RNC Capital Management LLC Has $61.53 Million Position in Emerson Electric Co. $EMR

RNC Capital Management LLC trimmed its position in Emerson Electric Co. (NYSE:EMR) by 1.5% in the second quarter, according to its most recent filing with the SEC. The fund owned 461,486 shares of the industrial products company’s stock after selling 6,964 shares during the period. Emerson Electric accounts for approximately 3.0% of RNC Capital Management LLC’s investment portfolio, making the stock its 10th biggest position. RNC Capital Management LLC owned 0.08% of Emerson Electric worth $61,530,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Forum Financial Management LP increased its holdings in Emerson Electric by 8.1% in the second quarter. Forum Financial Management LP now owns 5,892 shares of the industrial products company’s stock valued at $786,000 after purchasing an additional 442 shares during the period. Ethic Inc. increased its holdings in Emerson Electric by 13.6% in the second quarter. Ethic Inc. now owns 74,996 shares of the industrial products company’s stock valued at $9,987,000 after purchasing an additional 9,005 shares during the period. Members Trust Co acquired a new stake in Emerson Electric in the second quarter valued at $295,000. Brookstone Capital Management increased its holdings in Emerson Electric by 6.7% in the second quarter. Brookstone Capital Management now owns 15,018 shares of the industrial products company’s stock valued at $2,002,000 after purchasing an additional 949 shares during the period. Finally, St. James Investment Company LLC increased its holdings in Emerson Electric by 4,770.2% in the second quarter. St. James Investment Company LLC now owns 126,868 shares of the industrial products company’s stock valued at $16,915,000 after purchasing an additional 124,263 shares during the period. 74.30% of the stock is currently owned by institutional investors.

Emerson Electric Price Performance

Shares of NYSE EMR opened at $130.00 on Thursday. Emerson Electric Co. has a fifty-two week low of $90.06 and a fifty-two week high of $150.27. The stock has a market cap of $73.17 billion, a price-to-earnings ratio of 27.96, a PEG ratio of 2.29 and a beta of 1.29. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.63 and a current ratio of 0.85. The firm’s 50-day simple moving average is $131.78 and its 200 day simple moving average is $126.39.

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

Emerson Electric Announces Dividend

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

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Wells Fargo & Company reiterated an “equal weight” rating and set a $140.00 price target (down from $150.00) on shares of Emerson Electric in a report on Monday, October 6th. KeyCorp increased their price target on Emerson Electric from $150.00 to $155.00 and gave the stock an “overweight” rating in a report on Tuesday, July 1st. Citigroup increased their price target on Emerson Electric from $146.00 to $165.00 and gave the stock a “buy” rating in a report on Monday, July 14th. Bank of America increased their price target on Emerson Electric from $130.00 to $155.00 and gave the stock a “buy” rating in a report on Wednesday, July 2nd. Finally, Deutsche Bank Aktiengesellschaft increased their price target on Emerson Electric from $157.00 to $159.00 and gave the stock a “buy” rating in a report on Thursday, October 2nd. 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 given a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $148.28.

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.