Chemung Canal Trust Co. Has $9.26 Million Holdings in Emerson Electric Co. (NYSE:EMR)

Chemung Canal Trust Co. raised its position in Emerson Electric Co. (NYSE:EMR) by 14.2% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 84,671 shares of the industrial products company’s stock after buying an additional 10,532 shares during the period. Emerson Electric accounts for about 1.9% of Chemung Canal Trust Co.’s investment portfolio, making the stock its 19th biggest position. Chemung Canal Trust Co.’s holdings in Emerson Electric were worth $9,260,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Capital Market Strategies LLC boosted its position in Emerson Electric by 4.0% in the third quarter. Capital Market Strategies LLC now owns 4,076 shares of the industrial products company’s stock valued at $446,000 after buying an additional 158 shares in the last quarter. Apella Capital LLC raised its stake in shares of Emerson Electric by 14.0% in the third quarter. Apella Capital LLC now owns 4,754 shares of the industrial products company’s stock worth $525,000 after acquiring an additional 585 shares during the last quarter. Canandaigua National Bank & Trust Co. raised its stake in shares of Emerson Electric by 1.3% in the third quarter. Canandaigua National Bank & Trust Co. now owns 11,320 shares of the industrial products company’s stock worth $1,238,000 after acquiring an additional 148 shares during the last quarter. Farmers Trust Co. raised its stake in shares of Emerson Electric by 11.6% in the third quarter. Farmers Trust Co. now owns 3,061 shares of the industrial products company’s stock worth $335,000 after acquiring an additional 317 shares during the last quarter. Finally, SG Americas Securities LLC raised its stake in shares of Emerson Electric by 97.2% in the third quarter. SG Americas Securities LLC now owns 139,156 shares of the industrial products company’s stock worth $15,219,000 after acquiring an additional 68,599 shares during the last quarter. 74.30% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Morgan Stanley assumed coverage on shares of Emerson Electric in a research note on Friday, September 6th. They issued an “underweight” rating and a $105.00 target price for the company. Barclays dropped their target price on shares of Emerson Electric from $110.00 to $103.00 and set an “equal weight” rating for the company in a research note on Thursday, August 8th. Royal Bank of Canada dropped their price target on shares of Emerson Electric from $140.00 to $139.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. Robert W. Baird boosted their price target on shares of Emerson Electric from $116.00 to $117.00 and gave the stock a “neutral” rating in a research note on Thursday, August 8th. Finally, Wells Fargo & Company dropped their price target on shares of Emerson Electric from $137.00 to $128.00 and set an “overweight” rating for the company in a research note on Thursday, August 8th. One research analyst has rated the stock with a sell rating, five have given a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, Emerson Electric currently has a consensus rating of “Moderate Buy” and a consensus price target of $124.59.

Emerson Electric Stock Up 0.5 %

EMR stock traded up $0.59 during mid-day trading on Friday, hitting $110.22. 287,878 shares of the company were exchanged, compared to its average volume of 2,732,240. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.86 and a current ratio of 1.16. The firm has a market cap of $63.06 billion, a P/E ratio of 5.87, a P/E/G ratio of 1.74 and a beta of 1.30. The firm’s 50 day simple moving average is $105.48 and its 200 day simple moving average is $109.32. Emerson Electric Co. has a 1-year low of $83.10 and a 1-year high of $119.53.

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

Emerson Electric Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Friday, August 16th were paid a dividend of $0.525 per share. The ex-dividend date of this dividend was Friday, August 16th. This represents a $2.10 annualized dividend and a dividend yield of 1.91%. Emerson Electric’s dividend payout ratio is currently 11.24%.

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.