Mitchell Sinkler & Starr PA Has $8.66 Million Position in Emerson Electric Co. (NYSE:EMR)

Mitchell Sinkler & Starr PA lessened its position in Emerson Electric Co. (NYSE:EMR) by 5.8% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 79,013 shares of the industrial products company’s stock after selling 4,856 shares during the period. Emerson Electric accounts for about 2.4% of Mitchell Sinkler & Starr PA’s portfolio, making the stock its 11th biggest holding. Mitchell Sinkler & Starr PA’s holdings in Emerson Electric were worth $8,663,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of EMR. Orion Capital Management LLC acquired a new stake in shares of Emerson Electric in the fourth quarter valued at about $25,000. Vega Investment Solutions acquired a new stake in shares of Emerson Electric in the fourth quarter valued at about $27,000. Murphy & Mullick Capital Management Corp acquired a new stake in shares of Emerson Electric in the fourth quarter valued at about $28,000. Inlight Wealth Management LLC acquired a new stake in shares of Emerson Electric in the first quarter valued at about $28,000. Finally, Fourth Dimension Wealth LLC increased its stake in shares of Emerson Electric by 145.3% in the first quarter. Fourth Dimension Wealth LLC now owns 260 shares of the industrial products company’s stock valued at $29,000 after buying an additional 154 shares during the period. Institutional investors and hedge funds own 74.30% of the company’s stock.

Emerson Electric Stock Up 1.9%

Shares of NYSE:EMR opened at $149.68 on Friday. The business’s 50 day simple moving average is $130.82 and its two-hundred day simple moving average is $120.38. The firm has a market cap of $84.20 billion, a P/E ratio of 35.81, a PEG ratio of 2.90 and a beta of 1.29. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.59 and a current ratio of 0.80. Emerson Electric Co. has a 52-week low of $90.06 and a 52-week high of $149.84.

Emerson Electric (NYSE:EMR) last posted its earnings results on Wednesday, May 7th. The industrial products company reported $1.48 earnings per share for the quarter, beating analysts’ consensus estimates of $1.41 by $0.07. Emerson Electric had a return on equity of 13.22% and a net margin of 13.60%. The company had revenue of $4.43 billion for the quarter, compared to analyst estimates of $4.42 billion. During the same quarter last year, the company earned $1.36 earnings per share. The company’s revenue for the quarter was up 1.3% on a year-over-year basis. As a group, research analysts forecast 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 issued a $0.5275 dividend. The ex-dividend date 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 presently 50.48%.

Wall Street Analysts Forecast Growth

EMR has been the subject of several recent research reports. Bank of America increased their price target on Emerson Electric from $130.00 to $155.00 and gave the company a “buy” rating in a research note on Wednesday, July 2nd. TD Cowen upgraded Emerson Electric to a “strong-buy” rating in a research report on Tuesday, July 8th. Wells Fargo & Company upped their target price on Emerson Electric from $135.00 to $150.00 and gave the company an “overweight” rating in a research report on Tuesday, July 1st. Stephens upped their target price on Emerson Electric from $130.00 to $145.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 16th. Finally, Robert W. Baird cut their target price 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 analysts have rated the stock with a sell rating, four have assigned a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $142.28.

Insider Buying and Selling at Emerson Electric

In other news, CEO Surendralal Lanca Karsanbhai sold 16,698 shares of the firm’s stock in a transaction that occurred on Thursday, May 8th. The stock was 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. This trade represents a 9.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.50% of the stock is owned by corporate insiders.

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.