Emerson Electric Co. (NYSE:EMR) Shares Sold by Canoe Financial LP

Canoe Financial LP decreased its position in Emerson Electric Co. (NYSE:EMR) by 44.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 247,263 shares of the industrial products company’s stock after selling 201,111 shares during the quarter. Canoe Financial LP’s holdings in Emerson Electric were worth $27,110,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the company. Dupont Capital Management Corp grew its position in Emerson Electric by 29.5% in the first quarter. Dupont Capital Management Corp now owns 64,864 shares of the industrial products company’s stock valued at $7,112,000 after acquiring an additional 14,767 shares in the last quarter. Covea Finance grew its position in shares of Emerson Electric by 31.0% during the first quarter. Covea Finance now owns 298,760 shares of the industrial products company’s stock worth $32,756,000 after buying an additional 70,760 shares in the last quarter. Segment Wealth Management LLC grew its position in shares of Emerson Electric by 29.3% during the first quarter. Segment Wealth Management LLC now owns 7,876 shares of the industrial products company’s stock worth $864,000 after buying an additional 1,783 shares in the last quarter. Avior Wealth Management LLC grew its position in shares of Emerson Electric by 53.4% during the first quarter. Avior Wealth Management LLC now owns 4,280 shares of the industrial products company’s stock worth $469,000 after buying an additional 1,489 shares in the last quarter. Finally, Blue Trust Inc. grew its position in shares of Emerson Electric by 16.8% during the first quarter. Blue Trust Inc. now owns 4,935 shares of the industrial products company’s stock worth $541,000 after buying an additional 711 shares in the last quarter. Institutional investors and hedge funds own 74.30% of the company’s stock.

Insider Buying and Selling

In related news, CEO Surendralal Lanca Karsanbhai sold 16,698 shares of the company’s stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $113.33, for a total value of $1,892,384.34. Following the completion of the sale, the chief executive officer now owns 164,957 shares of the company’s stock, valued at $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 SEC, which is available through the SEC website. Corporate insiders own 0.50% of the company’s stock.

Emerson Electric Stock Performance

EMR stock opened at $128.30 on Friday. 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 has a market capitalization of $72.17 billion, a price-to-earnings ratio of 30.69, a PEG ratio of 2.54 and a beta of 1.28. Emerson Electric Co. has a 1 year low of $90.06 and a 1 year high of $134.85. The stock’s fifty day moving average is $115.14 and its two-hundred day moving average is $118.26.

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 company had revenue of $4.43 billion for the quarter, compared to analysts’ expectations of $4.42 billion. Emerson Electric had a return on equity of 13.22% and a net margin of 13.60%. The firm’s quarterly revenue was up 1.3% compared to the same quarter last year. During the same period last year, the business posted $1.36 earnings per share. On average, research analysts predict that Emerson Electric Co. will post 5.96 EPS for the current year.

Emerson Electric Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Friday, May 16th were issued a $0.5275 dividend. This represents a $2.11 annualized dividend and a yield of 1.64%. The ex-dividend date was Friday, May 16th. Emerson Electric’s payout ratio is currently 50.48%.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. JPMorgan Chase & Co. raised their price target on shares of Emerson Electric from $113.00 to $133.00 and gave the stock a “neutral” rating in a research report on Friday, May 16th. Robert W. Baird decreased their price target on shares of Emerson Electric from $140.00 to $130.00 and set a “neutral” rating for the company in a research report on Thursday, May 8th. Barclays raised their price target on shares of Emerson Electric from $112.00 to $118.00 and gave the stock an “underweight” rating in a research report on Monday, June 9th. Citigroup lifted their price objective on shares of Emerson Electric from $133.00 to $146.00 and gave the stock a “buy” rating in a report on Wednesday, June 4th. Finally, Royal Bank Of Canada lifted their price objective on shares of Emerson Electric from $123.00 to $124.00 and gave the stock an “outperform” rating in a report on Thursday, May 8th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $136.47.

Emerson Electric 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.