Emerson Electric Co. (NYSE:EMR) Stake Reduced by Salem Investment Counselors Inc.

Salem Investment Counselors Inc. cut its holdings in Emerson Electric Co. (NYSE:EMR) by 3.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 13,766 shares of the industrial products company’s stock after selling 495 shares during the quarter. Salem Investment Counselors Inc.’s holdings in Emerson Electric were worth $1,509,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. Mcdonald Partners LLC increased its position in shares of Emerson Electric by 0.6% during the 4th quarter. Mcdonald Partners LLC now owns 14,207 shares of the industrial products company’s stock worth $1,761,000 after purchasing an additional 81 shares during the last quarter. Little House Capital LLC increased its position in shares of Emerson Electric by 0.5% during the 4th quarter. Little House Capital LLC now owns 17,009 shares of the industrial products company’s stock worth $2,108,000 after purchasing an additional 89 shares during the last quarter. Pittenger & Anderson Inc. increased its position in shares of Emerson Electric by 0.3% during the 4th quarter. Pittenger & Anderson Inc. now owns 36,035 shares of the industrial products company’s stock worth $4,466,000 after purchasing an additional 95 shares during the last quarter. Unison Advisors LLC increased its position in shares of Emerson Electric by 0.5% during the 4th quarter. Unison Advisors LLC now owns 21,213 shares of the industrial products company’s stock worth $2,629,000 after purchasing an additional 98 shares during the last quarter. Finally, Redmond Asset Management LLC increased its position in shares of Emerson Electric by 4.6% during the 4th quarter. Redmond Asset Management LLC now owns 2,260 shares of the industrial products company’s stock worth $280,000 after purchasing an additional 100 shares during the last quarter. 74.30% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Emerson Electric

In other news, CEO Surendralal Lanca Karsanbhai sold 16,698 shares of Emerson Electric stock in a transaction on Thursday, May 8th. The stock was sold at an average price of $113.33, for a total value of $1,892,384.34. Following the transaction, the chief executive officer now owns 164,957 shares in the company, valued at approximately $18,694,576.81. This trade represents a 9.19% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.50% of the company’s stock.

Emerson Electric Price Performance

Shares of NYSE EMR opened at $125.45 on Friday. The stock has a market capitalization of $70.57 billion, a PE ratio of 29.94, a P/E/G ratio of 2.49 and a beta of 1.28. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.54 and a quick ratio of 1.17. The business has a fifty day moving average price of $112.36 and a two-hundred day moving average price of $118.42. 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 announced its quarterly earnings data on Wednesday, May 7th. The industrial products company reported $1.48 earnings per share for the quarter, beating the consensus estimate of $1.41 by $0.07. The firm had revenue of $4.43 billion during the quarter, compared to analysts’ expectations of $4.42 billion. Emerson Electric had a return on equity of 12.08% and a net margin of 13.74%. The company’s quarterly revenue was up 1.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.36 EPS. As a group, equities analysts predict that Emerson Electric Co. will post 5.96 earnings per share for the current fiscal year.

Emerson Electric Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Friday, May 16th were issued a $0.5275 dividend. The ex-dividend date of this dividend was Friday, May 16th. This represents a $2.11 annualized dividend and a yield of 1.68%. Emerson Electric’s dividend payout ratio is presently 50.48%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on EMR. Wells Fargo & Company lifted their target price on Emerson Electric from $121.00 to $135.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 21st. Barclays lifted their target price on Emerson Electric from $112.00 to $118.00 and gave the stock an “underweight” rating in a research note on Monday, June 9th. KeyCorp lifted their target price on Emerson Electric from $125.00 to $150.00 and gave the stock an “overweight” rating in a research note on Friday. Royal Bank of Canada lifted their target price on Emerson Electric from $123.00 to $124.00 and gave the stock an “outperform” rating in a research note on Thursday, May 8th. Finally, JPMorgan Chase & Co. lifted their target price on Emerson Electric from $113.00 to $133.00 and gave the stock a “neutral” rating in a research note on Friday, May 16th. Two research analysts have rated the stock with a sell rating, four have given a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $136.47.

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.