Emerson Electric Co. (NYSE:EMR) Shares Sold by First Interstate Bank

by · The Markets Daily

First Interstate Bank lessened its holdings in shares of Emerson Electric Co. (NYSE:EMR – Free Report) by 4.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 26,748 shares of the industrial products company’s stock after selling 1,142 shares during the period. First Interstate Bank’s holdings in Emerson Electric were worth $2,925,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. SG Americas Securities LLC grew its stake in shares of Emerson Electric by 183.6% during the first quarter. SG Americas Securities LLC now owns 81,875 shares of the industrial products company’s stock worth $9,286,000 after acquiring an additional 53,003 shares during the last quarter. Farther Finance Advisors LLC increased its stake in Emerson Electric by 55.0% during the 2nd quarter. Farther Finance Advisors LLC now owns 8,619 shares of the industrial products company’s stock valued at $931,000 after purchasing an additional 3,060 shares in the last quarter. Daiwa Securities Group Inc. raised its holdings in shares of Emerson Electric by 17.8% in the first quarter. Daiwa Securities Group Inc. now owns 100,029 shares of the industrial products company’s stock worth $11,345,000 after buying an additional 15,098 shares during the last quarter. Montag A & Associates Inc. lifted its stake in shares of Emerson Electric by 122.4% during the first quarter. Montag A & Associates Inc. now owns 18,775 shares of the industrial products company’s stock worth $2,129,000 after buying an additional 10,333 shares during the period. Finally, Bank of Montreal Can increased its position in shares of Emerson Electric by 17.0% in the 2nd quarter. Bank of Montreal Can now owns 1,339,301 shares of the industrial products company’s stock valued at $152,359,000 after acquiring an additional 194,944 shares during the period. 74.30% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Stephens downgraded Emerson Electric from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $135.00 to $120.00 in a research note on Wednesday, October 16th. Redburn Atlantic began coverage on shares of Emerson Electric in a research report on Monday, July 8th. They set a “buy” rating and a $135.00 price target for the company. Morgan Stanley initiated coverage on shares of Emerson Electric in a report on Friday, September 6th. They issued an “underweight” rating and a $105.00 price objective on the stock. Barclays reduced their target price on shares of Emerson Electric from $110.00 to $103.00 and set an “equal weight” rating for the company in a report on Thursday, August 8th. Finally, Royal Bank of Canada lowered their price target on shares of Emerson Electric from $140.00 to $139.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $125.47.

View Our Latest Report on Emerson Electric

Emerson Electric Price Performance

NYSE EMR traded up $0.19 on Friday, hitting $108.46. The company had a trading volume of 1,853,615 shares, compared to its average volume of 2,683,223. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.16 and a quick ratio of 0.86. The company has a market capitalization of $62.12 billion, a PE ratio of 36.40, a PEG ratio of 1.67 and a beta of 1.30. Emerson Electric Co. has a 12-month low of $83.10 and a 12-month high of $119.53. The company’s fifty day moving average price is $106.66 and its 200-day moving average price is $108.88.

Emerson Electric (NYSE:EMR – Get Free Report) last issued its quarterly earnings results on Wednesday, August 7th. The industrial products company reported $1.43 earnings per share for the quarter, beating analysts’ consensus estimates of $1.42 by $0.01. Emerson Electric had a net margin of 10.12% and a return on equity of 11.41%. The firm had revenue of $4.38 billion for the quarter, compared to analyst estimates of $4.44 billion. During the same period last year, the company posted $1.29 EPS. Emerson Electric’s quarterly revenue was up 11.0% compared to the same quarter last year. As a group, analysts predict that Emerson Electric Co. will post 5.48 earnings per share for the current year.

Emerson Electric Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Friday, August 16th were issued a $0.525 dividend. The ex-dividend date was Friday, August 16th. This represents a $2.10 dividend on an annualized basis and a yield of 1.94%. Emerson Electric’s payout ratio is currently 70.47%.

Emerson Electric Company Profile

(Free Report)

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.

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