Emerson Electric Co. (NYSE:EMR) Shares Purchased by Grove Bank & Trust

Grove Bank & Trust increased its stake in shares of Emerson Electric Co. (NYSE:EMR) by 10.3% in the 1st quarter, HoldingsChannel reports. The firm owned 1,929 shares of the industrial products company’s stock after buying an additional 180 shares during the quarter. Grove Bank & Trust’s holdings in Emerson Electric were worth $211,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. raised its holdings in shares of Emerson Electric by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 53,536,974 shares of the industrial products company’s stock worth $6,634,837,000 after acquiring an additional 384,313 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Emerson Electric by 2.0% in the 4th quarter. Geode Capital Management LLC now owns 11,685,615 shares of the industrial products company’s stock valued at $1,443,725,000 after purchasing an additional 232,540 shares in the last quarter. Norges Bank acquired a new stake in shares of Emerson Electric during the 4th quarter worth about $885,886,000. Northern Trust Corp grew its holdings in shares of Emerson Electric by 5.9% during the fourth quarter. Northern Trust Corp now owns 6,676,168 shares of the industrial products company’s stock worth $827,377,000 after buying an additional 370,560 shares in the last quarter. Finally, Schroder Investment Management Group grew its holdings in shares of Emerson Electric by 4.1% during the fourth quarter. Schroder Investment Management Group now owns 4,376,492 shares of the industrial products company’s stock worth $542,379,000 after buying an additional 171,946 shares in the last quarter. Hedge funds and other institutional investors own 74.30% of the company’s stock.

Insider Activity at Emerson Electric

In other Emerson Electric news, CEO Surendralal Lanca Karsanbhai sold 16,698 shares of the stock in a transaction 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 in the company, valued at $18,694,576.81. This represents a 9.19% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.50% of the company’s stock.

Analyst Upgrades and Downgrades

EMR has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. boosted their target price on shares of Emerson Electric from $113.00 to $133.00 and gave the company a “neutral” rating in a report on Friday, May 16th. Wells Fargo & Company increased their price objective on shares of Emerson Electric from $121.00 to $135.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 21st. Barclays lifted their target price on shares of Emerson Electric from $112.00 to $118.00 and gave the company an “underweight” rating in a report on Monday, June 9th. Wall Street Zen raised shares of Emerson Electric from a “hold” rating to a “buy” rating in a research report on Friday, May 9th. Finally, Robert W. Baird cut their price objective on Emerson Electric from $140.00 to $130.00 and set a “neutral” rating on the stock in a research report on Thursday, May 8th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $136.47.

Emerson Electric Stock Down 0.9%

Shares of EMR stock opened at $127.55 on Wednesday. The company has a market capitalization of $71.75 billion, a price-to-earnings ratio of 30.51, a PEG ratio of 2.54 and a beta of 1.28. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.59 and a current ratio of 0.80. The stock’s 50 day simple moving average is $113.52 and its 200 day simple moving average is $118.26. Emerson Electric Co. has a twelve month low of $90.06 and a twelve month high of $134.85.

Emerson Electric (NYSE:EMR) last posted its earnings results on Wednesday, May 7th. The industrial products company reported $1.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.41 by $0.07. The business had revenue of $4.43 billion for the quarter, compared to analyst estimates of $4.42 billion. Emerson Electric had a net margin of 13.60% and a return on equity of 13.22%. Emerson Electric’s revenue was up 1.3% compared to the same quarter last year. During the same period last year, the business posted $1.36 EPS. As a group, research analysts predict 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 was paid on Tuesday, June 10th. Shareholders of record on Friday, May 16th were given a $0.5275 dividend. This represents a $2.11 annualized dividend and a yield of 1.65%. The ex-dividend date was Friday, May 16th. Emerson Electric’s dividend payout ratio is currently 50.48%.

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.