Granite Harbor Advisors Inc. Sells 950 Shares of Emerson Electric Co. (NYSE:EMR)

Granite Harbor Advisors Inc. lessened its holdings in Emerson Electric Co. (NYSE:EMR) by 11.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,419 shares of the industrial products company’s stock after selling 950 shares during the quarter. Granite Harbor Advisors Inc.’s holdings in Emerson Electric were worth $811,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. ORG Wealth Partners LLC bought a new stake in Emerson Electric in the 3rd quarter valued at $443,000. Thurston Springer Miller Herd & Titak Inc. grew its holdings in shares of Emerson Electric by 10.7% in the 3rd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 13,936 shares of the industrial products company’s stock worth $1,524,000 after purchasing an additional 1,351 shares during the last quarter. Orca Investment Management LLC grew its holdings in shares of Emerson Electric by 13.7% in the 3rd quarter. Orca Investment Management LLC now owns 4,445 shares of the industrial products company’s stock worth $486,000 after purchasing an additional 537 shares during the last quarter. Woodstock Corp grew its holdings in shares of Emerson Electric by 1.2% in the 3rd quarter. Woodstock Corp now owns 93,345 shares of the industrial products company’s stock worth $10,209,000 after purchasing an additional 1,122 shares during the last quarter. Finally, MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH grew its holdings in shares of Emerson Electric by 15.0% in the 3rd quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 430,779 shares of the industrial products company’s stock worth $47,114,000 after purchasing an additional 56,187 shares during the last quarter. Institutional investors own 74.30% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on EMR shares. StockNews.com lowered shares of Emerson Electric from a “buy” rating to a “hold” rating in a report on Thursday, July 25th. Barclays reduced their price target on shares of Emerson Electric from $110.00 to $103.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 8th. Oppenheimer upped their price target on shares of Emerson Electric from $120.00 to $125.00 and gave the stock an “outperform” rating in a research report on Thursday, September 26th. Royal Bank of Canada reduced their price target on shares of Emerson Electric from $140.00 to $139.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. Finally, JPMorgan Chase & Co. downgraded shares of Emerson Electric from an “overweight” rating to a “neutral” rating and reduced their price target for the stock from $132.00 to $115.00 in a research report on Wednesday, August 14th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $124.59.

Emerson Electric Stock Performance

Shares of NYSE:EMR remained flat at $112.06 during mid-day trading on Monday. 149,888 shares of the company were exchanged, compared to its average volume of 2,712,912. The stock has a fifty day moving average of $105.03 and a 200 day moving average of $109.24. Emerson Electric Co. has a 1-year low of $83.10 and a 1-year high of $119.53. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.86 and a current ratio of 1.16. The company has a market cap of $64.11 billion, a price-to-earnings ratio of 6.00, a PEG ratio of 1.70 and a beta of 1.30.

Emerson Electric (NYSE:EMR) last posted its earnings results on Wednesday, August 7th. The industrial products company reported $1.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.42 by $0.01. Emerson Electric had a return on equity of 11.41% and a net margin of 10.12%. The business had revenue of $4.38 billion during the quarter, compared to analysts’ expectations of $4.44 billion. During the same period in the prior year, the business earned $1.29 EPS. Emerson Electric’s revenue for the quarter was up 11.0% compared to the same quarter last year. On average, equities analysts anticipate that Emerson Electric Co. will post 5.48 EPS for the current fiscal year.

Emerson Electric Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Friday, August 16th were paid a dividend of $0.525 per share. The ex-dividend date of this dividend was Friday, August 16th. This represents a $2.10 annualized dividend and a dividend yield of 1.87%. Emerson Electric’s dividend payout ratio is currently 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.