Emerson Electric Co. (NYSE:EMR) Shares Sold by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank reduced its holdings in Emerson Electric Co. (NYSE:EMR) by 6.0% in the 1st quarter, Holdings Channel reports. The institutional investor owned 245,888 shares of the industrial products company’s stock after selling 15,587 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Emerson Electric were worth $26,959,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the business. Providence Wealth Advisors LLC lifted its holdings in shares of Emerson Electric by 23.2% in the 1st quarter. Providence Wealth Advisors LLC now owns 11,343 shares of the industrial products company’s stock valued at $1,237,000 after buying an additional 2,136 shares during the period. Accretive Wealth Partners LLC acquired a new stake in shares of Emerson Electric in the 1st quarter valued at approximately $220,000. Empirical Finance LLC lifted its holdings in shares of Emerson Electric by 1.8% in the 1st quarter. Empirical Finance LLC now owns 19,995 shares of the industrial products company’s stock valued at $2,192,000 after buying an additional 345 shares during the period. GLOBALT Investments LLC GA lifted its holdings in shares of Emerson Electric by 2.2% in the 1st quarter. GLOBALT Investments LLC GA now owns 70,495 shares of the industrial products company’s stock valued at $7,729,000 after buying an additional 1,499 shares during the period. Finally, Phoenix Financial Ltd. lifted its holdings in shares of Emerson Electric by 192.1% in the 1st quarter. Phoenix Financial Ltd. now owns 13,009 shares of the industrial products company’s stock valued at $1,432,000 after buying an additional 8,556 shares during the period. 74.30% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

EMR has been the subject of several recent analyst reports. KeyCorp raised their price target on Emerson Electric from $150.00 to $155.00 and gave the company an “overweight” rating in a report on Tuesday, July 1st. Barclays lifted their price objective on Emerson Electric from $118.00 to $125.00 and gave the stock an “underweight” rating in a report on Wednesday, July 9th. Bank of America lifted their price objective on Emerson Electric from $130.00 to $155.00 and gave the stock a “buy” rating in a report on Wednesday, July 2nd. TD Cowen raised Emerson Electric to a “strong-buy” rating in a report on Tuesday, July 8th. Finally, Robert W. Baird reduced their price objective on Emerson Electric from $140.00 to $130.00 and set a “neutral” rating for the company in a report on Thursday, May 8th. Two analysts have rated the stock with a sell rating, four have issued a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $142.28.

Emerson Electric Stock Performance

Emerson Electric stock opened at $149.47 on Tuesday. 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 fifty day moving average of $131.42 and a two-hundred day moving average of $120.60. The company has a market capitalization of $84.08 billion, a price-to-earnings ratio of 35.76, a PEG ratio of 2.90 and a beta of 1.29. Emerson Electric Co. has a fifty-two week low of $90.06 and a fifty-two week high of $149.84.

Emerson Electric (NYSE:EMR) last announced its quarterly earnings data on Wednesday, May 7th. The industrial products company reported $1.48 EPS for the quarter, beating analysts’ consensus estimates of $1.41 by $0.07. The business had revenue of $4.43 billion during the quarter, compared to the consensus estimate of $4.42 billion. Emerson Electric had a return on equity of 13.22% and a net margin of 13.60%. The business’s revenue for the quarter was up 1.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.36 earnings per share. On average, analysts anticipate that Emerson Electric Co. will post 5.96 EPS for the current fiscal year.

Emerson Electric Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Friday, May 16th were given a $0.5275 dividend. This represents a $2.11 dividend on an annualized basis and a dividend yield of 1.41%. The ex-dividend date was Friday, May 16th. Emerson Electric’s dividend payout ratio is currently 50.48%.

Insider Activity at Emerson Electric

In other news, CEO Surendralal Lanca Karsanbhai sold 16,698 shares of Emerson Electric stock in a transaction 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 completion of the sale, the chief executive officer owned 164,957 shares of the company’s stock, valued at $18,694,576.81. The trade was a 9.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.50% of the stock is currently owned by corporate insiders.

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.