InTrack Investment Management Inc Sells 3,991 Shares of Emerson Electric Co. (NYSE:EMR)

InTrack Investment Management Inc reduced its position in shares of Emerson Electric Co. (NYSE:EMR) by 66.9% during the 1st quarter, HoldingsChannel.com reports. The firm owned 1,978 shares of the industrial products company’s stock after selling 3,991 shares during the quarter. InTrack Investment Management Inc’s holdings in Emerson Electric were worth $217,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Brighton Jones LLC raised its stake in shares of Emerson Electric by 74.1% during the fourth quarter. Brighton Jones LLC now owns 11,392 shares of the industrial products company’s stock valued at $1,412,000 after acquiring an additional 4,850 shares during the last quarter. Strategic Financial Concepts LLC bought a new position in Emerson Electric during the 4th quarter worth $2,169,000. Angeles Wealth Management LLC acquired a new position in Emerson Electric during the 4th quarter worth about $226,000. Soltis Investment Advisors LLC grew its position in shares of Emerson Electric by 4.8% in the 4th quarter. Soltis Investment Advisors LLC now owns 2,563 shares of the industrial products company’s stock valued at $318,000 after buying an additional 117 shares during the last quarter. Finally, Pineridge Advisors LLC increased its stake in shares of Emerson Electric by 16.9% in the fourth quarter. Pineridge Advisors LLC now owns 3,363 shares of the industrial products company’s stock valued at $417,000 after buying an additional 485 shares during the period. Institutional investors and hedge funds own 74.30% of the company’s stock.

Insider Buying and Selling

In related news, CEO Surendralal Lanca Karsanbhai sold 16,698 shares of the company’s stock in a transaction on Thursday, May 8th. The stock was 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 in the company, valued at approximately $18,694,576.81. This represents a 9.19% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.50% of the stock is currently owned by company insiders.

Emerson Electric Stock Up 1.1%

EMR stock opened at $126.98 on Wednesday. The stock’s 50 day simple moving average is $110.49 and its 200 day simple moving average is $118.46. The company has a market cap of $71.43 billion, a P/E ratio of 30.31, a price-to-earnings-growth ratio of 2.49 and a beta of 1.28. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.17 and a current ratio of 1.54. Emerson Electric Co. has a fifty-two week low of $90.06 and a fifty-two week high of $134.85.

Emerson Electric (NYSE:EMR) last issued its earnings results on Wednesday, May 7th. The industrial products company reported $1.48 earnings per share 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 company had revenue of $4.43 billion for the quarter, compared to analyst estimates of $4.42 billion. During the same period in the prior year, the firm earned $1.36 earnings per share. Emerson Electric’s revenue for the quarter was up 1.3% on a year-over-year basis. On average, research analysts expect that Emerson Electric Co. will post 5.96 earnings per share for the current fiscal year.

Emerson Electric Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Friday, May 16th were given a dividend of $0.5275 per share. This represents a $2.11 annualized dividend and a dividend yield of 1.66%. The ex-dividend date of this dividend was Friday, May 16th. Emerson Electric’s payout ratio is presently 50.48%.

Analyst Ratings Changes

Several analysts recently commented on EMR shares. Barclays upped their target price on Emerson Electric from $112.00 to $118.00 and gave the company an “underweight” rating in a report on Monday. Robert W. Baird dropped their price target on shares of Emerson Electric from $140.00 to $130.00 and set a “neutral” rating on the stock in a research report on Thursday, May 8th. Royal Bank of Canada increased their price objective on shares of Emerson Electric from $123.00 to $124.00 and gave the stock an “outperform” rating in a research report on Thursday, May 8th. JPMorgan Chase & Co. boosted their target price on shares of Emerson Electric from $113.00 to $133.00 and gave the company a “neutral” rating in a report on Friday, May 16th. Finally, Wells Fargo & Company increased their price target on Emerson Electric from $121.00 to $135.00 and gave the stock an “overweight” rating in a report on Wednesday, May 21st. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $135.00.

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.