Gillespie Robinson & Grimm Inc. trimmed its stake in shares of Emerson Electric Co. (NYSE:EMR) by 12.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,994 shares of the industrial products company’s stock after selling 422 shares during the quarter. Gillespie Robinson & Grimm Inc.’s holdings in Emerson Electric were worth $200,000 at the end of the most recent reporting period.
Other hedge funds also recently added to or reduced their stakes in the company. Ellevest Inc. boosted its holdings in shares of Emerson Electric by 110.0% during the second quarter. Ellevest Inc. now owns 420 shares of the industrial products company’s stock worth $28,000 after acquiring an additional 220 shares during the period. Larson Financial Group LLC boosted its stake in Emerson Electric by 80.3% in the 2nd quarter. Larson Financial Group LLC now owns 440 shares of the industrial products company’s stock valued at $29,000 after purchasing an additional 196 shares during the period. Westside Investment Management Inc. bought a new stake in Emerson Electric in the 2nd quarter valued at $34,000. TRUE Private Wealth Advisors bought a new stake in Emerson Electric in the 2nd quarter valued at $58,000. Finally, HMS Capital Management LLC bought a new stake in Emerson Electric in the 2nd quarter valued at $60,000. 70.52% of the stock is owned by hedge funds and other institutional investors.
Shares of NYSE:EMR traded up $1.20 during trading on Thursday, reaching $64.82. 1,466,415 shares of the company traded hands, compared to its average volume of 3,382,411. The company’s 50 day moving average is $62.61 and its two-hundred day moving average is $65.02. The firm has a market capitalization of $39.64 billion, a PE ratio of 19.18, a PEG ratio of 2.08 and a beta of 1.37. The company has a quick ratio of 0.85, a current ratio of 1.18 and a debt-to-equity ratio of 0.49. Emerson Electric Co. has a 52 week low of $55.38 and a 52 week high of $75.99.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Friday, August 16th were given a dividend of $0.49 per share. The ex-dividend date was Thursday, August 15th. This represents a $1.96 annualized dividend and a yield of 3.02%. Emerson Electric’s dividend payout ratio is 57.99%.
EMR has been the subject of several recent research reports. Credit Suisse Group reduced their price target on Emerson Electric from $74.00 to $70.00 and set an “outperform” rating for the company in a research note on Wednesday, August 7th. Cowen set a $72.00 target price on shares of Emerson Electric and gave the company a “buy” rating in a research report on Monday, September 30th. Morgan Stanley reduced their target price on shares of Emerson Electric from $76.00 to $75.00 and set an “overweight” rating for the company in a research report on Wednesday. Stephens set a $71.00 target price on shares of Emerson Electric and gave the company a “buy” rating in a research report on Monday, September 30th. Finally, Citigroup reduced their target price on shares of Emerson Electric from $79.00 to $77.00 and set a “buy” rating for the company in a research report on Tuesday, July 30th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $72.21.
About Emerson Electric
Emerson Electric Co, a technology and engineering company, provides various solutions to industrial, commercial, and consumer markets worldwide. The company's Automation Solutions segment offers products and integrated solutions, including measurement and analytical instrumentation; valves, actuators, and regulators; industrial solutions; and process control systems and solutions.
Recommended Story: Elliott Wave Theory
Receive News & Ratings for Emerson Electric Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Emerson Electric and related companies with MarketBeat.com's FREE daily email newsletter.