Cornerstone Wealth Management LLC Purchases 1,198 Shares of Emerson Electric Co. (NYSE:EMR)

Cornerstone Wealth Management LLC boosted its stake in shares of Emerson Electric Co. (NYSE:EMR) by 2.6% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 46,516 shares of the industrial products company’s stock after purchasing an additional 1,198 shares during the period. Cornerstone Wealth Management LLC’s holdings in Emerson Electric were worth $5,276,000 as of its most recent filing with the SEC.

Several other institutional investors also recently added to or reduced their stakes in EMR. Norges Bank bought a new position in Emerson Electric during the fourth quarter valued at about $764,604,000. First Trust Advisors LP boosted its position in Emerson Electric by 219.2% during the fourth 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 during the period. Nordea Investment Management AB boosted its position in Emerson Electric by 26.5% during the fourth quarter. Nordea Investment Management AB now owns 7,447,248 shares of the industrial products company’s stock worth $723,873,000 after purchasing an additional 1,558,903 shares during the period. Wellington Management Group LLP boosted its position in Emerson Electric by 12.5% during the fourth 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 during the period. Finally, Schroder Investment Management Group boosted its position in Emerson Electric by 211.7% during the third quarter. Schroder Investment Management Group now owns 2,003,099 shares of the industrial products company’s stock worth $193,439,000 after purchasing an additional 1,360,477 shares during the period. Institutional investors own 74.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on EMR. Wells Fargo & Company increased their target price on shares of Emerson Electric from $133.00 to $137.00 and gave the stock an “overweight” rating in a research report on Wednesday, June 26th. Deutsche Bank Aktiengesellschaft upgraded shares of Emerson Electric from a “hold” rating to a “buy” rating and increased their target price for the stock from $123.00 to $138.00 in a research report on Thursday, May 9th. Loop Capital raised their price objective on shares of Emerson Electric from $130.00 to $135.00 and gave the company a “buy” rating in a research report on Friday, May 10th. Robert W. Baird decreased their target price on shares of Emerson Electric from $120.00 to $116.00 and set a “neutral” rating on the stock in a report on Thursday, May 9th. Finally, StockNews.com downgraded shares of Emerson Electric from a “buy” rating to a “hold” rating in a report on Friday, May 17th. Four equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, Emerson Electric currently has a consensus rating of “Moderate Buy” and a consensus target price of $122.76.

Emerson Electric Price Performance

Emerson Electric stock traded up $0.29 during mid-day trading on Thursday, hitting $109.56. 1,074,795 shares of the company traded hands, compared to its average volume of 2,281,336. Emerson Electric Co. has a one year low of $83.10 and a one year high of $116.76. The stock has a market cap of $62.68 billion, a price-to-earnings ratio of 5.86, a price-to-earnings-growth ratio of 1.86 and a beta of 1.32. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.87 and a current ratio of 1.18. The stock has a fifty day moving average price of $109.98 and a 200-day moving average price of $105.97.

Emerson Electric (NYSE:EMR) last announced its quarterly earnings data on Wednesday, May 8th. The industrial products company reported $1.36 earnings per share for the quarter, topping analysts’ consensus estimates of $1.25 by $0.11. The firm had revenue of $4.38 billion during the quarter, compared to analyst estimates of $4.29 billion. Emerson Electric had a net margin of 64.97% and a return on equity of 11.14%. The business’s quarterly revenue was up 16.5% on a year-over-year basis. During the same period in the previous year, the business posted $1.09 EPS. On average, equities analysts predict that Emerson Electric Co. will post 5.47 earnings per share for the current fiscal year.

Emerson Electric Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 10th. Stockholders of record on Friday, May 17th were issued a $0.525 dividend. The ex-dividend date of this dividend was Thursday, May 16th. This represents a $2.10 dividend on an annualized basis and a dividend yield of 1.92%. Emerson Electric’s payout ratio is 11.24%.

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.