Cary Street Partners Asset Management LLC Decreases Stock Position in Emerson Electric Co. (NYSE:EMR)

Cary Street Partners Asset Management LLC lowered its stake in shares of Emerson Electric Co. (NYSE:EMR) by 5.7% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 2,497 shares of the industrial products company’s stock after selling 151 shares during the quarter. Cary Street Partners Asset Management LLC’s holdings in Emerson Electric were worth $273,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the stock. Transcendent Capital Group LLC acquired a new position in shares of Emerson Electric in the 1st quarter valued at $31,000. Meeder Asset Management Inc. raised its stake in shares of Emerson Electric by 361.5% in the second quarter. Meeder Asset Management Inc. now owns 300 shares of the industrial products company’s stock worth $33,000 after purchasing an additional 235 shares during the last quarter. Morton Brown Family Wealth LLC purchased a new stake in Emerson Electric in the third quarter valued at approximately $33,000. Versant Capital Management Inc increased its holdings in Emerson Electric by 471.9% in the 2nd quarter. Versant Capital Management Inc now owns 326 shares of the industrial products company’s stock worth $36,000 after buying an additional 269 shares during the period. Finally, Catalyst Capital Advisors LLC purchased a new position in Emerson Electric during the 3rd quarter worth approximately $43,000. 74.30% of the stock is currently owned by institutional investors and hedge funds.

Emerson Electric Price Performance

Shares of NYSE EMR opened at $117.67 on Wednesday. The company has a quick ratio of 0.86, a current ratio of 1.16 and a debt-to-equity ratio of 0.27. Emerson Electric Co. has a 52 week low of $83.10 and a 52 week high of $119.61. The firm has a 50-day simple moving average of $107.04 and a 200-day simple moving average of $108.92. The stock has a market capitalization of $67.39 billion, a price-to-earnings ratio of 39.49, a price-to-earnings-growth ratio of 1.66 and a beta of 1.30.

Emerson Electric (NYSE:EMR) last issued its quarterly earnings data on Wednesday, August 7th. The industrial products company reported $1.43 earnings per share for the quarter, topping the consensus estimate of $1.42 by $0.01. The company had revenue of $4.38 billion during the quarter, compared to analyst estimates of $4.44 billion. Emerson Electric had a return on equity of 11.41% and a net margin of 10.12%. The firm’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 posted $1.29 earnings per share. On average, equities analysts predict that Emerson Electric Co. will post 5.48 earnings per share for the current fiscal year.

Emerson Electric Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Friday, November 15th will be given a dividend of $0.5275 per share. The ex-dividend date is Friday, November 15th. This is a boost from Emerson Electric’s previous quarterly dividend of $0.53. This represents a $2.11 dividend on an annualized basis and a dividend yield of 1.79%. Emerson Electric’s dividend payout ratio (DPR) is currently 70.47%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on EMR. Morgan Stanley initiated coverage on shares of Emerson Electric in a research note on Friday, September 6th. They issued an “underweight” rating and a $105.00 price objective on the stock. Barclays decreased their price objective on Emerson Electric from $110.00 to $103.00 and set an “equal weight” rating for the company in a report on Thursday, August 8th. JPMorgan Chase & Co. lowered Emerson Electric from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $132.00 to $115.00 in a report on Wednesday, August 14th. StockNews.com lowered Emerson Electric from a “buy” rating to a “hold” rating in a research report on Thursday, July 25th. Finally, Wells Fargo & Company decreased their target price on shares of Emerson Electric from $137.00 to $128.00 and set an “overweight” rating for the company in a research note on Thursday, August 8th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $125.53.

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.