Pittenger & Anderson Inc. Trims Stock Position in Emerson Electric Co. (NYSE:EMR)

Pittenger & Anderson Inc. lessened its holdings in shares of Emerson Electric Co. (NYSE:EMRGet Rating) by 19.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,231 shares of the industrial products company’s stock after selling 530 shares during the period. Pittenger & Anderson Inc.’s holdings in Emerson Electric were worth $177,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in EMR. Gibson Wealth Advisors LLC purchased a new position in Emerson Electric in the fourth quarter valued at $37,000. Offit Capital Advisors LLC increased its holdings in Emerson Electric by 9.0% in the first quarter. Offit Capital Advisors LLC now owns 3,098 shares of the industrial products company’s stock valued at $304,000 after buying an additional 256 shares in the last quarter. California State Teachers Retirement System increased its holdings in Emerson Electric by 3.7% in the fourth quarter. California State Teachers Retirement System now owns 1,082,820 shares of the industrial products company’s stock valued at $100,670,000 after buying an additional 38,949 shares in the last quarter. Fort Washington Investment Advisors Inc. OH increased its holdings in Emerson Electric by 8.7% in the first quarter. Fort Washington Investment Advisors Inc. OH now owns 6,862 shares of the industrial products company’s stock valued at $673,000 after buying an additional 550 shares in the last quarter. Finally, Stonnington Group LLC increased its holdings in Emerson Electric by 4.4% in the first quarter. Stonnington Group LLC now owns 44,577 shares of the industrial products company’s stock valued at $4,154,000 after buying an additional 1,865 shares in the last quarter. Hedge funds and other institutional investors own 72.75% of the company’s stock.

Emerson Electric Stock Performance

NYSE:EMR opened at $75.53 on Friday. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.06 and a quick ratio of 0.80. The firm has a market capitalization of $44.66 billion, a price-to-earnings ratio of 14.30, a PEG ratio of 1.78 and a beta of 1.42. The company’s 50-day moving average is $84.77 and its two-hundred day moving average is $87.42. Emerson Electric Co. has a 1-year low of $75.50 and a 1-year high of $100.47.

Emerson Electric (NYSE:EMRGet Rating) last posted its earnings results on Tuesday, August 9th. The industrial products company reported $1.38 earnings per share for the quarter, beating the consensus estimate of $1.29 by $0.09. The company had revenue of $5 billion for the quarter, compared to analyst estimates of $5.10 billion. Emerson Electric had a net margin of 16.45% and a return on equity of 25.06%. Emerson Electric’s revenue was up 6.5% on a year-over-year basis. During the same period in the previous year, the business posted $1.09 EPS. Analysts forecast that Emerson Electric Co. will post 5.11 EPS for the current year.

Emerson Electric Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 9th. Shareholders of record on Friday, August 12th were issued a $0.515 dividend. The ex-dividend date was Thursday, August 11th. This represents a $2.06 annualized dividend and a yield of 2.73%. Emerson Electric’s payout ratio is 39.02%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on EMR. Sanford C. Bernstein cut their target price on shares of Emerson Electric from $105.00 to $100.00 and set a “mkt perform” rating for the company in a research note on Wednesday, August 17th. William Blair reissued a “market perform” rating on shares of Emerson Electric in a research note on Tuesday, August 9th. Barclays cut their target price on shares of Emerson Electric from $87.00 to $80.00 and set an “equal weight” rating for the company in a research note on Friday, July 8th. Argus boosted their target price on shares of Emerson Electric from $95.00 to $98.00 and gave the stock a “buy” rating in a research note on Tuesday, August 16th. Finally, Credit Suisse Group cut their target price on shares of Emerson Electric from $107.00 to $106.00 and set an “outperform” rating for the company in a research note on Wednesday, August 10th. Six analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Emerson Electric has an average rating of “Moderate Buy” and a consensus price target of $98.77.

Emerson Electric Profile

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Emerson Electric Co, a technology and engineering company, provides various solutions for customers in industrial, commercial, and residential markets in the Americas, Asia, the Middle East, Africa, and Europe. The company operates through Automation Solutions, and Commercial & Residential Solutions segments.

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Institutional Ownership by Quarter for Emerson Electric (NYSE:EMR)

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