Emerson Electric Co. (NYSE:EMR) Holdings Decreased by Meyer Handelman Co.

Meyer Handelman Co. lessened its stake in Emerson Electric Co. (NYSE:EMR) by 0.2% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 118,430 shares of the industrial products company’s stock after selling 180 shares during the period. Meyer Handelman Co.’s holdings in Emerson Electric were worth $13,046,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Wellington Management Group LLP increased its stake in shares of Emerson Electric by 12.5% during the fourth quarter. Wellington Management Group LLP now owns 13,435,524 shares of the industrial products company’s stock valued at $1,307,680,000 after acquiring an additional 1,488,948 shares during the period. Wells Fargo & Company MN raised its stake in shares of Emerson Electric by 0.6% in the 4th quarter. Wells Fargo & Company MN now owns 10,654,285 shares of the industrial products company’s stock worth $1,036,982,000 after buying an additional 62,105 shares in the last quarter. Norges Bank acquired a new stake in shares of Emerson Electric in the fourth quarter valued at $764,604,000. Charles Schwab Investment Management Inc. grew its holdings in Emerson Electric by 2.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,174,088 shares of the industrial products company’s stock worth $308,934,000 after acquiring an additional 60,990 shares during the period. Finally, First Trust Advisors LP raised its position in Emerson Electric by 219.2% in the fourth quarter. First Trust Advisors LP now owns 2,601,619 shares of the industrial products company’s stock worth $253,216,000 after acquiring an additional 1,786,583 shares in the last quarter. Institutional investors and hedge funds own 74.30% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on EMR shares. Loop Capital lifted their price objective on shares of Emerson Electric from $130.00 to $135.00 and gave the stock a “buy” rating in a research note on Friday, May 10th. Barclays dropped their price target on Emerson Electric from $110.00 to $103.00 and set an “equal weight” rating on the stock in a report on Thursday, August 8th. Redburn Atlantic began coverage on Emerson Electric in a report on Monday, July 8th. They issued a “buy” rating and a $135.00 target price on the stock. Deutsche Bank Aktiengesellschaft raised Emerson Electric from a “hold” rating to a “buy” rating and upped their target price for the company from $123.00 to $138.00 in a report on Thursday, May 9th. Finally, Robert W. Baird boosted their price objective on Emerson Electric from $116.00 to $117.00 and gave the stock a “neutral” rating in a report on Thursday, August 8th. Four research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $123.89.

Emerson Electric Stock Performance

Shares of NYSE:EMR traded up $1.03 during midday trading on Tuesday, hitting $104.10. The company’s stock had a trading volume of 2,578,174 shares, compared to its average volume of 2,687,139. Emerson Electric Co. has a fifty-two week low of $83.10 and a fifty-two week high of $119.53. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.87 and a current ratio of 1.18. The stock has a market capitalization of $59.56 billion, a price-to-earnings ratio of 5.57, a PEG ratio of 1.93 and a beta of 1.32. The stock’s 50 day simple moving average is $110.41 and its 200 day simple moving average is $109.44.

Emerson Electric (NYSE:EMR) last posted its quarterly earnings data on Wednesday, August 7th. The industrial products company reported $1.43 earnings per share for the quarter, beating the consensus estimate of $1.42 by $0.01. The company had revenue of $4.38 billion during the quarter, compared to analysts’ expectations of $4.44 billion. Emerson Electric had a return on equity of 11.14% and a net margin of 64.97%. Emerson Electric’s revenue for the quarter was up 11.0% compared to the same quarter last year. During the same period in the prior year, the business earned $1.29 earnings per share. As a group, research analysts anticipate that Emerson Electric Co. will post 5.47 earnings per share for the current year.

Emerson Electric Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Friday, August 16th will be paid a dividend of $0.525 per share. The ex-dividend date of this dividend is Friday, August 16th. This represents a $2.10 dividend on an annualized basis and a yield of 2.02%. Emerson Electric’s dividend payout ratio is currently 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.