. cut its holdings in shares of Emerson Electric Co. (NYSE:EMR) by 1.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 45,138 shares of the industrial products company’s stock after selling 489 shares during the period. Cannell & Co.’s holdings in Emerson Electric were worth $4,393,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the business. Tobam boosted its holdings in Emerson Electric by 2,275.0% in the fourth quarter. Tobam now owns 285 shares of the industrial products company’s stock valued at $28,000 after purchasing an additional 273 shares during the period. Tennessee Valley Asset Management Partners purchased a new position in shares of Emerson Electric in the 4th quarter valued at about $35,000. Morton Brown Family Wealth LLC acquired a new position in shares of Emerson Electric during the fourth quarter worth about $39,000. MCF Advisors LLC increased its stake in shares of Emerson Electric by 1,484.6% during the fourth quarter. MCF Advisors LLC now owns 412 shares of the industrial products company’s stock worth $40,000 after buying an additional 386 shares during the period. Finally, Authentikos Wealth Advisory LLC acquired a new stake in Emerson Electric in the third quarter valued at approximately $42,000. Institutional investors and hedge funds own 74.30% of the company’s stock.

Insider Transactions at Emerson Electric

In related news, Director Mark A. Blinn sold 2,413 shares of the firm’s stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $103.18, for a total value of $248,973.34. Following the completion of the transaction, the director now directly owns 9,591 shares of the company’s stock, valued at approximately $989,599.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.25% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on EMR. Mizuho increased their price objective on shares of Emerson Electric from $118.00 to $130.00 and gave the company a “buy” rating in a research report on Thursday, February 8th. Royal Bank of Canada boosted their target price on Emerson Electric from $106.00 to $120.00 and gave the stock an “outperform” rating in a research note on Thursday, February 8th. KeyCorp increased their price target on shares of Emerson Electric from $120.00 to $125.00 and gave the company an “overweight” rating in a research note on Thursday, February 8th. Berenberg Bank boosted their price objective on shares of Emerson Electric from $100.00 to $130.00 and gave the stock a “buy” rating in a research report on Wednesday, March 6th. Finally, UBS Group increased their target price on shares of Emerson Electric from $95.00 to $120.00 and gave the company a “neutral” rating in a research report on Thursday, March 21st. Three equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $116.25.

Emerson Electric Trading Down 1.2 %

NYSE EMR opened at $106.45 on Thursday. The company has a quick ratio of 0.80, a current ratio of 1.12 and a debt-to-equity ratio of 0.29. The stock has a market capitalization of $60.76 billion, a P/E ratio of 5.54, a P/E/G ratio of 1.87 and a beta of 1.36. Emerson Electric Co. has a 52-week low of $76.94 and a 52-week high of $115.26. The firm has a 50-day moving average price of $110.55 and a 200 day moving average price of $99.56.

Emerson Electric (NYSE:EMR) last posted its quarterly earnings results on Wednesday, February 7th. The industrial products company reported $1.22 earnings per share for the quarter, beating analysts’ consensus estimates of $1.04 by $0.18. The firm had revenue of $4.12 billion for the quarter, compared to the consensus estimate of $3.91 billion. Emerson Electric had a return on equity of 11.59% and a net margin of 69.33%. The company’s revenue for the quarter was up 22.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.78 earnings per share. Equities research analysts expect that Emerson Electric Co. will post 5.4 EPS for the current year.

Emerson Electric Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 11th. Shareholders of record on Friday, February 16th were given a dividend of $0.525 per share. The ex-dividend date of this dividend was Thursday, February 15th. This represents a $2.10 annualized dividend and a yield of 1.97%. Emerson Electric’s payout ratio is currently 10.94%.

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.