Emerson Electric Co. $EMR Shares Sold by Patten Group Inc.

Patten Group Inc. cut its position in Emerson Electric Co. (NYSE:EMR) by 1.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 26,179 shares of the industrial products company’s stock after selling 302 shares during the period. Emerson Electric accounts for 0.7% of Patten Group Inc.’s holdings, making the stock its 28th largest position. Patten Group Inc.’s holdings in Emerson Electric were worth $3,491,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the company. Wellington Management Group LLP boosted its stake in shares of Emerson Electric by 6.9% in the first quarter. Wellington Management Group LLP now owns 15,280,950 shares of the industrial products company’s stock worth $1,675,403,000 after acquiring an additional 980,652 shares during the last quarter. Nordea Investment Management AB boosted its stake in Emerson Electric by 19.5% during the second quarter. Nordea Investment Management AB now owns 9,195,005 shares of the industrial products company’s stock worth $1,223,947,000 after buying an additional 1,499,000 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in Emerson Electric by 9.3% during the first quarter. JPMorgan Chase & Co. now owns 7,166,817 shares of the industrial products company’s stock worth $785,770,000 after buying an additional 611,105 shares during the last quarter. Nuveen LLC acquired a new position in Emerson Electric during the first quarter worth $737,318,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Emerson Electric by 5.8% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,086,580 shares of the industrial products company’s stock worth $448,053,000 after buying an additional 223,831 shares during the last quarter. 74.30% of the stock is owned by institutional investors and hedge funds.

Emerson Electric Price Performance

NYSE:EMR opened at $132.29 on Wednesday. Emerson Electric Co. has a 52 week low of $90.06 and a 52 week high of $150.27. The company has a quick ratio of 0.63, a current ratio of 0.85 and a debt-to-equity ratio of 0.42. The company has a market capitalization of $74.45 billion, a P/E ratio of 28.45, a P/E/G ratio of 2.25 and a beta of 1.29. The stock’s fifty day moving average is $131.88 and its two-hundred day moving average is $126.36.

Emerson Electric (NYSE:EMR) last posted its earnings results on Thursday, April 6th. The industrial products company reported $0.79 EPS for the quarter. The company had revenue of $3.16 billion for the quarter. Emerson Electric had a return on equity of 14.34% and a net margin of 14.92%. Equities analysts expect that Emerson Electric Co. will post 5.96 EPS for the current year.

Emerson Electric Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Friday, August 15th were issued a $0.5275 dividend. This represents a $2.11 annualized dividend and a dividend yield of 1.6%. The ex-dividend date was Friday, August 15th. Emerson Electric’s payout ratio is currently 45.38%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on EMR. Bank of America boosted their price objective on Emerson Electric from $130.00 to $155.00 and gave the stock a “buy” rating in a research note on Wednesday, July 2nd. Deutsche Bank Aktiengesellschaft boosted their price objective on Emerson Electric from $157.00 to $159.00 and gave the stock a “buy” rating in a research note on Thursday, October 2nd. Jefferies Financial Group lowered their price objective on Emerson Electric from $160.00 to $155.00 and set a “buy” rating on the stock in a research note on Tuesday, October 7th. Citigroup lifted their target price on Emerson Electric from $146.00 to $165.00 and gave the company a “buy” rating in a research report on Monday, July 14th. Finally, Barclays upgraded Emerson Electric from an “underweight” rating to an “equal weight” rating and lifted their target price for the company from $125.00 to $127.00 in a research report on Thursday, August 7th. Two analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $148.28.

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.