Hoey Investments Inc. Sells 913 Shares of Emerson Electric Co. (NYSE:EMR)

Hoey Investments Inc. trimmed its holdings in shares of Emerson Electric Co. (NYSE:EMR) by 8.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,945 shares of the industrial products company’s stock after selling 913 shares during the period. Emerson Electric comprises 0.2% of Hoey Investments Inc.’s holdings, making the stock its 23rd largest position. Hoey Investments Inc.’s holdings in Emerson Electric were worth $1,090,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. Brighton Jones LLC lifted its stake in Emerson Electric by 74.1% in the 4th quarter. Brighton Jones LLC now owns 11,392 shares of the industrial products company’s stock valued at $1,412,000 after purchasing an additional 4,850 shares during the last quarter. Avidian Wealth Enterprises LLC lifted its position in Emerson Electric by 6.6% during the fourth quarter. Avidian Wealth Enterprises LLC now owns 3,315 shares of the industrial products company’s stock worth $411,000 after acquiring an additional 204 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its position in Emerson Electric by 1.6% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 410,601 shares of the industrial products company’s stock worth $50,167,000 after acquiring an additional 6,564 shares during the last quarter. Avestar Capital LLC lifted its position in Emerson Electric by 5.5% during the fourth quarter. Avestar Capital LLC now owns 6,255 shares of the industrial products company’s stock worth $775,000 after acquiring an additional 325 shares during the last quarter. Finally, Buckhead Capital Management LLC acquired a new stake in Emerson Electric during the fourth quarter worth approximately $2,126,000. 74.30% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Wall Street Zen upgraded shares of Emerson Electric from a “hold” rating to a “buy” rating in a research report on Friday, May 9th. JPMorgan Chase & Co. raised their price objective on shares of Emerson Electric from $113.00 to $133.00 and gave the stock a “neutral” rating in a research report on Friday, May 16th. Wells Fargo & Company raised their price objective on shares of Emerson Electric from $121.00 to $135.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 21st. Barclays raised their target price on shares of Emerson Electric from $112.00 to $118.00 and gave the stock an “underweight” rating in a report on Monday, June 9th. Finally, KeyCorp raised their target price on shares of Emerson Electric from $125.00 to $150.00 and gave the stock an “overweight” rating in a report on Friday. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Emerson Electric has a consensus rating of “Moderate Buy” and an average price target of $136.47.

Emerson Electric Stock Performance

Shares of Emerson Electric stock opened at $125.45 on Friday. Emerson Electric Co. has a fifty-two week low of $90.06 and a fifty-two week high of $134.85. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.54 and a quick ratio of 1.17. The firm has a market capitalization of $70.57 billion, a P/E ratio of 29.94, a P/E/G ratio of 2.49 and a beta of 1.28. The company’s 50 day moving average price is $112.36 and its two-hundred day moving average price is $118.42.

Emerson Electric (NYSE:EMR) last posted its quarterly earnings results on Wednesday, May 7th. The industrial products company reported $1.48 earnings per share for the quarter, beating the consensus estimate of $1.41 by $0.07. The firm had revenue of $4.43 billion during the quarter, compared to the consensus estimate of $4.42 billion. Emerson Electric had a net margin of 13.74% and a return on equity of 12.08%. The business’s revenue was up 1.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.36 earnings per share. On average, equities analysts forecast that Emerson Electric Co. will post 5.96 earnings per share for the current fiscal year.

Emerson Electric Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Friday, May 16th were paid a dividend of $0.5275 per share. This represents a $2.11 dividend on an annualized basis and a dividend yield of 1.68%. The ex-dividend date of this dividend was Friday, May 16th. Emerson Electric’s payout ratio is currently 50.48%.

Insider Activity at Emerson Electric

In related news, CEO Surendralal Lanca Karsanbhai sold 16,698 shares of the stock in a transaction on Thursday, May 8th. The shares were sold at an average price of $113.33, for a total transaction of $1,892,384.34. Following the transaction, the chief executive officer now owns 164,957 shares of the company’s stock, valued at approximately $18,694,576.81. This trade represents a 9.19% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.50% of the stock is currently owned by corporate insiders.

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.