Hoey Investments Inc. Decreases Stock Position in Emerson Electric Co. (NYSE:EMR)

Hoey Investments Inc. cut its holdings in Emerson Electric Co. (NYSE:EMR) by 8.4% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 9,945 shares of the industrial products company’s stock after selling 913 shares during the period. Emerson Electric comprises 0.2% of Hoey Investments Inc.’s holdings, making the stock its 23rd largest holding. Hoey Investments Inc.’s holdings in Emerson Electric were worth $1,090,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the business. Opal Wealth Advisors LLC bought a new stake in Emerson Electric during the 1st quarter valued at $66,000. Wealth Enhancement Advisory Services LLC boosted its holdings in Emerson Electric by 15.6% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 347,763 shares of the industrial products company’s stock worth $38,129,000 after buying an additional 46,998 shares during the last quarter. BNC Wealth Management LLC boosted its holdings in shares of Emerson Electric by 5.4% during the 1st quarter. BNC Wealth Management LLC now owns 21,889 shares of the industrial products company’s stock worth $2,400,000 after purchasing an additional 1,122 shares during the last quarter. Azzad Asset Management Inc. ADV acquired a new position in Emerson Electric in the first quarter valued at approximately $4,305,000. Finally, Goldstone Financial Group LLC raised its position in Emerson Electric by 6.5% in the first quarter. Goldstone Financial Group LLC now owns 4,434 shares of the industrial products company’s stock valued at $486,000 after purchasing an additional 272 shares during the period. 74.30% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Emerson Electric news, CEO Surendralal Lanca Karsanbhai sold 16,698 shares of Emerson Electric stock in a transaction on Thursday, May 8th. The shares were sold at an average price of $113.33, for a total transaction of $1,892,384.34. Following the completion of the sale, the chief executive officer now owns 164,957 shares of the company’s stock, valued at $18,694,576.81. This trade represents a 9.19% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 0.50% of the stock is owned by corporate insiders.

Emerson Electric Stock Down 1.0%

Shares of NYSE EMR opened at $125.45 on Friday. Emerson Electric Co. has a 12-month low of $90.06 and a 12-month high of $134.85. The company has a market cap of $70.57 billion, a P/E ratio of 29.94, a P/E/G ratio of 2.49 and a beta of 1.28. The company has a current ratio of 1.54, a quick ratio of 1.17 and a debt-to-equity ratio of 0.25. The stock has a fifty day moving average price of $112.36 and a 200 day moving average price of $118.42.

Emerson Electric (NYSE:EMR) last posted its quarterly earnings results on Wednesday, May 7th. The industrial products company reported $1.48 EPS for the quarter, topping analysts’ consensus estimates of $1.41 by $0.07. Emerson Electric had a return on equity of 12.08% and a net margin of 13.74%. The business had revenue of $4.43 billion during the quarter, compared to the consensus estimate of $4.42 billion. During the same period last year, the firm earned $1.36 earnings per share. The company’s revenue for the quarter was up 1.3% compared to the same quarter last year. Research analysts anticipate that Emerson Electric Co. will post 5.96 EPS for the current fiscal year.

Emerson Electric Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Friday, May 16th were issued a dividend of $0.5275 per share. The ex-dividend date of this dividend was Friday, May 16th. This represents a $2.11 annualized dividend and a yield of 1.68%. Emerson Electric’s payout ratio is 50.48%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Citigroup raised their price target on Emerson Electric from $133.00 to $146.00 and gave the company a “buy” rating in a research note on Wednesday, June 4th. KeyCorp boosted their target price on Emerson Electric from $125.00 to $150.00 and gave the stock an “overweight” rating in a research report on Friday. Royal Bank of Canada upped their price target on Emerson Electric from $123.00 to $124.00 and gave the stock an “outperform” rating in a report on Thursday, May 8th. Barclays upped their price target on Emerson Electric from $112.00 to $118.00 and gave the stock an “underweight” rating in a report on Monday, June 9th. Finally, Robert W. Baird lowered their target price on Emerson Electric from $140.00 to $130.00 and set a “neutral” rating on the stock in a report on Thursday, May 8th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $136.47.

Emerson Electric Company 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.