Emerson Electric Co. (NYSE:EMR) Shares Purchased by Pinnacle Associates Ltd.

Pinnacle Associates Ltd. boosted its stake in Emerson Electric Co. (NYSE:EMRFree Report) by 1.7% in the third quarter, Holdings Channel.com reports. The firm owned 56,860 shares of the industrial products company’s stock after acquiring an additional 968 shares during the quarter. Pinnacle Associates Ltd.’s holdings in Emerson Electric were worth $6,219,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of EMR. Transcendent Capital Group LLC purchased a new stake in shares of Emerson Electric during the 1st quarter valued at $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. Morton Brown Family Wealth LLC purchased a new stake in Emerson Electric during the third quarter valued at about $33,000. Versant Capital Management Inc increased its stake in Emerson Electric by 471.9% during the second quarter. Versant Capital Management Inc now owns 326 shares of the industrial products company’s stock worth $36,000 after acquiring an additional 269 shares during the last quarter. Finally, Matrix Trust Co purchased a new position in shares of Emerson Electric in the 3rd quarter worth about $44,000. Institutional investors and hedge funds own 74.30% of the company’s stock.

Emerson Electric Price Performance

EMR opened at $109.06 on Thursday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.86 and a current ratio of 1.16. Emerson Electric Co. has a 1-year low of $83.10 and a 1-year high of $119.53. The company has a 50-day moving average of $106.51 and a 200-day moving average of $108.90. The company has a market capitalization of $62.39 billion, a P/E ratio of 5.84, a PEG ratio of 1.68 and a beta of 1.30.

Emerson Electric (NYSE:EMRGet Free Report) last announced its quarterly earnings data 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. The firm had revenue of $4.38 billion for the quarter, compared to analysts’ expectations of $4.44 billion. Emerson Electric had a return on equity of 11.41% and a net margin of 10.12%. Emerson Electric’s revenue for the quarter was up 11.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.29 earnings per share. Equities analysts expect that Emerson Electric Co. will post 5.48 EPS for the current fiscal year.

Emerson Electric Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Friday, August 16th were paid a dividend of $0.525 per share. The ex-dividend date of this dividend was Friday, August 16th. This represents a $2.10 annualized dividend and a yield of 1.93%. Emerson Electric’s payout ratio is 11.24%.

Analysts Set New Price Targets

A number of research firms recently issued reports on EMR. Barclays dropped their target price on shares of Emerson Electric from $110.00 to $103.00 and set an “equal weight” rating for the company in a research report on Thursday, August 8th. Morgan Stanley assumed coverage on shares of Emerson Electric in a report on Friday, September 6th. They set an “underweight” rating and a $105.00 target price on the stock. Wells Fargo & Company lowered their price target on Emerson Electric from $137.00 to $128.00 and set an “overweight” rating for the company in a report on Thursday, August 8th. StockNews.com cut Emerson Electric from a “buy” rating to a “hold” rating in a research note on Thursday, July 25th. Finally, Stephens lowered Emerson Electric from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $135.00 to $120.00 in a research note on Wednesday, October 16th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, Emerson Electric currently has an average rating of “Moderate Buy” and a consensus price target of $125.47.

View Our Latest Research Report on EMR

About Emerson Electric

(Free Report)

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.

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Institutional Ownership by Quarter for Emerson Electric (NYSE:EMR)

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