Miracle Mile Advisors LLC Sells 454 Shares of Emerson Electric Co. (NYSE:EMR)

Miracle Mile Advisors LLC lowered its holdings in shares of Emerson Electric Co. (NYSE:EMR) by 2.5% in the 1st quarter, Holdings Channel.com reports. The fund owned 17,922 shares of the industrial products company’s stock after selling 454 shares during the period. Miracle Mile Advisors LLC’s holdings in Emerson Electric were worth $1,965,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of EMR. Brighton Jones LLC raised its stake in Emerson Electric by 74.1% during the fourth quarter. Brighton Jones LLC now owns 11,392 shares of the industrial products company’s stock worth $1,412,000 after buying an additional 4,850 shares during the last quarter. Stratos Wealth Advisors LLC bought a new position in Emerson Electric during the fourth quarter worth $204,000. Strategic Financial Concepts LLC bought a new position in Emerson Electric during the fourth quarter worth $2,169,000. Golden State Wealth Management LLC bought a new position in Emerson Electric during the fourth quarter worth $93,000. Finally, Thompson Investment Management Inc. raised its stake in Emerson Electric by 155.8% during the fourth quarter. Thompson Investment Management Inc. now owns 985 shares of the industrial products company’s stock worth $122,000 after buying an additional 600 shares during the last quarter. Institutional investors own 74.30% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. JPMorgan Chase & Co. lifted their target price on shares of Emerson Electric from $113.00 to $133.00 and gave the stock a “neutral” rating in a research note on Friday, May 16th. Wall Street Zen upgraded shares of Emerson Electric from a “hold” rating to a “buy” rating in a report on Friday, May 9th. Citigroup raised their price target on shares of Emerson Electric from $133.00 to $146.00 and gave the stock a “buy” rating in a report on Wednesday, June 4th. Royal Bank of Canada raised their price target on shares of Emerson Electric from $123.00 to $124.00 and gave the stock an “outperform” rating in a report on Thursday, May 8th. Finally, Barclays raised their price target on shares of Emerson Electric from $104.00 to $112.00 and gave the stock an “underweight” rating in a report on Friday, May 30th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $134.65.

Emerson Electric Stock Up 1.0%

Shares of NYSE EMR opened at $123.68 on Monday. The stock has a market capitalization of $69.57 billion, a P/E ratio of 29.52, a P/E/G ratio of 2.49 and a beta of 1.28. The company has a 50-day moving average price of $109.70 and a 200-day moving average price of $118.43. Emerson Electric Co. has a 1 year low of $90.06 and a 1 year high of $134.85. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.54 and a quick ratio of 1.17.

Emerson Electric (NYSE:EMR) last released its quarterly earnings results on Wednesday, May 7th. The industrial products company reported $1.48 earnings per share for the quarter, topping the consensus estimate of $1.41 by $0.07. Emerson Electric had a net margin of 13.74% and a return on equity of 12.08%. The business had revenue of $4.43 billion for the quarter, compared to analysts’ expectations of $4.42 billion. During the same period in the previous year, the company earned $1.36 earnings per share. The firm’s revenue for the quarter was up 1.3% compared to the same quarter last year. On average, equities research analysts forecast that Emerson Electric Co. will post 5.96 EPS for the current fiscal year.

Emerson Electric Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Friday, May 16th will be issued a dividend of $0.5275 per share. This represents a $2.11 annualized dividend and a yield of 1.71%. The ex-dividend date is Friday, May 16th. Emerson Electric’s dividend payout ratio (DPR) is presently 50.48%.

Insider Buying and Selling

In other Emerson Electric news, CEO Surendralal Lanca Karsanbhai sold 16,698 shares of Emerson Electric stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $113.33, for a total value of $1,892,384.34. Following the sale, the chief executive officer now owns 164,957 shares of the company’s stock, valued at approximately $18,694,576.81. The trade was a 9.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.50% of the stock is 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.