Pittenger & Anderson Inc. Has $4.04 Million Stock Position in Emerson Electric Co. (NYSE:EMR)

Pittenger & Anderson Inc. raised its holdings in Emerson Electric Co. (NYSE:EMR) by 2.2% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 36,830 shares of the industrial products company’s stock after acquiring an additional 795 shares during the quarter. Pittenger & Anderson Inc.’s holdings in Emerson Electric were worth $4,038,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its position in Emerson Electric by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 53,536,974 shares of the industrial products company’s stock valued at $6,634,837,000 after acquiring an additional 384,313 shares during the period. Geode Capital Management LLC increased its position in Emerson Electric by 2.0% in the 4th quarter. Geode Capital Management LLC now owns 11,685,615 shares of the industrial products company’s stock valued at $1,443,725,000 after acquiring an additional 232,540 shares during the period. Norges Bank acquired a new position in Emerson Electric in the 4th quarter valued at approximately $885,886,000. Northern Trust Corp increased its position in Emerson Electric by 5.9% in the 4th quarter. Northern Trust Corp now owns 6,676,168 shares of the industrial products company’s stock valued at $827,377,000 after acquiring an additional 370,560 shares during the period. Finally, Schroder Investment Management Group boosted its stake in shares of Emerson Electric by 4.1% in the 4th quarter. Schroder Investment Management Group now owns 4,376,492 shares of the industrial products company’s stock valued at $542,379,000 after purchasing an additional 171,946 shares during the last quarter. 74.30% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have recently commented on EMR. Citigroup upped their price objective on shares of Emerson Electric from $133.00 to $146.00 and gave the company a “buy” rating in a research note on Wednesday, June 4th. TD Cowen raised shares of Emerson Electric to a “strong-buy” rating in a research note on Tuesday, July 8th. JPMorgan Chase & Co. upped their price objective on shares of Emerson Electric from $113.00 to $133.00 and gave the company a “neutral” rating in a research note on Friday, May 16th. Wells Fargo & Company upped their price objective on shares of Emerson Electric from $135.00 to $150.00 and gave the company an “overweight” rating in a research note on Tuesday, July 1st. Finally, Wall Street Zen raised shares of Emerson Electric from a “hold” rating to a “buy” rating in a research note on Friday, May 9th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Emerson Electric has a consensus rating of “Moderate Buy” and an average price target of $139.83.

Emerson Electric Stock Performance

EMR opened at $140.07 on Friday. The company has a current ratio of 0.80, a quick ratio of 0.59 and a debt-to-equity ratio of 0.42. The company’s fifty day moving average price is $125.11 and its two-hundred day moving average price is $118.95. Emerson Electric Co. has a 1-year low of $90.06 and a 1-year high of $142.32. The company has a market cap of $78.79 billion, a price-to-earnings ratio of 33.51, a PEG ratio of 2.72 and a beta of 1.29.

Emerson Electric (NYSE:EMR) last released its quarterly earnings data on Wednesday, May 7th. The industrial products company reported $1.48 earnings per share for the quarter, topping the consensus estimate of $1.41 by $0.07. Emerson Electric had a net margin of 13.60% and a return on equity of 13.22%. The firm had revenue of $4.43 billion for the quarter, compared to the consensus estimate of $4.42 billion. During the same quarter in the prior year, the company posted $1.36 earnings per share. The business’s revenue was up 1.3% on a year-over-year basis. On average, analysts expect 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 issued a $0.5275 dividend. The ex-dividend date was Friday, May 16th. This represents a $2.11 annualized dividend and a dividend yield of 1.51%. Emerson Electric’s dividend payout ratio is currently 50.48%.

Insider Activity at Emerson Electric

In other news, CEO Surendralal Lanca Karsanbhai sold 16,698 shares of the stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $113.33, for a total value of $1,892,384.34. Following the completion of the sale, the chief executive officer owned 164,957 shares in the company, valued at $18,694,576.81. This represents a 9.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.50% of the stock is currently owned by corporate insiders.

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.