Emerson Electric Co. (NYSE:EMR) Shares Sold by CIBC Asset Management Inc

CIBC Asset Management Inc lowered its stake in Emerson Electric Co. (NYSE:EMR) by 1.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 108,130 shares of the industrial products company’s stock after selling 1,738 shares during the quarter. CIBC Asset Management Inc’s holdings in Emerson Electric were worth $11,912,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. American National Bank & Trust Co. VA acquired a new stake in Emerson Electric in the first quarter worth about $1,011,000. Vanguard Personalized Indexing Management LLC grew its holdings in shares of Emerson Electric by 23.8% in the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 48,321 shares of the industrial products company’s stock worth $4,703,000 after acquiring an additional 9,300 shares during the last quarter. Exencial Wealth Advisors LLC grew its holdings in shares of Emerson Electric by 17.6% in the 4th quarter. Exencial Wealth Advisors LLC now owns 49,112 shares of the industrial products company’s stock worth $4,780,000 after acquiring an additional 7,358 shares during the last quarter. Kingsview Wealth Management LLC grew its holdings in shares of Emerson Electric by 22.5% in the 4th quarter. Kingsview Wealth Management LLC now owns 62,197 shares of the industrial products company’s stock worth $6,054,000 after acquiring an additional 11,413 shares during the last quarter. Finally, Goelzer Investment Management Inc. grew its holdings in shares of Emerson Electric by 22.2% in the 4th quarter. Goelzer Investment Management Inc. now owns 7,701 shares of the industrial products company’s stock worth $750,000 after acquiring an additional 1,399 shares during the last quarter. Institutional investors and hedge funds own 74.30% of the company’s stock.

Analyst Upgrades and Downgrades

EMR has been the topic of a number of recent research reports. JPMorgan Chase & Co. cut Emerson Electric from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $132.00 to $115.00 in a report on Wednesday, August 14th. Redburn Atlantic assumed coverage on Emerson Electric in a report on Monday, July 8th. They issued a “buy” rating and a $135.00 target price on the stock. Mizuho raised their target price on Emerson Electric from $130.00 to $135.00 and gave the stock a “buy” rating in a research report on Thursday, May 9th. Robert W. Baird raised their target price on Emerson Electric from $116.00 to $117.00 and gave the stock a “neutral” rating in a research report on Thursday, August 8th. Finally, StockNews.com cut Emerson Electric from a “buy” rating to a “hold” rating in a research report on Thursday, July 25th. Five equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $125.18.

Emerson Electric Price Performance

Shares of NYSE:EMR opened at $102.02 on Wednesday. Emerson Electric Co. has a fifty-two week low of $83.10 and a fifty-two week high of $119.53. The business has a 50-day moving average of $109.20 and a two-hundred day moving average of $109.91. The stock has a market capitalization of $58.37 billion, a P/E ratio of 5.46, a P/E/G ratio of 1.75 and a beta of 1.32. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.16 and a quick ratio of 0.86.

Emerson Electric (NYSE:EMR) last announced its quarterly earnings results on Wednesday, August 7th. The industrial products company reported $1.43 earnings per share for the quarter, topping analysts’ consensus estimates of $1.42 by $0.01. Emerson Electric had a return on equity of 11.41% and a net margin of 10.12%. The company had revenue of $4.38 billion during the quarter, compared to analysts’ expectations of $4.44 billion. During the same quarter in the previous year, the firm earned $1.29 earnings per share. The business’s quarterly revenue was up 11.0% compared to the same quarter last year. On average, equities research analysts predict that Emerson Electric Co. will post 5.48 EPS for the current fiscal year.

Emerson Electric Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Friday, August 16th will be given a $0.525 dividend. The ex-dividend date of this dividend is Friday, August 16th. This represents a $2.10 dividend on an annualized basis and a dividend yield of 2.06%. Emerson Electric’s dividend payout ratio is currently 11.24%.

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.