Emerson Electric Co. (NYSE:EMR) Shares Sold by Canoe Financial LP

Canoe Financial LP cut its stake in shares of Emerson Electric Co. (NYSE:EMR - Free Report) by 44.9% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 247,263 shares of the industrial products company's stock after selling 201,111 shares during the quarter. Canoe Financial LP's holdings in Emerson Electric were worth $27,110,000 at the end of the most recent quarter.

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

Emerson Electric Trading Down 0.3%

Shares of EMR stock opened at $128.30 on Friday. The firm has a market cap of $72.17 billion, a P/E ratio of 30.69, a PEG ratio of 2.54 and a beta of 1.28. Emerson Electric Co. has a 1-year low of $90.06 and a 1-year high of $134.85. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.80 and a quick ratio of 0.59. The firm's 50-day simple moving average is $115.14 and its 200-day simple moving average is $118.26.

Emerson Electric (NYSE:EMR - Get Free Report) last announced its quarterly earnings data 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. The business had revenue of $4.43 billion for the quarter, compared to analyst estimates of $4.42 billion. Emerson Electric had a net margin of 13.60% and a return on equity of 13.22%. The company's revenue was up 1.3% on a year-over-year basis. During the same period in the prior year, the firm posted $1.36 EPS. As a group, equities analysts forecast that Emerson Electric Co. will post 5.96 EPS for the current year.

Emerson Electric Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Investors 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 was Friday, May 16th. Emerson Electric's dividend payout ratio (DPR) is presently 50.48%.

Insider Buying and Selling

In related 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 completion of the sale, the chief executive officer now owns 164,957 shares of the company's stock, valued at approximately $18,694,576.81. This represents a 9.19% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.50% of the company's stock.

Wall Street Analyst Weigh In

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

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.

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