Zurcher Kantonalbank Zurich Cantonalbank Sells 51,338 Shares of Emerson Electric Co. (NYSE:EMR)

Zurcher Kantonalbank Zurich Cantonalbank trimmed its position in Emerson Electric Co. (NYSE:EMR) by 14.2% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 309,166 shares of the industrial products company’s stock after selling 51,338 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned 0.05% of Emerson Electric worth $34,058,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in EMR. Wellington Management Group LLP raised its stake in Emerson Electric by 12.5% in 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 purchasing an additional 1,488,948 shares in the last quarter. Wells Fargo & Company MN raised its holdings in shares of Emerson Electric by 0.6% during the 4th quarter. Wells Fargo & Company MN now owns 10,654,285 shares of the industrial products company’s stock valued at $1,036,982,000 after buying an additional 62,105 shares in the last quarter. Norges Bank bought a new stake in Emerson Electric in the 4th quarter worth approximately $764,604,000. Charles Schwab Investment Management Inc. boosted its stake in Emerson Electric by 2.0% in 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 buying an additional 60,990 shares in the last quarter. Finally, First Trust Advisors LP grew its holdings in shares of Emerson Electric by 219.2% during the 4th quarter. First Trust Advisors LP now owns 2,601,619 shares of the industrial products company’s stock valued at $253,216,000 after purchasing an additional 1,786,583 shares during the last quarter. 74.30% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

EMR has been the topic of several analyst reports. Deutsche Bank Aktiengesellschaft upgraded Emerson Electric from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $123.00 to $138.00 in a report on Thursday, May 9th. Mizuho raised their target price on shares of Emerson Electric from $130.00 to $135.00 and gave the stock a “buy” rating in a report on Thursday, May 9th. Barclays dropped their price target on shares of Emerson Electric from $110.00 to $103.00 and set an “equal weight” rating for the company in a research report on Thursday, August 8th. StockNews.com downgraded shares of Emerson Electric from a “buy” rating to a “hold” rating in a research note on Thursday, July 25th. Finally, Oppenheimer dropped their price objective on Emerson Electric from $125.00 to $120.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Five investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, Emerson Electric has an average rating of “Moderate Buy” and an average target price of $125.18.

Emerson Electric Stock Up 0.2 %

NYSE:EMR traded up $0.18 during mid-day trading on Thursday, hitting $104.09. 2,953,310 shares of the company’s stock were exchanged, compared to its average volume of 2,680,240. Emerson Electric Co. has a one year low of $83.10 and a one year high of $119.53. The business has a fifty day moving average price of $109.54 and a 200 day moving average price of $109.91. The company has a market cap of $59.55 billion, a PE ratio of 5.57, a P/E/G ratio of 1.93 and a beta of 1.32. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.18 and a quick ratio of 0.87.

Emerson Electric (NYSE:EMR) last announced its quarterly earnings data on Wednesday, August 7th. The industrial products company reported $1.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.42 by $0.01. 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 during the quarter, compared to analysts’ expectations of $4.44 billion. During the same quarter in the previous year, the business earned $1.29 earnings per share. The firm’s quarterly revenue was up 11.0% compared to the same quarter last year. Equities analysts predict that Emerson Electric Co. will post 5.47 EPS for the current year.

Emerson Electric Announces Dividend

The company also recently disclosed 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.