Emerson Electric Co. $EMR Shares Sold by Knights of Columbus Asset Advisors LLC

Key Points

• Knights of Columbus Asset Advisors LLC reduced its stake in Emerson Electric Co. by 50.2%, now owning 23,599 shares valued at $3,146,000.
• Emerson Electric reported $1.52 EPS for the last quarter, slightly exceeding analyst expectations, while revenue was $4.55 billion, below estimates of $4.60 billion.
• Several institutional investors, including Wellington Management and Goldman Sachs, have increased their holdings in Emerson Electric, indicating strong institutional interest in the company.

Knights of Columbus Asset Advisors LLC lessened its stake in shares of Emerson Electric Co. (NYSE:EMR - Free Report) by 50.2% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 23,599 shares of the industrial products company's stock after selling 23,796 shares during the period. Knights of Columbus Asset Advisors LLC's holdings in Emerson Electric were worth $3,146,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Wellington Management Group LLP lifted its position in Emerson Electric by 6.9% during the 1st quarter. Wellington Management Group LLP now owns 15,280,950 shares of the industrial products company's stock worth $1,675,403,000 after acquiring an additional 980,652 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of Emerson Electric by 9.3% during the first quarter. JPMorgan Chase & Co. now owns 7,166,817 shares of the industrial products company's stock worth $785,770,000 after purchasing an additional 611,105 shares during the period. Nuveen LLC purchased a new stake in Emerson Electric in the first quarter valued at approximately $737,318,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in Emerson Electric by 5.8% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,086,580 shares of the industrial products company's stock worth $448,053,000 after buying an additional 223,831 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its holdings in shares of Emerson Electric by 18.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 3,793,436 shares of the industrial products company's stock valued at $415,912,000 after acquiring an additional 579,653 shares during the last quarter. 74.30% of the stock is owned by hedge funds and other institutional investors.

Emerson Electric Price Performance

Shares of NYSE EMR opened at $134.82 on Tuesday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.63 and a current ratio of 0.85. The firm has a market cap of $75.88 billion, a PE ratio of 28.99, a PEG ratio of 2.34 and a beta of 1.29. Emerson Electric Co. has a one year low of $90.06 and a one year high of $150.27. The firm has a fifty day moving average of $133.84 and a 200 day moving average of $124.88.

Emerson Electric (NYSE:EMR - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The industrial products company reported $1.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.51 by $0.01. The company had revenue of $4.55 billion for the quarter, compared to analysts' expectations of $4.60 billion. Emerson Electric had a return on equity of 14.34% and a net margin of 14.92%.Emerson Electric's revenue was up 3.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.43 EPS. As a group, research analysts predict that Emerson Electric Co. will post 5.96 EPS for the current fiscal year.

Emerson Electric Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Friday, August 15th were given a dividend of $0.5275 per share. The ex-dividend date was Friday, August 15th. This represents a $2.11 dividend on an annualized basis and a yield of 1.6%. Emerson Electric's dividend payout ratio (DPR) is presently 45.38%.

Analysts Set New Price Targets

Several research firms have commented on EMR. Barclays raised shares of Emerson Electric from an "underweight" rating to an "equal weight" rating and upped their price target for the company from $125.00 to $127.00 in a report on Thursday, August 7th. Stephens raised their target price on Emerson Electric from $130.00 to $145.00 and gave the stock an "equal weight" rating in a report on Wednesday, July 16th. Wells Fargo & Company reiterated an "equal weight" rating and set a $140.00 price target (down from $150.00) on shares of Emerson Electric in a research report on Monday. Deutsche Bank Aktiengesellschaft upped their price objective on Emerson Electric from $157.00 to $159.00 and gave the stock a "buy" rating in a research report on Thursday, October 2nd. Finally, TD Cowen raised shares of Emerson Electric to a "strong-buy" rating in a report on Tuesday, July 8th. Two investment analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $144.29.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.