Emerson Electric Co. $EMR Shares Sold by Griffin Asset Management Inc.

Griffin Asset Management Inc. lessened its holdings in Emerson Electric Co. (NYSE:EMR) by 0.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 18,778 shares of the industrial products company’s stock after selling 143 shares during the quarter. Griffin Asset Management Inc.’s holdings in Emerson Electric were worth $2,504,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Saudi Central Bank purchased a new stake in Emerson Electric in the 1st quarter worth approximately $25,000. MJT & Associates Financial Advisory Group Inc. purchased a new stake in Emerson Electric in the 1st quarter worth approximately $27,000. Inlight Wealth Management LLC purchased a new stake in Emerson Electric in the 1st quarter worth approximately $28,000. Fourth Dimension Wealth LLC boosted its position in Emerson Electric by 145.3% in the 1st quarter. Fourth Dimension Wealth LLC now owns 260 shares of the industrial products company’s stock worth $29,000 after purchasing an additional 154 shares in the last quarter. Finally, Garde Capital Inc. purchased a new stake in Emerson Electric in the 1st quarter worth approximately $36,000. Institutional investors and hedge funds own 74.30% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on EMR. Stephens increased their target price on Emerson Electric from $130.00 to $145.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 16th. Jefferies Financial Group decreased their target price on Emerson Electric from $160.00 to $155.00 and set a “buy” rating on the stock in a research report on Tuesday, October 7th. KeyCorp increased their target price on Emerson Electric from $150.00 to $155.00 and gave the company an “overweight” rating in a research report on Tuesday, July 1st. Bank of America increased their target price on Emerson Electric from $130.00 to $155.00 and gave the company a “buy” rating in a research report on Wednesday, July 2nd. Finally, Wolfe Research decreased their target price on Emerson Electric from $173.00 to $172.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 8th. Two analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $145.56.

Emerson Electric Stock Down 4.2%

Shares of EMR opened at $125.99 on Monday. The stock has a fifty day simple moving average of $132.66 and a two-hundred day simple moving average of $125.34. The company has a quick ratio of 0.63, a current ratio of 0.85 and a debt-to-equity ratio of 0.42. The company has a market capitalization of $70.91 billion, a PE ratio of 27.09, a price-to-earnings-growth ratio of 2.19 and a beta of 1.29. Emerson Electric Co. has a 52-week low of $90.06 and a 52-week high of $150.27.

Emerson Electric (NYSE:EMR) last issued its quarterly earnings data on Thursday, April 6th. The industrial products company reported $0.79 earnings per share (EPS) for the quarter. The firm had revenue of $3.16 billion during the quarter. Emerson Electric had a return on equity of 14.34% and a net margin of 14.92%. As a group, equities analysts forecast that Emerson Electric Co. will post 5.96 EPS for the current year.

Emerson Electric Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Friday, August 15th were paid a $0.5275 dividend. This represents a $2.11 annualized dividend and a dividend yield of 1.7%. The ex-dividend date was Friday, August 15th. Emerson Electric’s dividend payout ratio (DPR) is presently 45.38%.

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.