Patten Group Inc. Boosts Stake in Emerson Electric Co. (NYSE:EMR)

Patten Group Inc. raised its stake in shares of Emerson Electric Co. (NYSE:EMR) by 10.9% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 26,451 shares of the industrial products company’s stock after purchasing an additional 2,607 shares during the period. Patten Group Inc.’s holdings in Emerson Electric were worth $2,893,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of EMR. Wellington Management Group LLP increased its holdings in Emerson Electric by 12.5% in the 4th quarter. Wellington Management Group LLP now owns 13,435,524 shares of the industrial products company’s stock worth $1,307,680,000 after acquiring an additional 1,488,948 shares in the last quarter. Newport Trust Company LLC purchased a new position in Emerson Electric in the 2nd quarter worth approximately $574,908,000. Legal & General Group Plc grew its holdings in Emerson Electric by 5.2% during the 2nd quarter. Legal & General Group Plc now owns 4,510,496 shares of the industrial products company’s stock valued at $496,877,000 after buying an additional 224,784 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Emerson Electric by 17.7% in the second quarter. Dimensional Fund Advisors LP now owns 2,358,796 shares of the industrial products company’s stock worth $259,809,000 after buying an additional 355,106 shares in the last quarter. Finally, Van ECK Associates Corp lifted its stake in Emerson Electric by 6.8% in the 1st quarter. Van ECK Associates Corp now owns 2,106,958 shares of the industrial products company’s stock worth $238,971,000 after purchasing an additional 134,865 shares in the last quarter. Hedge funds and other institutional investors own 74.30% of the company’s stock.

Emerson Electric Stock Up 1.3 %

Emerson Electric stock opened at $110.88 on Thursday. The business’s 50-day simple moving average is $105.14 and its two-hundred day simple moving average is $109.27. 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 company has a market cap of $63.43 billion, a PE ratio of 5.93, a PEG ratio of 1.74 and a beta of 1.30. Emerson Electric Co. has a fifty-two week low of $83.10 and a fifty-two week high of $119.53.

Emerson Electric (NYSE:EMR) last issued its earnings results on Wednesday, August 7th. The industrial products company reported $1.43 EPS for the quarter, beating 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 firm had revenue of $4.38 billion for the quarter, compared to analyst estimates of $4.44 billion. During the same quarter in the prior year, the firm earned $1.29 earnings per share. Emerson Electric’s revenue for the quarter was up 11.0% on a year-over-year basis. Equities analysts anticipate that Emerson Electric Co. will post 5.48 EPS for the current year.

Emerson Electric Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Friday, August 16th were given a dividend of $0.525 per share. The ex-dividend date of this dividend was Friday, August 16th. This represents a $2.10 dividend on an annualized basis and a yield of 1.89%. Emerson Electric’s dividend payout ratio is presently 11.24%.

Analyst Upgrades and Downgrades

EMR has been the topic of several recent research reports. JPMorgan Chase & Co. cut Emerson Electric from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $132.00 to $115.00 in a report on Wednesday, August 14th. Oppenheimer boosted their target price on Emerson Electric from $120.00 to $125.00 and gave the company an “outperform” rating in a research report on Thursday, September 26th. Barclays reduced their price target on shares of Emerson Electric from $110.00 to $103.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 8th. Robert W. Baird lifted their target price on Emerson Electric from $116.00 to $117.00 and gave the company a “neutral” rating in a research report on Thursday, August 8th. Finally, Royal Bank of Canada cut their price objective on shares of Emerson Electric from $140.00 to $139.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, Emerson Electric has an average rating of “Moderate Buy” and a consensus target price of $124.59.

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.