Pinnacle Associates Ltd. Trims Stake in Emerson Electric Co. (NYSE:EMR)

Pinnacle Associates Ltd. lowered its holdings in Emerson Electric Co. (NYSE:EMR) by 0.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 46,330 shares of the industrial products company’s stock after selling 434 shares during the period. Pinnacle Associates Ltd.’s holdings in Emerson Electric were worth $3,172,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Vanguard Group Inc increased its stake in Emerson Electric by 2.4% in the third quarter. Vanguard Group Inc now owns 51,601,229 shares of the industrial products company’s stock worth $3,951,622,000 after purchasing an additional 1,214,362 shares during the period. Oppenheimer Asset Management Inc. purchased a new stake in Emerson Electric in the fourth quarter worth $100,000. First National Bank of Hutchinson increased its stake in Emerson Electric by 37.6% in the fourth quarter. First National Bank of Hutchinson now owns 3,725 shares of the industrial products company’s stock worth $223,000 after purchasing an additional 1,017 shares during the period. Fosun International Ltd increased its stake in Emerson Electric by 15.5% in the fourth quarter. Fosun International Ltd now owns 3,810 shares of the industrial products company’s stock worth $226,000 after purchasing an additional 510 shares during the period. Finally, Orca Investment Management LLC increased its stake in Emerson Electric by 2.8% in the fourth quarter. Orca Investment Management LLC now owns 5,692 shares of the industrial products company’s stock worth $340,000 after purchasing an additional 156 shares during the period. 70.45% of the stock is owned by institutional investors and hedge funds.

In other Emerson Electric news, VP Bell Katherine Button sold 4,470 shares of Emerson Electric stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $65.00, for a total value of $290,550.00. Following the transaction, the vice president now owns 18,040 shares in the company, valued at $1,172,600. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Michael H. Train sold 12,278 shares of Emerson Electric stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $63.80, for a total value of $783,336.40. Following the completion of the transaction, the insider now owns 129,298 shares in the company, valued at approximately $8,249,212.40. The disclosure for this sale can be found here. Insiders sold 40,333 shares of company stock worth $2,583,230 in the last quarter. 0.07% of the stock is owned by insiders.

Shares of Emerson Electric stock traded up $0.62 during trading on Friday, hitting $66.72. 3,541,559 shares of the stock traded hands, compared to its average volume of 3,355,213. The stock has a market cap of $40.80 billion, a price-to-earnings ratio of 19.74, a P/E/G ratio of 2.10 and a beta of 1.30. The company has a current ratio of 1.07, a quick ratio of 0.76 and a debt-to-equity ratio of 0.44. Emerson Electric Co. has a 52-week low of $55.38 and a 52-week high of $79.70. The firm’s fifty day moving average is $63.85.

Emerson Electric (NYSE:EMR) last announced its quarterly earnings results on Tuesday, May 7th. The industrial products company reported $0.84 EPS for the quarter, meeting the consensus estimate of $0.84. Emerson Electric had a return on equity of 24.63% and a net margin of 12.81%. The firm had revenue of $4.57 billion for the quarter, compared to analyst estimates of $4.64 billion. During the same quarter last year, the firm posted $0.76 earnings per share. The business’s revenue for the quarter was up 7.6% on a year-over-year basis. On average, equities research analysts anticipate that Emerson Electric Co. will post 3.65 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Monday, June 10th. Shareholders of record on Friday, May 17th were paid a $0.49 dividend. The ex-dividend date was Thursday, May 16th. This represents a $1.96 annualized dividend and a yield of 2.94%. Emerson Electric’s dividend payout ratio (DPR) is presently 57.99%.

A number of analysts have weighed in on EMR shares. Citigroup upgraded Emerson Electric from a “neutral” rating to a “buy” rating and increased their target price for the stock from $67.00 to $81.00 in a research note on Monday, April 8th. Zacks Investment Research upgraded Emerson Electric from a “hold” rating to a “buy” rating and set a $79.00 target price on the stock in a research note on Tuesday, April 2nd. Finally, Credit Suisse Group reduced their target price on Emerson Electric from $80.00 to $74.00 and set an “outperform” rating on the stock in a research note on Wednesday, June 5th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and eleven have given a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $75.76.

Emerson Electric Company Profile

Emerson Electric Co, a technology and engineering company, provides various solutions to industrial, commercial, and consumer markets worldwide. The company's Automation Solutions segment offers products and integrated solutions, including measurement and analytical instrumentation; valves, actuators, and regulators; industrial solutions; and process control systems and solutions.

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Institutional Ownership by Quarter for Emerson Electric (NYSE:EMR)

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