Portland Global Advisors LLC Lowers Stock Holdings in Emerson Electric Co. (NYSE:EMR)

Portland Global Advisors LLC lowered its position in shares of Emerson Electric Co. (NYSE:EMR) by 6.0% in the 1st quarter, Holdings Channel.com reports. The fund owned 4,602 shares of the industrial products company’s stock after selling 293 shares during the period. Portland Global Advisors LLC’s holdings in Emerson Electric were worth $505,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of EMR. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its holdings in shares of Emerson Electric by 3,866.2% in the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 3,022,517 shares of the industrial products company’s stock worth $374,581,000 after purchasing an additional 2,946,310 shares during the period. Pacer Advisors Inc. raised its holdings in shares of Emerson Electric by 4,583.7% in the 1st quarter. Pacer Advisors Inc. now owns 2,185,049 shares of the industrial products company’s stock valued at $239,569,000 after acquiring an additional 2,138,397 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its position in shares of Emerson Electric by 210.8% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 1,966,453 shares of the industrial products company’s stock valued at $215,602,000 after acquiring an additional 1,333,839 shares during the last quarter. GAMMA Investing LLC grew its holdings in shares of Emerson Electric by 12,707.7% during the first quarter. GAMMA Investing LLC now owns 1,126,441 shares of the industrial products company’s stock worth $123,503,000 after purchasing an additional 1,117,646 shares in the last quarter. Finally, Lazard Asset Management LLC increased its position in shares of Emerson Electric by 230,061.8% in the fourth quarter. Lazard Asset Management LLC now owns 819,376 shares of the industrial products company’s stock worth $101,545,000 after purchasing an additional 819,020 shares during the last quarter. Institutional investors own 74.30% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on EMR. KeyCorp raised their price objective on Emerson Electric from $150.00 to $155.00 and gave the company an “overweight” rating in a report on Tuesday, July 1st. Barclays boosted their price objective on shares of Emerson Electric from $118.00 to $125.00 and gave the stock an “underweight” rating in a report on Wednesday, July 9th. Citigroup increased their target price on shares of Emerson Electric from $146.00 to $165.00 and gave the company a “buy” rating in a report on Monday, July 14th. TD Cowen raised Emerson Electric to a “strong-buy” rating in a research note on Tuesday, July 8th. Finally, Stephens raised their price target on Emerson Electric from $130.00 to $145.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 16th. Two analysts have rated the stock with a sell rating, four have issued a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $142.28.

Insider Activity

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 transaction, the chief executive officer owned 164,957 shares in the company, valued at $18,694,576.81. The trade was a 9.19% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.50% of the stock is currently owned by corporate insiders.

Emerson Electric Trading Up 1.9%

Shares of NYSE EMR opened at $149.68 on Monday. The stock has a market cap of $84.20 billion, a P/E ratio of 35.81, a price-to-earnings-growth ratio of 2.90 and a beta of 1.29. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.80 and a quick ratio of 0.59. Emerson Electric Co. has a 1 year low of $90.06 and a 1 year high of $149.84. The firm has a 50-day moving average of $130.82 and a 200 day moving average of $120.38.

Emerson Electric (NYSE:EMR) last released its earnings results on Wednesday, May 7th. The industrial products company reported $1.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.41 by $0.07. The firm had revenue of $4.43 billion during 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%. The business’s revenue was up 1.3% on a year-over-year basis. During the same period last year, the business earned $1.36 earnings per share. As a group, sell-side analysts expect that Emerson Electric Co. will post 5.96 EPS for the current fiscal year.

Emerson Electric Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Friday, May 16th were paid a $0.5275 dividend. The ex-dividend date of this dividend was Friday, May 16th. This represents a $2.11 dividend on an annualized basis and a dividend yield of 1.41%. 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.