Grimes & Company Inc. Sells 233 Shares of Emerson Electric Co. (NYSE:EMR)

Grimes & Company Inc. lowered its stake in shares of Emerson Electric Co. (NYSE:EMR) by 1.4% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 16,947 shares of the industrial products company’s stock after selling 233 shares during the quarter. Grimes & Company Inc.’s holdings in Emerson Electric were worth $1,853,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Transcendent Capital Group LLC bought a new position in shares of Emerson Electric in the 1st quarter valued at about $31,000. Meeder Asset Management Inc. grew its holdings in Emerson Electric by 361.5% during the 2nd quarter. Meeder Asset Management Inc. now owns 300 shares of the industrial products company’s stock worth $33,000 after acquiring an additional 235 shares during the period. Tributary Capital Management LLC bought a new stake in shares of Emerson Electric during the 1st quarter valued at $35,000. Versant Capital Management Inc lifted its stake in shares of Emerson Electric by 471.9% in the 2nd quarter. Versant Capital Management Inc now owns 326 shares of the industrial products company’s stock valued at $36,000 after purchasing an additional 269 shares during the period. Finally, Matrix Trust Co bought a new position in shares of Emerson Electric in the 3rd quarter worth $44,000. Institutional investors and hedge funds own 74.30% of the company’s stock.

Emerson Electric Stock Performance

Shares of EMR stock opened at $108.24 on Friday. Emerson Electric Co. has a 12 month low of $83.10 and a 12 month high of $119.53. The company’s fifty day simple moving average is $106.01 and its 200-day simple moving average is $109.09. The firm has a market cap of $61.92 billion, a PE ratio of 5.79, a P/E/G ratio of 1.70 and a beta of 1.30. The company has a quick ratio of 0.86, a current ratio of 1.16 and a debt-to-equity ratio of 0.27.

Emerson Electric (NYSE:EMR) last issued its quarterly 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 analysts’ expectations of $4.44 billion. Emerson Electric had a net margin of 10.12% and a return on equity of 11.41%. The company’s revenue for the quarter was up 11.0% on a year-over-year basis. During the same period in the previous year, the firm posted $1.29 EPS. Equities research analysts expect that Emerson Electric Co. will post 5.48 EPS for the current fiscal year.

Emerson Electric Dividend Announcement

The business also recently disclosed 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. This represents a $2.10 dividend on an annualized basis and a dividend yield of 1.94%. The ex-dividend date of this dividend was Friday, August 16th. Emerson Electric’s dividend payout ratio is currently 11.24%.

Wall Street Analyst Weigh In

Several research firms have weighed in on EMR. Barclays cut their target price on 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 boosted their price objective on shares of Emerson Electric from $116.00 to $117.00 and gave the company a “neutral” rating in a report on Thursday, August 8th. Redburn Atlantic initiated coverage on shares of Emerson Electric in a report on Monday, July 8th. They issued a “buy” rating and a $135.00 target price on the stock. JPMorgan Chase & Co. lowered shares of Emerson Electric from an “overweight” rating to a “neutral” rating and decreased their price target for the company from $132.00 to $115.00 in a report on Wednesday, August 14th. Finally, Oppenheimer raised their price objective on Emerson Electric from $120.00 to $125.00 and gave the stock an “outperform” rating in a research note on Thursday, September 26th. One analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, Emerson Electric has a consensus rating of “Moderate Buy” and a consensus target price of $125.47.

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.