Cardinal Capital Management Boosts Position in Emerson Electric Co. (NYSE:EMR)

Cardinal Capital Management raised its stake in Emerson Electric Co. (NYSE:EMR) by 1.7% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 85,591 shares of the industrial products company’s stock after buying an additional 1,424 shares during the period. Emerson Electric comprises 1.5% of Cardinal Capital Management’s holdings, making the stock its 19th biggest holding. Cardinal Capital Management’s holdings in Emerson Electric were worth $9,361,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also modified their holdings of the stock. Transcendent Capital Group LLC bought a new position in Emerson Electric in the first quarter worth about $31,000. Meeder Asset Management Inc. lifted its position in Emerson Electric by 361.5% during 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 acquired a new stake in Emerson Electric in the first quarter valued at approximately $35,000. Rise Advisors LLC purchased a new stake in shares of Emerson Electric during the 1st quarter valued at $36,000. Finally, Versant Capital Management Inc boosted its position in shares of Emerson Electric by 471.9% in the 2nd quarter. Versant Capital Management Inc now owns 326 shares of the industrial products company’s stock worth $36,000 after purchasing an additional 269 shares in the last quarter. 74.30% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have commented on EMR shares. Royal Bank of Canada decreased their price target on Emerson Electric from $140.00 to $139.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. JPMorgan Chase & Co. cut shares of Emerson Electric from an “overweight” rating to a “neutral” rating and lowered their target price for the stock from $132.00 to $115.00 in a research note on Wednesday, August 14th. StockNews.com lowered shares of Emerson Electric from a “buy” rating to a “hold” rating in a research note on Thursday, July 25th. Barclays lowered their price objective on shares of 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. Finally, Morgan Stanley started coverage on Emerson Electric in a research note on Friday, September 6th. They issued an “underweight” rating and a $105.00 target price for the company. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $125.47.

Emerson Electric Price Performance

Shares of NYSE EMR opened at $110.47 on Friday. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.16 and a quick ratio of 0.86. The firm’s 50 day simple moving average is $105.52 and its 200-day simple moving average is $109.23. Emerson Electric Co. has a 12 month low of $83.10 and a 12 month high of $119.53. The stock has a market capitalization of $63.20 billion, a price-to-earnings ratio of 5.91, a PEG ratio of 1.70 and a beta of 1.30.

Emerson Electric (NYSE:EMR) last released its quarterly earnings data on Wednesday, August 7th. The industrial products company reported $1.43 earnings per share for the quarter, beating analysts’ consensus estimates of $1.42 by $0.01. Emerson Electric had a net margin of 10.12% and a return on equity of 11.41%. The company had revenue of $4.38 billion during the quarter, compared to analysts’ expectations of $4.44 billion. During the same quarter in the previous year, the company earned $1.29 earnings per share. The firm’s revenue for the quarter was up 11.0% on a year-over-year basis. Analysts expect that Emerson Electric Co. will post 5.48 EPS for the current year.

Emerson Electric Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Friday, August 16th were issued a $0.525 dividend. This represents a $2.10 annualized dividend and a yield of 1.90%. The ex-dividend date of this dividend was Friday, August 16th. Emerson Electric’s payout ratio is currently 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.