Bank of New York Mellon Corp Reduces Holdings in Emerson Electric Co. (NYSE:EMR)

Bank of New York Mellon Corp decreased its position in shares of Emerson Electric Co. (NYSE:EMR - Free Report) by 5.7% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,477,449 shares of the industrial products company's stock after selling 268,192 shares during the period. Bank of New York Mellon Corp owned 0.79% of Emerson Electric worth $490,907,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Norges Bank purchased a new position in shares of Emerson Electric in the fourth quarter worth $885,886,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its holdings in shares of 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 worth $374,581,000 after purchasing an additional 2,946,310 shares during the last quarter. Boston Partners raised its holdings in shares of Emerson Electric by 136.3% during the fourth quarter. Boston Partners now owns 3,316,466 shares of the industrial products company's stock worth $411,944,000 after purchasing an additional 1,913,120 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of Emerson Electric by 12,707.7% during the first quarter. GAMMA Investing LLC now owns 1,126,441 shares of the industrial products company's stock worth $123,503,000 after purchasing an additional 1,117,646 shares during the last quarter. Finally, AMF Tjanstepension AB raised its holdings in shares of Emerson Electric by 774.0% during the fourth quarter. AMF Tjanstepension AB now owns 959,812 shares of the industrial products company's stock worth $118,958,000 after purchasing an additional 849,992 shares during the last quarter. Hedge funds and other institutional investors own 74.30% of the company's stock.

Insider Activity at Emerson Electric

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

Emerson Electric Trading Up 0.5%

NYSE:EMR traded up $0.76 on Tuesday, hitting $139.16. The stock had a trading volume of 1,100,734 shares, compared to its average volume of 2,989,124. The company has a quick ratio of 0.59, a current ratio of 0.80 and a debt-to-equity ratio of 0.42. The stock has a market cap of $78.28 billion, a price-to-earnings ratio of 33.29, a PEG ratio of 2.71 and a beta of 1.29. The company has a fifty day moving average price of $122.42 and a two-hundred day moving average price of $118.50. Emerson Electric Co. has a 1-year low of $90.06 and a 1-year high of $139.90.

Emerson Electric (NYSE:EMR - Get Free Report) last posted its earnings results on Wednesday, May 7th. The industrial products company reported $1.48 earnings per share for the quarter, beating the consensus estimate of $1.41 by $0.07. Emerson Electric had a net margin of 13.60% and a return on equity of 13.22%. The company had revenue of $4.43 billion for the quarter, compared to analyst estimates of $4.42 billion. During the same period in the previous year, the business posted $1.36 EPS. Emerson Electric's revenue was up 1.3% on a year-over-year basis. Equities research analysts expect that Emerson Electric Co. will post 5.96 earnings per share for the current fiscal year.

Emerson Electric Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Friday, May 16th were issued a $0.5275 dividend. The ex-dividend date of this dividend was Friday, May 16th. This represents a $2.11 annualized dividend and a dividend yield of 1.52%. Emerson Electric's dividend payout ratio is currently 50.48%.

Analyst Ratings Changes

Several research firms recently commented on EMR. Robert W. Baird dropped their price target on shares of Emerson Electric from $140.00 to $130.00 and set a "neutral" rating on the stock in a research report on Thursday, May 8th. TD Cowen started coverage on shares of Emerson Electric in a research report on Monday. They set a "buy" rating and a $150.00 price target on the stock. Wells Fargo & Company lifted their target price on shares of Emerson Electric from $135.00 to $150.00 and gave the company an "overweight" rating in a research report on Tuesday, July 1st. KeyCorp lifted their target price on shares of Emerson Electric from $150.00 to $155.00 and gave the company an "overweight" rating in a research report on Tuesday, July 1st. Finally, Royal Bank Of Canada lifted their target price on shares of Emerson Electric from $123.00 to $124.00 and gave the company an "outperform" rating in a research report on Thursday, May 8th. Two research analysts have rated the stock with a sell rating, four have given a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Emerson Electric currently has a consensus rating of "Moderate Buy" and an average price target of $139.21.

Emerson Electric 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.