Emerson Electric Co. (NYSE:EMR) Position Lessened by Broadway Wealth Solutions Inc.

Broadway Wealth Solutions Inc. trimmed its holdings in shares of Emerson Electric Co. (NYSE:EMR) by 10.4% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 1,900 shares of the industrial products company’s stock after selling 221 shares during the period. Broadway Wealth Solutions Inc.’s holdings in Emerson Electric were worth $208,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Stokes Family Office LLC increased its position in Emerson Electric by 94.8% during the fourth quarter. Stokes Family Office LLC now owns 9,206 shares of the industrial products company’s stock worth $1,141,000 after buying an additional 4,480 shares during the last quarter. Clark Capital Management Group Inc. increased its position in Emerson Electric by 7.7% during the fourth quarter. Clark Capital Management Group Inc. now owns 6,042 shares of the industrial products company’s stock worth $749,000 after buying an additional 434 shares during the last quarter. World Investment Advisors increased its position in Emerson Electric by 41.2% during the fourth quarter. World Investment Advisors now owns 20,823 shares of the industrial products company’s stock worth $2,581,000 after buying an additional 6,079 shares during the last quarter. Howland Capital Management LLC increased its position in Emerson Electric by 13.0% during the fourth quarter. Howland Capital Management LLC now owns 26,494 shares of the industrial products company’s stock worth $3,283,000 after buying an additional 3,054 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in Emerson Electric by 2.0% during the fourth quarter. Geode Capital Management LLC now owns 11,685,615 shares of the industrial products company’s stock worth $1,443,725,000 after buying an additional 232,540 shares during the last quarter. 74.30% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

EMR has been the topic of several analyst reports. Citigroup increased their target price on shares of Emerson Electric from $133.00 to $146.00 and gave the stock a “buy” rating in a research report on Wednesday. Barclays raised their price target on Emerson Electric from $104.00 to $112.00 and gave the company an “underweight” rating in a research report on Friday, May 30th. KeyCorp lowered their price target on Emerson Electric from $158.00 to $125.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 8th. JPMorgan Chase & Co. raised 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. Finally, Royal Bank of Canada raised their price target on Emerson Electric from $123.00 to $124.00 and gave the company an “outperform” rating in a research report on Thursday, May 8th. Two analysts have rated the stock with a sell rating, four have given a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $134.65.

Emerson Electric Stock Up 1.0%

NYSE EMR opened at $123.68 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 firm has a 50-day simple moving average of $109.70 and a 200 day simple moving average of $118.50. Emerson Electric Co. has a twelve month low of $90.06 and a twelve month high of $134.85. The stock has a market cap of $69.57 billion, a PE ratio of 29.52, a PEG ratio of 2.49 and a beta of 1.28.

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

Emerson Electric Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Friday, May 16th will be paid a dividend of $0.5275 per share. This represents a $2.11 dividend on an annualized basis and a yield of 1.71%. The ex-dividend date is Friday, May 16th. Emerson Electric’s dividend payout ratio is 50.48%.

Insiders Place Their Bets

In other Emerson Electric news, CEO Surendralal Lanca Karsanbhai sold 16,698 shares of the firm’s stock in a transaction dated Thursday, May 8th. The shares were 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 owns 164,957 shares in the company, valued at $18,694,576.81. This trade represents a 9.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.50% of the company’s stock.

Emerson Electric Company Profile

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.