Wright Investors Service Inc. Sells 4,817 Shares of Emerson Electric Co. (NYSE:EMR)

Wright Investors Service Inc. lessened its holdings in Emerson Electric Co. (NYSE:EMR) by 19.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 19,597 shares of the industrial products company’s stock after selling 4,817 shares during the period. Wright Investors Service Inc.’s holdings in Emerson Electric were worth $2,143,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Security National Bank bought a new stake in Emerson Electric in the fourth quarter valued at approximately $29,000. Transcendent Capital Group LLC bought a new stake in Emerson Electric in the first quarter valued at approximately $31,000. Meeder Asset Management Inc. boosted its holdings in Emerson Electric by 361.5% in the second quarter. Meeder Asset Management Inc. now owns 300 shares of the industrial products company’s stock valued at $33,000 after acquiring an additional 235 shares during the last quarter. Tributary Capital Management LLC bought a new stake in Emerson Electric in the first quarter valued at approximately $35,000. Finally, Rise Advisors LLC bought a new stake in Emerson Electric in the first quarter valued at approximately $36,000. Institutional investors own 74.30% of the company’s stock.

Emerson Electric Stock Up 1.7 %

NYSE EMR traded up $1.81 on Friday, reaching $111.44. The company had a trading volume of 2,082,847 shares, compared to its average volume of 2,741,585. The stock has a market capitalization of $63.75 billion, a P/E ratio of 5.96, a P/E/G ratio of 1.74 and a beta of 1.30. The company’s fifty day moving average is $105.37 and its 200 day moving average is $109.31. Emerson Electric Co. has a 52-week low of $83.10 and a 52-week high of $119.53. 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 announced its earnings results on Wednesday, August 7th. The industrial products company reported $1.43 earnings per share (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $4.44 billion. During the same period last year, the firm posted $1.29 EPS. The business’s revenue was up 11.0% compared to the same quarter last year. Sell-side analysts anticipate that Emerson Electric Co. will post 5.48 earnings per share for the current fiscal year.

Emerson Electric Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Friday, August 16th were issued a $0.525 dividend. This represents a $2.10 annualized dividend and a yield of 1.88%. The ex-dividend date of this dividend was Friday, August 16th. Emerson Electric’s dividend payout ratio (DPR) is currently 11.24%.

Analyst Ratings Changes

Several analysts recently commented on EMR shares. Redburn Atlantic started coverage on 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. cut Emerson Electric from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $132.00 to $115.00 in a report on Wednesday, August 14th. Oppenheimer increased their price target on Emerson Electric from $120.00 to $125.00 and gave the stock an “outperform” rating in a report on Thursday, September 26th. Morgan Stanley initiated coverage on Emerson Electric in a report on Friday, September 6th. They set an “underweight” rating and a $105.00 price target on the stock. Finally, Robert W. Baird increased their price target on Emerson Electric from $116.00 to $117.00 and gave the stock a “neutral” rating in a report on Thursday, August 8th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $124.59.

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.