Emerson Electric Co. (NYSE:EMR) Shares Sold by Thoroughbred Financial Services LLC

Thoroughbred Financial Services LLC trimmed its position in Emerson Electric Co. (NYSE:EMR) by 3.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,363 shares of the industrial products company’s stock after selling 164 shares during the quarter. Thoroughbred Financial Services LLC’s holdings in Emerson Electric were worth $521,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Morgan Stanley raised its holdings in shares of Emerson Electric by 7.9% during the third quarter. Morgan Stanley now owns 13,750,393 shares of the industrial products company’s stock worth $1,327,876,000 after purchasing an additional 1,008,294 shares during the period. Invesco Ltd. lifted its holdings in Emerson Electric by 16.9% in the third quarter. Invesco Ltd. now owns 8,199,836 shares of the industrial products company’s stock worth $791,858,000 after acquiring an additional 1,184,202 shares during the last quarter. Norges Bank acquired a new position in Emerson Electric in the fourth quarter valued at approximately $764,604,000. Nordea Investment Management AB grew its holdings in shares of Emerson Electric by 26.5% during the fourth quarter. Nordea Investment Management AB now owns 7,447,248 shares of the industrial products company’s stock valued at $723,873,000 after purchasing an additional 1,558,903 shares during the last quarter. Finally, Northern Trust Corp boosted its position in Emerson Electric by 2.4% during the 3rd quarter. Northern Trust Corp now owns 7,167,611 shares of the industrial products company’s stock valued at $692,176,000 after purchasing an additional 168,783 shares during the period. 74.30% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on EMR shares. StockNews.com cut Emerson Electric from a “buy” rating to a “hold” rating in a research note on Friday, May 17th. Citigroup boosted their target price on shares of Emerson Electric from $120.00 to $133.00 and gave the company a “buy” rating in a research note on Monday, April 8th. Robert W. Baird decreased their target price on shares of Emerson Electric from $120.00 to $116.00 and set a “neutral” rating for the company in a research report on Thursday, May 9th. Deutsche Bank Aktiengesellschaft upgraded Emerson Electric from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $123.00 to $138.00 in a research report on Thursday, May 9th. Finally, UBS Group raised their target price on Emerson Electric from $95.00 to $120.00 and gave the company a “neutral” rating in a research report on Thursday, March 21st. Four investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $120.56.

Emerson Electric Stock Performance

Shares of EMR opened at $113.70 on Wednesday. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.18 and a quick ratio of 0.87. The firm’s 50 day moving average is $111.64 and its 200-day moving average is $101.67. Emerson Electric Co. has a 12-month low of $76.94 and a 12-month high of $116.76. The stock has a market capitalization of $65.05 billion, a P/E ratio of 6.08, a P/E/G ratio of 1.90 and a beta of 1.36.

Emerson Electric (NYSE:EMR) last posted its quarterly earnings results on Wednesday, May 8th. The industrial products company reported $1.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.25 by $0.11. The company had revenue of $4.38 billion for the quarter, compared to analysts’ expectations of $4.29 billion. Emerson Electric had a return on equity of 11.14% and a net margin of 64.97%. The firm’s revenue was up 16.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.09 earnings per share. Equities research analysts anticipate that Emerson Electric Co. will post 5.47 EPS for the current fiscal year.

Emerson Electric Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Friday, May 17th will be paid a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a yield of 1.85%. The ex-dividend date of this dividend is Thursday, May 16th. Emerson Electric’s dividend payout ratio is presently 11.24%.

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.