Crossmark Global Holdings Inc. Trims Stake in Emerson Electric Co. (NYSE:EMR)

Crossmark Global Holdings Inc. cut its stake in Emerson Electric Co. (NYSE:EMR) by 73.1% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 41,122 shares of the industrial products company’s stock after selling 111,954 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in Emerson Electric were worth $1,985,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Moisand Fitzgerald Tamayo LLC purchased a new position in shares of Emerson Electric in the 2nd quarter valued at approximately $28,000. Financial Insights Inc. purchased a new position in Emerson Electric during the second quarter valued at $38,000. Joseph P. Lucia & Associates LLC bought a new stake in shares of Emerson Electric during the 2nd quarter valued at $58,000. Freedman Financial Associates Inc. grew its position in shares of Emerson Electric by 18.3% in the 3rd quarter. Freedman Financial Associates Inc. now owns 710 shares of the industrial products company’s stock worth $67,000 after buying an additional 110 shares during the period. Finally, American National Bank increased its stake in shares of Emerson Electric by 17.5% in the 3rd quarter. American National Bank now owns 737 shares of the industrial products company’s stock worth $69,000 after acquiring an additional 110 shares in the last quarter. 72.75% of the stock is currently owned by institutional investors and hedge funds.

A number of brokerages have weighed in on EMR. Cowen restated a “buy” rating on shares of Emerson Electric in a report on Tuesday, August 31st. Wells Fargo & Company assumed coverage on Emerson Electric in a research note on Thursday, October 7th. They issued an “equal weight” rating and a $99.00 price target on the stock. Morgan Stanley lowered their price objective on Emerson Electric from $106.00 to $102.00 and set an “equal weight” rating for the company in a research note on Thursday, October 7th. Loop Capital began coverage on Emerson Electric in a research note on Wednesday, November 17th. They issued a “buy” rating and a $124.00 target price on the stock. Finally, Credit Suisse Group lowered their price target on Emerson Electric from $107.00 to $106.00 and set an “outperform” rating for the company in a research report on Thursday, November 4th. Three research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $102.80.

Shares of NYSE EMR opened at $94.23 on Thursday. The company has a quick ratio of 1.02, a current ratio of 1.35 and a debt-to-equity ratio of 0.58. The firm’s 50-day moving average price is $95.96 and its 200-day moving average price is $97.66. Emerson Electric Co. has a 52-week low of $74.50 and a 52-week high of $105.99. The company has a market cap of $56.06 billion, a PE ratio of 24.67, a PEG ratio of 2.18 and a beta of 1.52.

Emerson Electric (NYSE:EMR) last released its quarterly earnings results on Wednesday, November 3rd. The industrial products company reported $1.21 earnings per share for the quarter, beating the consensus estimate of $1.18 by $0.03. Emerson Electric had a return on equity of 26.45% and a net margin of 12.63%. The firm had revenue of $4.90 billion for the quarter, compared to analysts’ expectations of $5.09 billion. During the same period in the prior year, the firm earned $1.10 EPS. The company’s revenue was up 7.5% compared to the same quarter last year. As a group, equities research analysts anticipate that Emerson Electric Co. will post 4.92 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, December 10th. Investors of record on Friday, November 12th will be given a dividend of $0.515 per share. The ex-dividend date of this dividend is Wednesday, November 10th. This is an increase from Emerson Electric’s previous quarterly dividend of $0.51. This represents a $2.06 annualized dividend and a yield of 2.19%. Emerson Electric’s payout ratio is 53.93%.

Emerson Electric Company Profile

Emerson Electric Co is a global technology and engineering company, which provides innovative solutions for customers in industrial, commercial and residential markets. It operates through the following business segments: Automation Solutions; Climate Technologies; and Tools and Home Products. The Automation Solutions segment offers products, integrated solutions, software and services which enable process, hybrid and discrete manufacturers to maximize production, protect personnel and the environment, reduce project costs, and optimize their energy efficiency and operating costs.

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

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