Axxcess Wealth Management LLC Reduces Stake in Emerson Electric Co. (NYSE:EMR)

Axxcess Wealth Management LLC lowered its holdings in shares of Emerson Electric Co. (NYSE:EMR - Free Report) by 15.7% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 45,627 shares of the industrial products company's stock after selling 8,485 shares during the quarter. Axxcess Wealth Management LLC's holdings in Emerson Electric were worth $5,003,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Norges Bank purchased a new stake in Emerson Electric during the 4th quarter valued at $885,886,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its position in Emerson Electric by 3,866.2% during the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 3,022,517 shares of the industrial products company's stock valued at $374,581,000 after purchasing an additional 2,946,310 shares in the last quarter. Boston Partners boosted its position in Emerson Electric by 136.3% during the fourth quarter. Boston Partners now owns 3,316,466 shares of the industrial products company's stock valued at $411,944,000 after purchasing an additional 1,913,120 shares in the last quarter. GAMMA Investing LLC boosted its holdings in Emerson Electric by 12,707.7% in the first quarter. GAMMA Investing LLC now owns 1,126,441 shares of the industrial products company's stock worth $123,503,000 after acquiring an additional 1,117,646 shares in the last quarter. Finally, Lazard Asset Management LLC boosted its holdings in Emerson Electric by 230,061.8% in the fourth quarter. Lazard Asset Management LLC now owns 819,376 shares of the industrial products company's stock worth $101,545,000 after acquiring an additional 819,020 shares in the last quarter. Hedge funds and other institutional investors own 74.30% of the company's stock.

Emerson Electric Trading Down 0.2%

NYSE EMR traded down $0.29 on Friday, reaching $140.38. 899,688 shares of the company were exchanged, compared to its average volume of 2,999,485. The business's fifty day moving average price is $124.48 and its 200 day moving average price is $118.90. The stock has a market capitalization of $78.96 billion, a P/E ratio of 33.61, a price-to-earnings-growth ratio of 2.71 and a beta of 1.29. The company has a current ratio of 0.80, a quick ratio of 0.59 and a debt-to-equity ratio of 0.42. Emerson Electric Co. has a fifty-two week low of $90.06 and a fifty-two week high of $142.32.

Emerson Electric (NYSE:EMR - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The industrial products company reported $1.48 earnings per share for the quarter, topping analysts' consensus estimates of $1.41 by $0.07. Emerson Electric had a return on equity of 13.22% and a net margin of 13.60%. The company had revenue of $4.43 billion for the quarter, compared to analyst estimates of $4.42 billion. During the same quarter in the previous year, the company posted $1.36 earnings per share. The firm's revenue for the quarter was up 1.3% compared to the same quarter last year. Analysts forecast that Emerson Electric Co. will post 5.96 earnings per share for the current year.

Emerson Electric Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Friday, May 16th were paid a dividend of $0.5275 per share. This represents a $2.11 annualized dividend and a yield of 1.50%. The ex-dividend date of this dividend was Friday, May 16th. Emerson Electric's payout ratio is 50.48%.

Insider Transactions at Emerson Electric

In other Emerson Electric news, CEO Surendralal Lanca Karsanbhai sold 16,698 shares of the company's stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $113.33, for a total transaction of $1,892,384.34. Following the sale, the chief executive officer owned 164,957 shares in the company, valued at $18,694,576.81. This represents a 9.19% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.50% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Barclays raised their price objective on Emerson Electric from $118.00 to $125.00 and gave the stock an "underweight" rating in a research note on Wednesday. Wells Fargo & Company lifted their price target on Emerson Electric from $135.00 to $150.00 and gave the company an "overweight" rating in a research report on Tuesday, July 1st. Wall Street Zen upgraded Emerson Electric from a "hold" rating to a "buy" rating in a research report on Friday, May 9th. Bank of America raised their price objective on Emerson Electric from $130.00 to $155.00 and gave the company a "buy" rating in a report on Wednesday, July 2nd. Finally, TD Cowen raised Emerson Electric to a "strong-buy" rating in a report on Tuesday. Two research analysts have rated the stock with a sell rating, four have given a hold rating, twelve have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, Emerson Electric presently has a consensus rating of "Moderate Buy" and an average target price of $139.83.

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.