Emerson Electric Co. $EMR Shares Sold by Patten Group Inc.

Patten Group Inc. cut its position in Emerson Electric Co. (NYSE:EMR) by 1.1% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 26,179 shares of the industrial products company’s stock after selling 302 shares during the period. Emerson Electric makes up 0.7% of Patten Group Inc.’s holdings, making the stock its 28th largest position. Patten Group Inc.’s holdings in Emerson Electric were worth $3,491,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of EMR. Nuveen LLC acquired a new position in shares of Emerson Electric in the first quarter valued at about $737,318,000. Pacer Advisors Inc. increased its holdings in shares of Emerson Electric by 4,583.7% in the first quarter. Pacer Advisors Inc. now owns 2,185,049 shares of the industrial products company’s stock valued at $239,569,000 after purchasing an additional 2,138,397 shares during the period. Alliancebernstein L.P. increased its holdings in shares of Emerson Electric by 218.7% in the first quarter. Alliancebernstein L.P. now owns 2,468,732 shares of the industrial products company’s stock valued at $270,672,000 after purchasing an additional 1,693,999 shares during the period. Nordea Investment Management AB grew its holdings in Emerson Electric by 19.5% during the second quarter. Nordea Investment Management AB now owns 9,195,005 shares of the industrial products company’s stock worth $1,223,947,000 after acquiring an additional 1,499,000 shares during the period. Finally, Massachusetts Financial Services Co. MA grew its holdings in Emerson Electric by 210.8% during the first quarter. Massachusetts Financial Services Co. MA now owns 1,966,453 shares of the industrial products company’s stock worth $215,602,000 after acquiring an additional 1,333,839 shares during the period. 74.30% of the stock is owned by institutional investors and hedge funds.

Emerson Electric Stock Up 1.5%

Shares of EMR opened at $132.29 on Wednesday. The company has a current ratio of 0.85, a quick ratio of 0.63 and a debt-to-equity ratio of 0.42. Emerson Electric Co. has a 12 month low of $90.06 and a 12 month high of $150.27. The stock’s 50 day moving average is $131.88 and its two-hundred day moving average is $126.36. The firm has a market cap of $74.45 billion, a P/E ratio of 28.45, a PEG ratio of 2.25 and a beta of 1.29.

Emerson Electric (NYSE:EMR) last issued its quarterly earnings data on Thursday, April 6th. The industrial products company reported $0.79 EPS for the quarter. Emerson Electric had a return on equity of 14.34% and a net margin of 14.92%.The company had revenue of $3.16 billion for the quarter. Analysts predict that Emerson Electric Co. will post 5.96 earnings per share for the current fiscal year.

Emerson Electric Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Friday, August 15th were paid a $0.5275 dividend. The ex-dividend date of this dividend was Friday, August 15th. This represents a $2.11 dividend on an annualized basis and a dividend yield of 1.6%. Emerson Electric’s payout ratio is currently 45.38%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on EMR shares. Barclays raised Emerson Electric from an “underweight” rating to an “equal weight” rating and raised their target price for the stock from $125.00 to $127.00 in a report on Thursday, August 7th. Deutsche Bank Aktiengesellschaft raised their target price on Emerson Electric from $157.00 to $159.00 and gave the stock a “buy” rating in a report on Thursday, October 2nd. Bank of America raised their target price on Emerson Electric from $130.00 to $155.00 and gave the stock a “buy” rating in a report on Wednesday, July 2nd. JPMorgan Chase & Co. raised their target price on Emerson Electric from $135.00 to $151.00 and gave the stock a “neutral” rating in a report on Wednesday, October 15th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Emerson Electric in a report on Wednesday, October 8th. Two research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $148.28.

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.