Cornerstone Advisory LLC Increases Stock Holdings in Emerson Electric Co. (NYSE:EMR)

Cornerstone Advisory LLC boosted its holdings in Emerson Electric Co. (NYSE:EMR) by 29.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 4,761 shares of the industrial products company’s stock after buying an additional 1,078 shares during the period. Cornerstone Advisory LLC’s holdings in Emerson Electric were worth $587,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Orion Capital Management LLC acquired a new stake in shares of Emerson Electric in the fourth quarter worth approximately $25,000. Stephens Consulting LLC purchased a new position in Emerson Electric during the fourth quarter worth approximately $25,000. Murphy & Mullick Capital Management Corp acquired a new position in shares of Emerson Electric in the 4th quarter valued at $28,000. YANKCOM Partnership purchased a new stake in shares of Emerson Electric during the 4th quarter valued at $30,000. Finally, Fiduciary Advisors Inc. acquired a new stake in shares of Emerson Electric during the 4th quarter worth $35,000. Hedge funds and other institutional investors own 74.30% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on EMR shares. JPMorgan Chase & Co. boosted their price target on Emerson Electric from $113.00 to $133.00 and gave the company a “neutral” rating in a research report on Friday, May 16th. Barclays boosted their target price on Emerson Electric from $99.00 to $104.00 and gave the stock an “underweight” rating in a report on Thursday, May 8th. Daiwa Capital Markets initiated coverage on shares of Emerson Electric in a report on Tuesday, January 28th. They issued an “outperform” rating and a $147.00 price target on the stock. Wall Street Zen upgraded shares of Emerson Electric from a “hold” rating to a “buy” rating in a research note on Friday, May 9th. Finally, Royal Bank of Canada raised their target price on shares of Emerson Electric from $123.00 to $124.00 and gave the company an “outperform” rating in a research note on Thursday, May 8th. Two research analysts have rated the stock with a sell rating, four have given a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $133.06.

Emerson Electric Stock Up 1.1%

NYSE:EMR opened at $117.37 on Friday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.17 and a current ratio of 1.54. The company has a market capitalization of $66.02 billion, a price-to-earnings ratio of 28.01, a price-to-earnings-growth ratio of 2.49 and a beta of 1.26. Emerson Electric Co. has a one year low of $90.06 and a one year high of $134.85. The stock has a 50-day simple moving average of $107.91 and a 200 day simple moving average of $119.11.

Emerson Electric (NYSE:EMR) last issued its quarterly earnings results on Wednesday, May 7th. The industrial products company reported $1.48 earnings per share for the quarter, beating analysts’ consensus estimates of $1.41 by $0.07. Emerson Electric had a return on equity of 12.08% and a net margin of 13.74%. The business had revenue of $4.43 billion during the quarter, compared to the consensus estimate of $4.42 billion. During the same period in the previous year, the business earned $1.36 EPS. The business’s quarterly revenue was up 1.3% on a year-over-year basis. Sell-side analysts predict that Emerson Electric Co. will post 5.96 EPS for the current fiscal year.

Emerson Electric Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Friday, May 16th will be given a dividend of $0.5275 per share. This represents a $2.11 dividend on an annualized basis and a dividend yield of 1.80%. The ex-dividend date is Friday, May 16th. Emerson Electric’s dividend payout ratio is presently 50.48%.

Insider Buying and Selling

In other news, CEO Surendralal Lanca Karsanbhai sold 16,698 shares of the company’s stock in a transaction that occurred on Thursday, May 8th. The stock was sold at an average price of $113.33, for a total transaction of $1,892,384.34. Following the completion of the transaction, the chief executive officer now directly owns 164,957 shares of the company’s stock, valued at approximately $18,694,576.81. This represents a 9.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.50% of the stock is owned by company insiders.

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.