Carnegie Investment Counsel Has $12.33 Million Position in Emerson Electric Co. (NYSE:EMR)

Carnegie Investment Counsel lifted its stake in shares of Emerson Electric Co. (NYSE:EMR - Free Report) by 16.6% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 112,416 shares of the industrial products company's stock after purchasing an additional 16,022 shares during the period. Carnegie Investment Counsel's holdings in Emerson Electric were worth $12,325,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. Brighton Jones LLC increased its position in shares of Emerson Electric by 74.1% in the fourth quarter. Brighton Jones LLC now owns 11,392 shares of the industrial products company's stock worth $1,412,000 after acquiring an additional 4,850 shares in the last quarter. Proficio Capital Partners LLC purchased a new position in Emerson Electric during the 4th quarter worth approximately $291,000. Thrivent Financial for Lutherans raised its stake in Emerson Electric by 10.6% during the 4th quarter. Thrivent Financial for Lutherans now owns 33,039 shares of the industrial products company's stock valued at $4,113,000 after purchasing an additional 3,177 shares during the period. LPL Financial LLC lifted its holdings in shares of Emerson Electric by 4.4% in the fourth quarter. LPL Financial LLC now owns 869,880 shares of the industrial products company's stock valued at $107,804,000 after purchasing an additional 36,709 shares in the last quarter. Finally, Congress Wealth Management LLC DE acquired a new stake in shares of Emerson Electric in the fourth quarter worth $265,000. 74.30% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Emerson Electric

In related news, CEO Surendralal Lanca Karsanbhai sold 16,698 shares of Emerson Electric 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 directly owned 164,957 shares of the company's stock, valued at $18,694,576.81. This trade represents a 9.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.50% of the company's stock.

Analyst Ratings Changes

Several research firms recently weighed in on EMR. Barclays upped their price target on Emerson Electric from $118.00 to $125.00 and gave the company an "underweight" rating in a research report on Wednesday, July 9th. Citigroup upped their target price on Emerson Electric from $146.00 to $165.00 and gave the company a "buy" rating in a report on Monday, July 14th. TD Cowen raised shares of Emerson Electric to a "strong-buy" rating in a research report on Tuesday, July 8th. JPMorgan Chase & Co. boosted their price objective on shares of Emerson Electric from $113.00 to $133.00 and gave the company a "neutral" rating in a research report on Friday, May 16th. Finally, Royal Bank Of Canada upped their price objective on shares of Emerson Electric from $123.00 to $124.00 and gave the company an "outperform" rating in a research note on Thursday, May 8th. Two analysts have rated the stock with a sell rating, four have issued a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, Emerson Electric presently has an average rating of "Moderate Buy" and an average price target of $142.28.

Emerson Electric Stock Up 1.9%

Shares of NYSE:EMR traded up $2.86 on Friday, reaching $149.68. The company had a trading volume of 2,594,108 shares, compared to its average volume of 2,612,257. The stock has a market capitalization of $84.20 billion, a P/E ratio of 35.81, a P/E/G ratio of 2.85 and a beta of 1.29. The stock has a 50-day moving average price of $130.24 and a 200 day moving average price of $120.18. Emerson Electric Co. has a twelve month low of $90.06 and a twelve month high of $149.84. The company has a quick ratio of 0.59, a current ratio of 0.80 and a debt-to-equity ratio of 0.42.

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, topping the consensus estimate of $1.41 by $0.07. Emerson Electric had a return on equity of 13.22% and a net margin of 13.60%. The firm had revenue of $4.43 billion during the quarter, compared to analyst estimates of $4.42 billion. During the same period in the previous year, the company earned $1.36 EPS. The company's revenue for the quarter was up 1.3% on a year-over-year basis. On average, equities analysts expect that Emerson Electric Co. will post 5.96 EPS for the current year.

Emerson Electric Dividend Announcement

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 dividend of $0.5275 per share. The ex-dividend date was Friday, May 16th. This represents a $2.11 annualized dividend and a dividend yield of 1.41%. Emerson Electric's payout ratio is 50.48%.

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.