Assenagon Asset Management S.A. Sells 242,040 Shares of Emerson Electric Co. (NYSE:EMR)

Assenagon Asset Management S.A. decreased its stake in Emerson Electric Co. (NYSE:EMR - Free Report) by 62.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 144,385 shares of the industrial products company's stock after selling 242,040 shares during the period. Assenagon Asset Management S.A.'s holdings in Emerson Electric were worth $15,830,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Orion Capital Management LLC acquired a new position in Emerson Electric during the 4th quarter worth approximately $25,000. Vega Investment Solutions acquired a new position in shares of Emerson Electric during the fourth quarter valued at about $27,000. Murphy & Mullick Capital Management Corp acquired a new stake in shares of Emerson Electric in the 4th quarter worth about $28,000. Ameriflex Group Inc. acquired a new position in Emerson Electric during the 4th quarter valued at about $30,000. Finally, Meeder Asset Management Inc. increased its holdings in Emerson Electric by 208.2% during the 4th quarter. Meeder Asset Management Inc. now owns 299 shares of the industrial products company's stock worth $37,000 after purchasing an additional 202 shares in the last quarter. 74.30% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Robert W. Baird cut their price objective on shares of Emerson Electric from $140.00 to $130.00 and set a "neutral" rating on the stock in a report on Thursday, May 8th. Citigroup increased their price target on Emerson Electric from $133.00 to $146.00 and gave the company a "buy" rating in a research report on Wednesday, June 4th. JPMorgan Chase & Co. lifted their target price on Emerson Electric from $113.00 to $133.00 and gave the stock a "neutral" rating in a research note on Friday, May 16th. Wells Fargo & Company lifted their price objective on shares of Emerson Electric from $121.00 to $135.00 and gave the stock an "overweight" rating in a research report on Wednesday, May 21st. Finally, Wall Street Zen upgraded Emerson Electric from a "hold" rating to a "buy" rating in a research note on Friday, May 9th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, Emerson Electric currently has a consensus rating of "Moderate Buy" and a consensus target price of $136.47.

Emerson Electric Trading Up 2.5%

NYSE:EMR traded up $3.09 during trading hours on Monday, reaching $128.63. The company's stock had a trading volume of 2,853,591 shares, compared to its average volume of 2,959,060. The firm has a 50-day simple moving average of $112.36 and a 200-day simple moving average of $118.22. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.17 and a current ratio of 1.54. Emerson Electric Co. has a 1 year low of $90.06 and a 1 year high of $134.85. The firm has a market capitalization of $72.36 billion, a price-to-earnings ratio of 30.70, a PEG ratio of 2.49 and a beta of 1.28.

Emerson Electric (NYSE:EMR - Get Free Report) last issued its earnings results on Wednesday, May 7th. The industrial products company reported $1.48 earnings per share (EPS) 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 firm had revenue of $4.43 billion for the quarter, compared to analysts' expectations of $4.42 billion. During the same quarter last year, the business earned $1.36 earnings per share. The business's revenue was up 1.3% on a year-over-year basis. Research analysts expect that Emerson Electric Co. will post 5.96 EPS for the current fiscal year.

Emerson Electric Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Friday, May 16th were given a dividend of $0.5275 per share. This represents a $2.11 dividend on an annualized basis and a yield of 1.64%. The ex-dividend date of this dividend was Friday, May 16th. Emerson Electric's payout ratio is 50.48%.

Insiders Place Their Bets

In related news, CEO Surendralal Lanca Karsanbhai sold 16,698 shares of the 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 completion of the transaction, the chief executive officer now directly owns 164,957 shares in the company, valued at $18,694,576.81. This trade represents a 9.19% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.50% of the company's stock.

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.