Emerson Electric Co. $EMR Position Reduced by Harbour Trust & Investment Management Co

Harbour Trust & Investment Management Co trimmed its stake in shares of Emerson Electric Co. (NYSE:EMR) by 1.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 23,376 shares of the industrial products company’s stock after selling 286 shares during the quarter. Harbour Trust & Investment Management Co’s holdings in Emerson Electric were worth $3,117,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the stock. Perfromance Wealth Partners LLC bought a new stake in shares of Emerson Electric during the 2nd quarter valued at about $210,000. Axxcess Wealth Management LLC lifted its holdings in Emerson Electric by 7.9% in the second quarter. Axxcess Wealth Management LLC now owns 49,222 shares of the industrial products company’s stock worth $6,563,000 after acquiring an additional 3,595 shares during the last quarter. Jag Capital Management LLC grew its holdings in shares of Emerson Electric by 1.9% during the second quarter. Jag Capital Management LLC now owns 3,954 shares of the industrial products company’s stock valued at $527,000 after purchasing an additional 72 shares during the last quarter. Cornerstone Wealth Group LLC acquired a new stake in shares of Emerson Electric during the 2nd quarter worth approximately $249,000. Finally, NorthRock Partners LLC lifted its holdings in shares of Emerson Electric by 2.4% in the 2nd quarter. NorthRock Partners LLC now owns 7,288 shares of the industrial products company’s stock worth $972,000 after purchasing an additional 168 shares during the last quarter. 74.30% of the stock is currently owned by institutional investors.

Emerson Electric Stock Up 1.8%

Emerson Electric stock opened at $128.31 on Tuesday. The stock has a market cap of $72.21 billion, a price-to-earnings ratio of 27.59, a PEG ratio of 2.19 and a beta of 1.29. The company has a current ratio of 0.85, a quick ratio of 0.63 and a debt-to-equity ratio of 0.42. The company’s 50-day moving average price is $132.37 and its two-hundred day moving average price is $125.48. Emerson Electric Co. has a 52 week low of $90.06 and a 52 week high of $150.27.

Emerson Electric (NYSE:EMR) last released its earnings results on Thursday, April 6th. The industrial products company reported $0.79 EPS for the quarter. The firm had revenue of $3.16 billion for the quarter. Emerson Electric had a net margin of 14.92% and a return on equity of 14.34%. On average, analysts expect that Emerson Electric Co. will post 5.96 EPS for the current fiscal year.

Emerson Electric Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Friday, August 15th were given a dividend of $0.5275 per share. The ex-dividend date was Friday, August 15th. This represents a $2.11 annualized dividend and a dividend yield of 1.6%. Emerson Electric’s dividend payout ratio (DPR) is 45.38%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Deutsche Bank Aktiengesellschaft upped their price objective on Emerson Electric from $157.00 to $159.00 and gave the stock a “buy” rating in a research note on Thursday, October 2nd. Barclays raised shares of Emerson Electric from an “underweight” rating to an “equal weight” rating and increased their price objective for the stock from $125.00 to $127.00 in a report on Thursday, August 7th. KeyCorp increased their price objective on shares of Emerson Electric from $150.00 to $155.00 and gave the stock an “overweight” rating in a report on Tuesday, July 1st. Wolfe Research dropped their price objective on shares of Emerson Electric from $173.00 to $172.00 and set an “outperform” rating on the stock in a report on Wednesday, October 8th. Finally, Stephens increased their price objective on shares of Emerson Electric from $130.00 to $145.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 16th. Two research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $145.56.

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.