6,589 Shares in Emerson Electric Co. $EMR Purchased by Morningstar Investment Management LLC

Morningstar Investment Management LLC purchased a new position in Emerson Electric Co. (NYSE:EMR) during the 2nd quarter, HoldingsChannel.com reports. The fund purchased 6,589 shares of the industrial products company’s stock, valued at approximately $879,000.

Several other institutional investors have also modified their holdings of the business. Perfromance Wealth Partners LLC acquired a new position in shares of Emerson Electric in the second quarter worth about $210,000. Axxcess Wealth Management LLC lifted its stake in shares of 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 in the last quarter. Jag Capital Management LLC lifted its stake in shares of Emerson Electric by 1.9% in the second quarter. Jag Capital Management LLC now owns 3,954 shares of the industrial products company’s stock worth $527,000 after acquiring an additional 72 shares in the last quarter. Cornerstone Wealth Group LLC acquired a new position in shares of Emerson Electric in the second quarter worth about $249,000. Finally, NorthRock Partners LLC lifted its stake in shares of Emerson Electric by 2.4% in the second quarter. NorthRock Partners LLC now owns 7,288 shares of the industrial products company’s stock worth $972,000 after acquiring an additional 168 shares in the last quarter. Institutional investors and hedge funds own 74.30% of the company’s stock.

Emerson Electric Stock Up 1.8%

Shares of Emerson Electric stock opened at $128.31 on Tuesday. 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 business’s 50 day simple moving average is $132.37 and its 200-day simple moving average is $125.48. The stock has a market capitalization of $72.21 billion, a price-to-earnings ratio of 27.59, a PEG ratio of 2.19 and a beta of 1.29. Emerson Electric Co. has a twelve month low of $90.06 and a twelve month high of $150.27.

Emerson Electric (NYSE:EMR) last announced its quarterly earnings results on Thursday, April 6th. The industrial products company reported $0.79 earnings per share for the quarter. The business had revenue of $3.16 billion for the quarter. Emerson Electric had a return on equity of 14.34% and a net margin of 14.92%. Equities research analysts forecast that Emerson Electric Co. will post 5.96 earnings per share for the current year.

Emerson Electric Dividend Announcement

The business also recently declared 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. This represents a $2.11 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date was Friday, August 15th. Emerson Electric’s dividend payout ratio is presently 45.38%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Wells Fargo & Company restated an “equal weight” rating and set a $140.00 price objective (down previously from $150.00) on shares of Emerson Electric in a research note on Monday, October 6th. Deutsche Bank Aktiengesellschaft upped their price objective on Emerson Electric from $157.00 to $159.00 and gave the company a “buy” rating in a research note on Thursday, October 2nd. Weiss Ratings restated a “buy (b-)” rating on shares of Emerson Electric in a research note on Wednesday, October 8th. Jefferies Financial Group cut their price objective on Emerson Electric from $160.00 to $155.00 and set a “buy” rating on the stock in a research note on Tuesday, October 7th. Finally, Barclays upgraded Emerson Electric from an “underweight” rating to an “equal weight” rating and upped their price objective for the company from $125.00 to $127.00 in a research note on Thursday, August 7th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Emerson Electric presently has a consensus rating of “Moderate Buy” and an average price target 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.