Private Management Group Inc. Decreases Position in Emerson Electric Co. (NYSE:EMR)

Private Management Group Inc. trimmed its holdings in shares of Emerson Electric Co. (NYSE:EMR) by 38.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,780 shares of the industrial products company’s stock after selling 1,121 shares during the quarter. Private Management Group Inc.’s holdings in Emerson Electric were worth $202,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Roanoke Asset Management Corp NY raised its position in shares of Emerson Electric by 15.8% in the 1st quarter. Roanoke Asset Management Corp NY now owns 56,648 shares of the industrial products company’s stock valued at $6,425,000 after purchasing an additional 7,718 shares during the last quarter. Foundry Partners LLC raised its holdings in shares of Emerson Electric by 3.1% in the first quarter. Foundry Partners LLC now owns 188,244 shares of the industrial products company’s stock worth $21,351,000 after buying an additional 5,588 shares during the last quarter. State Board of Administration of Florida Retirement System lifted its stake in shares of Emerson Electric by 10.8% during the first quarter. State Board of Administration of Florida Retirement System now owns 671,736 shares of the industrial products company’s stock worth $76,188,000 after buying an additional 65,507 shares during the period. Hudson Value Partners LLC purchased a new stake in shares of Emerson Electric during the first quarter valued at $1,341,000. Finally, Dearborn Partners LLC raised its stake in Emerson Electric by 1.8% in the 1st quarter. Dearborn Partners LLC now owns 10,970 shares of the industrial products company’s stock worth $1,244,000 after acquiring an additional 194 shares during the last quarter. 74.30% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on EMR. Deutsche Bank Aktiengesellschaft raised Emerson Electric from a “hold” rating to a “buy” rating and lifted their target price for the stock from $123.00 to $138.00 in a report on Thursday, May 9th. Robert W. Baird dropped their price objective on shares of Emerson Electric from $120.00 to $116.00 and set a “neutral” rating on the stock in a report on Thursday, May 9th. Redburn Atlantic started coverage on shares of Emerson Electric in a report on Monday, July 8th. They set a “buy” rating and a $135.00 target price for the company. Wells Fargo & Company upped their price target on shares of Emerson Electric from $133.00 to $137.00 and gave the company an “overweight” rating in a report on Wednesday, June 26th. Finally, Loop Capital lifted their price objective on Emerson Electric from $130.00 to $135.00 and gave the company a “buy” rating in a research note on Friday, May 10th. Three analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat, Emerson Electric currently has a consensus rating of “Moderate Buy” and a consensus price target of $123.44.

Emerson Electric Price Performance

Shares of EMR traded down $1.71 during mid-day trading on Thursday, hitting $116.54. 3,447,517 shares of the company were exchanged, compared to its average volume of 2,652,140. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.87 and a current ratio of 1.18. Emerson Electric Co. has a 1-year low of $83.10 and a 1-year high of $119.53. The stock has a market cap of $66.67 billion, a price-to-earnings ratio of 6.25, a price-to-earnings-growth ratio of 2.03 and a beta of 1.32. The company has a 50 day moving average of $110.98 and a 200-day moving average of $107.17.

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

Emerson Electric Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 10th. Stockholders of record on Friday, May 17th were issued a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a dividend yield of 1.80%. The ex-dividend date of this dividend was Thursday, May 16th. Emerson Electric’s payout ratio is 11.24%.

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.