Fortitude Family Office LLC Cuts Position in Emerson Electric Co. (NYSE:EMR)

Fortitude Family Office LLC cut its stake in Emerson Electric Co. (NYSE:EMR) by 90.8% in the 3rd quarter, Holdings Channel reports. The fund owned 310 shares of the industrial products company’s stock after selling 3,072 shares during the quarter. Fortitude Family Office LLC’s holdings in Emerson Electric were worth $34,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Thrive Wealth Management LLC grew its holdings in shares of Emerson Electric by 4.1% during the second quarter. Thrive Wealth Management LLC now owns 2,319 shares of the industrial products company’s stock valued at $255,000 after buying an additional 91 shares during the last quarter. LCM Capital Management Inc lifted its position in Emerson Electric by 1.4% during the second quarter. LCM Capital Management Inc now owns 6,787 shares of the industrial products company’s stock valued at $748,000 after purchasing an additional 91 shares during the period. Sabal Trust CO lifted its position in Emerson Electric by 2.2% during the second quarter. Sabal Trust CO now owns 4,308 shares of the industrial products company’s stock valued at $475,000 after purchasing an additional 93 shares during the period. Catalyst Financial Partners LLC lifted its position in Emerson Electric by 3.7% during the second quarter. Catalyst Financial Partners LLC now owns 2,609 shares of the industrial products company’s stock valued at $287,000 after purchasing an additional 94 shares during the period. Finally, PFG Advisors lifted its position in Emerson Electric by 3.8% during the first quarter. PFG Advisors now owns 2,591 shares of the industrial products company’s stock valued at $294,000 after purchasing an additional 96 shares during the period. 74.30% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on EMR. Stephens downgraded shares of Emerson Electric from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $135.00 to $120.00 in a research report on Wednesday, October 16th. StockNews.com downgraded shares of Emerson Electric from a “buy” rating to a “hold” rating in a research report on Thursday, July 25th. Robert W. Baird increased their price objective on shares of Emerson Electric from $116.00 to $117.00 and gave the company a “neutral” rating in a research report on Thursday, August 8th. JPMorgan Chase & Co. downgraded shares of Emerson Electric from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $132.00 to $115.00 in a research report on Wednesday, August 14th. Finally, Barclays decreased 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 report on Thursday, August 8th. One analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $125.47.

Emerson Electric Stock Up 0.1 %

Shares of EMR stock opened at $109.06 on Thursday. The company has a market capitalization of $62.39 billion, a price-to-earnings ratio of 5.84, a PEG ratio of 1.68 and a beta of 1.30. Emerson Electric Co. has a one year low of $83.10 and a one year high of $119.53. The company’s fifty day moving average price is $106.51 and its 200-day moving average price is $108.90. 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 data on Wednesday, August 7th. The industrial products company reported $1.43 EPS for the quarter, beating 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 company’s revenue was up 11.0% on a year-over-year basis. During the same period last year, the firm earned $1.29 EPS. Sell-side analysts expect that Emerson Electric Co. will post 5.48 EPS for the current fiscal year.

Emerson Electric Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Investors 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 yield of 1.93%. The ex-dividend date was Friday, August 16th. Emerson Electric’s payout ratio is presently 11.24%.

Emerson Electric Company 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.