Pittenger & Anderson Inc. Sells 530 Shares of Emerson Electric Co. (NYSE:EMR)

Pittenger & Anderson Inc. lessened its stake in Emerson Electric Co. (NYSE:EMRGet Rating) by 19.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,231 shares of the industrial products company’s stock after selling 530 shares during the period. Pittenger & Anderson Inc.’s holdings in Emerson Electric were worth $177,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in EMR. American National Bank raised its stake in Emerson Electric by 13.5% during the 1st quarter. American National Bank now owns 932 shares of the industrial products company’s stock valued at $91,000 after buying an additional 111 shares during the last quarter. Eads & Heald Wealth Management raised its stake in Emerson Electric by 0.4% during the 1st quarter. Eads & Heald Wealth Management now owns 27,995 shares of the industrial products company’s stock valued at $2,745,000 after buying an additional 120 shares during the last quarter. Synergy Asset Management LLC raised its stake in Emerson Electric by 0.3% during the 1st quarter. Synergy Asset Management LLC now owns 39,021 shares of the industrial products company’s stock valued at $3,826,000 after buying an additional 122 shares during the last quarter. Choreo LLC raised its stake in Emerson Electric by 3.4% during the 1st quarter. Choreo LLC now owns 3,706 shares of the industrial products company’s stock valued at $363,000 after buying an additional 123 shares during the last quarter. Finally, JGP Wealth Management LLC raised its stake in Emerson Electric by 3.2% during the 1st quarter. JGP Wealth Management LLC now owns 4,003 shares of the industrial products company’s stock valued at $379,000 after buying an additional 124 shares during the last quarter. Institutional investors own 72.75% of the company’s stock.

Emerson Electric Stock Down 1.3 %

EMR opened at $75.53 on Friday. The firm has a 50-day simple moving average of $84.77 and a two-hundred day simple moving average of $87.42. Emerson Electric Co. has a 52 week low of $75.50 and a 52 week high of $100.47. The company has a market capitalization of $44.66 billion, a PE ratio of 14.30, a price-to-earnings-growth ratio of 1.78 and a beta of 1.42. The company has a quick ratio of 0.80, a current ratio of 1.06 and a debt-to-equity ratio of 0.51.

Emerson Electric (NYSE:EMRGet Rating) last announced its quarterly earnings results on Tuesday, August 9th. The industrial products company reported $1.38 EPS for the quarter, beating analysts’ consensus estimates of $1.29 by $0.09. Emerson Electric had a net margin of 16.45% and a return on equity of 25.06%. The firm had revenue of $5 billion during the quarter, compared to the consensus estimate of $5.10 billion. During the same quarter last year, the firm earned $1.09 EPS. The firm’s revenue for the quarter was up 6.5% compared to the same quarter last year. Analysts forecast that Emerson Electric Co. will post 5.11 earnings per share for the current fiscal year.

Emerson Electric Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 9th. Investors of record on Friday, August 12th were issued a $0.515 dividend. This represents a $2.06 dividend on an annualized basis and a dividend yield of 2.73%. The ex-dividend date of this dividend was Thursday, August 11th. Emerson Electric’s payout ratio is 39.02%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on EMR shares. Credit Suisse Group decreased their target price on shares of Emerson Electric from $107.00 to $106.00 and set an “outperform” rating for the company in a research note on Wednesday, August 10th. Mizuho upped their price objective on Emerson Electric from $85.00 to $86.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 10th. Deutsche Bank Aktiengesellschaft upped their price objective on Emerson Electric from $97.00 to $99.00 and gave the stock a “buy” rating in a research note on Wednesday, August 10th. Morgan Stanley upped their price objective on Emerson Electric from $95.00 to $97.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 10th. Finally, JPMorgan Chase & Co. started coverage on Emerson Electric in a research note on Thursday, July 7th. They issued a “neutral” rating and a $80.00 price objective for the company. Six research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $98.77.

Emerson Electric Company Profile

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Emerson Electric Co, a technology and engineering company, provides various solutions for customers in industrial, commercial, and residential markets in the Americas, Asia, the Middle East, Africa, and Europe. The company operates through Automation Solutions, and Commercial & Residential Solutions segments.

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

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