Emerson Electric Co. (NYSE:EMR) Shares Bought by Essex Savings Bank

Essex Savings Bank increased its stake in Emerson Electric Co. (NYSE:EMR) by 2.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 9,299 shares of the industrial products company’s stock after purchasing an additional 180 shares during the period. Essex Savings Bank’s holdings in Emerson Electric were worth $1,020,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Orion Capital Management LLC acquired a new position in shares of Emerson Electric during the fourth quarter valued at $25,000. Vega Investment Solutions acquired a new position in Emerson Electric during the 4th quarter valued at about $27,000. Murphy & Mullick Capital Management Corp bought a new position in Emerson Electric in the 4th quarter worth about $28,000. Ameriflex Group Inc. bought a new stake in shares of Emerson Electric during the fourth quarter valued at approximately $30,000. Finally, Meeder Asset Management Inc. boosted its position in shares of Emerson Electric by 208.2% during the fourth quarter. Meeder Asset Management Inc. now owns 299 shares of the industrial products company’s stock worth $37,000 after buying an additional 202 shares during the period. Institutional investors and hedge funds own 74.30% of the company’s stock.

Analyst Ratings Changes

EMR has been the topic of several analyst reports. Barclays raised their target price on Emerson Electric from $112.00 to $118.00 and gave the company an “underweight” rating in a research report on Monday, June 9th. Royal Bank Of Canada lifted their price objective on shares of Emerson Electric from $123.00 to $124.00 and gave the company an “outperform” rating in a research note on Thursday, May 8th. Robert W. Baird reduced their price objective on shares of Emerson Electric from $140.00 to $130.00 and set a “neutral” rating for the company in a report on Thursday, May 8th. Wall Street Zen raised shares of Emerson Electric from a “hold” rating to a “buy” rating in a research note on Friday, May 9th. Finally, JPMorgan Chase & Co. upped their price target on shares of Emerson Electric from $113.00 to $133.00 and gave the stock a “neutral” rating in a research note on Friday, May 16th. Two equities research 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’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $136.47.

Insider Activity

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 transaction, the chief executive officer now directly owns 164,957 shares of the company’s stock, valued at approximately $18,694,576.81. The trade was a 9.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.50% of the stock is owned by company insiders.

Emerson Electric Price Performance

Shares of NYSE:EMR opened at $127.55 on Wednesday. The company has a market capitalization of $71.75 billion, a PE ratio of 30.51, a price-to-earnings-growth ratio of 2.54 and a beta of 1.28. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.59 and a current ratio of 0.80. The stock has a fifty day moving average of $113.52 and a 200-day moving average of $118.26. Emerson Electric Co. has a one year low of $90.06 and a one year high of $134.85.

Emerson Electric (NYSE:EMR) last announced its earnings results on Wednesday, May 7th. The industrial products company reported $1.48 EPS for the quarter, beating the consensus estimate of $1.41 by $0.07. The business had revenue of $4.43 billion during the quarter, compared to the consensus estimate of $4.42 billion. Emerson Electric had a return on equity of 13.22% and a net margin of 13.60%. Emerson Electric’s revenue was up 1.3% compared to the same quarter last year. During the same period in the prior year, the business posted $1.36 earnings per share. As a group, equities analysts anticipate that Emerson Electric Co. will post 5.96 EPS for the current fiscal year.

Emerson Electric Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Friday, May 16th were given a $0.5275 dividend. This represents a $2.11 annualized dividend and a dividend yield of 1.65%. The ex-dividend date was Friday, May 16th. Emerson Electric’s dividend payout ratio (DPR) is currently 50.48%.

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.