Pinnacle Associates Ltd. Acquires 219 Shares of Emerson Electric Co. (NYSE:EMR)

Pinnacle Associates Ltd. boosted its position in Emerson Electric Co. (NYSE:EMR) by 0.4% in the second quarter, Holdings Channel.com reports. The firm owned 55,892 shares of the industrial products company’s stock after purchasing an additional 219 shares during the quarter. Pinnacle Associates Ltd.’s holdings in Emerson Electric were worth $6,157,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. 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 purchasing an additional 1,488,948 shares in the last quarter. Wells Fargo & Company MN increased its holdings in Emerson Electric by 0.6% in the 4th quarter. Wells Fargo & Company MN now owns 10,654,285 shares of the industrial products company’s stock worth $1,036,982,000 after purchasing an additional 62,105 shares in the last quarter. Norges Bank acquired a new position in Emerson Electric in the 4th quarter worth about $764,604,000. Charles Schwab Investment Management Inc. increased its holdings in Emerson Electric by 2.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,174,088 shares of the industrial products company’s stock worth $308,934,000 after purchasing an additional 60,990 shares in the last quarter. Finally, First Trust Advisors LP increased its holdings in Emerson Electric by 219.2% in the 4th quarter. First Trust Advisors LP now owns 2,601,619 shares of the industrial products company’s stock worth $253,216,000 after purchasing an additional 1,786,583 shares in the last quarter. Institutional investors and hedge funds own 74.30% of the company’s stock.

Analyst Ratings Changes

EMR has been the subject of several recent research reports. Loop Capital increased their price target on Emerson Electric from $130.00 to $135.00 and gave the company a “buy” rating in a research note on Friday, May 10th. JPMorgan Chase & Co. cut 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 research note on Wednesday, August 14th. Robert W. Baird increased their price target on Emerson Electric from $116.00 to $117.00 and gave the company a “neutral” rating in a research note on Thursday, August 8th. Wells Fargo & Company decreased their price target on Emerson Electric from $137.00 to $128.00 and set an “overweight” rating for the company in a research note on Thursday, August 8th. Finally, Barclays decreased their price target on 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. Five investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $125.18.

Emerson Electric Trading Up 1.2 %

NYSE EMR opened at $105.39 on Friday. The business has a 50 day simple moving average of $109.40 and a 200 day simple moving average of $109.88. The stock has a market capitalization of $60.29 billion, a P/E ratio of 5.64, a P/E/G ratio of 1.93 and a beta of 1.32. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.18 and a quick ratio of 0.87. Emerson Electric Co. has a one year low of $83.10 and a one year high of $119.53.

Emerson Electric (NYSE:EMR) last announced its quarterly earnings results on Wednesday, August 7th. The industrial products company reported $1.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.42 by $0.01. The business had revenue of $4.38 billion for the quarter, compared to analyst estimates of $4.44 billion. Emerson Electric had a return on equity of 11.14% and a net margin of 64.97%. The company’s quarterly revenue was up 11.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.29 earnings per share. Research analysts expect that Emerson Electric Co. will post 5.47 earnings per share for the current year.

Emerson Electric Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Friday, August 16th will be issued a $0.525 dividend. The ex-dividend date of this dividend is Friday, August 16th. This represents a $2.10 annualized dividend and a yield of 1.99%. Emerson Electric’s payout ratio is currently 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.