Patten & Patten Inc. TN Trims Stake in Emerson Electric Co. $EMR

Patten & Patten Inc. TN trimmed its stake in Emerson Electric Co. (NYSE:EMR) by 5.2% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,140 shares of the industrial products company’s stock after selling 552 shares during the period. Patten & Patten Inc. TN’s holdings in Emerson Electric were worth $1,352,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Wellington Management Group LLP increased its stake in shares of Emerson Electric by 6.9% in the 1st quarter. Wellington Management Group LLP now owns 15,280,950 shares of the industrial products company’s stock worth $1,675,403,000 after purchasing an additional 980,652 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of Emerson Electric by 9.3% in the 1st quarter. JPMorgan Chase & Co. now owns 7,166,817 shares of the industrial products company’s stock worth $785,770,000 after purchasing an additional 611,105 shares in the last quarter. Nuveen LLC purchased a new stake in shares of Emerson Electric in the 1st quarter worth $737,318,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of Emerson Electric by 5.8% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,086,580 shares of the industrial products company’s stock worth $448,053,000 after purchasing an additional 223,831 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its stake in shares of Emerson Electric by 18.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 3,793,436 shares of the industrial products company’s stock worth $415,912,000 after purchasing an additional 579,653 shares in the last quarter. 74.30% of the stock is currently owned by hedge funds and other institutional investors.

Emerson Electric Trading Down 1.1%

EMR opened at $128.85 on Friday. The firm has a market cap of $72.52 billion, a P/E ratio of 27.71, a P/E/G ratio of 2.26 and a beta of 1.29. Emerson Electric Co. has a 12 month low of $90.06 and a 12 month high of $150.27. The company has a current ratio of 0.85, a quick ratio of 0.63 and a debt-to-equity ratio of 0.42. The stock has a 50-day moving average of $132.00 and a 200 day moving average of $125.67.

Emerson Electric (NYSE:EMR) last released its quarterly earnings results on Thursday, April 6th. The industrial products company reported $0.79 EPS for the quarter. The company 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, research analysts forecast that Emerson Electric Co. will post 5.96 EPS for the current year.

Emerson Electric Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Friday, August 15th were paid a $0.5275 dividend. The ex-dividend date of this dividend was Friday, August 15th. This represents a $2.11 annualized dividend and a yield of 1.6%. Emerson Electric’s dividend payout ratio (DPR) is presently 45.38%.

Analysts Set New Price Targets

A number of research firms have commented on EMR. Barclays raised Emerson Electric from an “underweight” rating to an “equal weight” rating and raised their price target for the company from $125.00 to $127.00 in a report on Thursday, August 7th. JPMorgan Chase & Co. raised their price target on Emerson Electric from $135.00 to $151.00 and gave the company a “neutral” rating in a report on Wednesday. Deutsche Bank Aktiengesellschaft raised their price target on Emerson Electric from $157.00 to $159.00 and gave the company a “buy” rating in a report on Thursday, October 2nd. TD Cowen raised Emerson Electric to a “strong-buy” rating in a report on Tuesday, July 8th. Finally, Stephens raised their price target on Emerson Electric from $130.00 to $145.00 and gave the company an “equal weight” rating in a report on Wednesday, July 16th. Two analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Emerson Electric currently has a consensus rating of “Moderate Buy” and an average price target of $146.56.

About Emerson Electric

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.