Peak Asset Management LLC cut its stake in shares of Emerson Electric Company (NYSE:EMR) by 0.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 91,318 shares of the industrial products company’s stock after selling 837 shares during the period. Emerson Electric comprises about 2.1% of Peak Asset Management LLC’s investment portfolio, making the stock its 19th largest position. Peak Asset Management LLC’s holdings in Emerson Electric were worth $5,466,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. CAPROCK Group Inc. raised its position in Emerson Electric by 0.8% in the first quarter. CAPROCK Group Inc. now owns 4,689 shares of the industrial products company’s stock valued at $281,000 after buying an additional 37 shares during the last quarter. Cadence Bank NA raised its position in Emerson Electric by 0.3% in the first quarter. Cadence Bank NA now owns 12,322 shares of the industrial products company’s stock valued at $738,000 after buying an additional 37 shares during the last quarter. Lourd Capital LLC raised its position in Emerson Electric by 0.4% in the first quarter. Lourd Capital LLC now owns 9,242 shares of the industrial products company’s stock valued at $553,000 after buying an additional 40 shares during the last quarter. ZWJ Investment Counsel Inc. raised its position in Emerson Electric by 1.3% in the first quarter. ZWJ Investment Counsel Inc. now owns 4,030 shares of the industrial products company’s stock valued at $241,000 after buying an additional 50 shares during the last quarter. Finally, Glenview Trust Co raised its position in Emerson Electric by 0.3% in the first quarter. Glenview Trust Co now owns 19,515 shares of the industrial products company’s stock valued at $1,168,000 after buying an additional 65 shares during the last quarter. Institutional investors and hedge funds own 70.17% of the company’s stock.

Emerson Electric Company (NYSE:EMR) traded up 0.34% during midday trading on Wednesday, reaching $58.55. 605,446 shares of the company’s stock traded hands. Emerson Electric Company has a 52-week low of $49.22 and a 52-week high of $64.36. The stock has a market cap of $37.47 billion, a P/E ratio of 26.13 and a beta of 1.20. The company’s 50-day moving average price is $59.67 and its 200-day moving average price is $59.78.

Emerson Electric (NYSE:EMR) last released its quarterly earnings results on Tuesday, August 1st. The industrial products company reported $0.68 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.68. The business had revenue of $4.04 billion during the quarter, compared to analyst estimates of $3.99 billion. Emerson Electric had a net margin of 8.89% and a return on equity of 22.32%. The company’s quarterly revenue was up 9.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.68 earnings per share. On average, equities analysts predict that Emerson Electric Company will post $2.61 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Monday, September 11th. Shareholders of record on Friday, August 11th will be given a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 3.29%. The ex-dividend date is Wednesday, August 9th. Emerson Electric’s payout ratio is 85.33%.

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Several equities analysts recently issued reports on the stock. Stifel Nicolaus restated a “buy” rating and issued a $67.00 target price (up previously from $65.00) on shares of Emerson Electric in a report on Monday, May 15th. Cowen and Company restated a “hold” rating and issued a $62.00 target price on shares of Emerson Electric in a report on Tuesday, May 2nd. BidaskClub lowered shares of Emerson Electric from a “sell” rating to a “strong sell” rating in a report on Friday, August 18th. Royal Bank Of Canada restated a “hold” rating and issued a $62.00 target price on shares of Emerson Electric in a report on Tuesday, June 6th. Finally, TheStreet upgraded shares of Emerson Electric from a “c+” rating to a “b” rating in a report on Thursday, May 4th. Three investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and three have assigned a buy rating to the company. Emerson Electric has an average rating of “Hold” and an average target price of $60.52.

About Emerson Electric

Emerson Electric Co is a diversified global manufacturing company, which provides solutions to customers by bringing technology and engineering together in the industrial, commercial and consumer markets around the world. The Company operates through four segments based on the nature of the products and services rendered: Process Management, Industrial Automation, Climate Technologies and Commercial & Residential Solutions.

Institutional Ownership by Quarter for Emerson Electric (NYSE:EMR)

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