Perigon Wealth Management LLC Cuts Position in Emerson Electric Co. (NYSE:EMR)

Perigon Wealth Management LLC lessened its stake in Emerson Electric Co. (NYSE:EMR - Free Report) by 11.9% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 21,715 shares of the industrial products company's stock after selling 2,940 shares during the quarter. Perigon Wealth Management LLC's holdings in Emerson Electric were worth $2,381,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Alpine Bank Wealth Management purchased a new stake in Emerson Electric during the first quarter worth $412,000. Golden State Wealth Management LLC raised its position in shares of Emerson Electric by 39.5% in the first quarter. Golden State Wealth Management LLC now owns 1,048 shares of the industrial products company's stock worth $115,000 after acquiring an additional 297 shares during the period. Bessemer Group Inc. boosted its stake in shares of Emerson Electric by 21.0% during the 1st quarter. Bessemer Group Inc. now owns 29,030 shares of the industrial products company's stock worth $3,183,000 after acquiring an additional 5,047 shares in the last quarter. Spire Wealth Management grew its position in shares of Emerson Electric by 1.7% during the 1st quarter. Spire Wealth Management now owns 6,947 shares of the industrial products company's stock valued at $762,000 after acquiring an additional 114 shares during the period. Finally, Mattern Capital Management LLC increased its stake in shares of Emerson Electric by 0.9% in the 1st quarter. Mattern Capital Management LLC now owns 79,288 shares of the industrial products company's stock valued at $8,693,000 after purchasing an additional 730 shares in the last quarter. Hedge funds and other institutional investors own 74.30% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on EMR. JPMorgan Chase & Co. raised their price objective on Emerson Electric from $113.00 to $133.00 and gave the company a "neutral" rating in a report on Friday, May 16th. Robert W. Baird cut their price target on shares of Emerson Electric from $140.00 to $130.00 and set a "neutral" rating for the company in a report on Thursday, May 8th. Citigroup increased their price objective 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. KeyCorp boosted their target price on shares of Emerson Electric from $125.00 to $150.00 and gave the stock an "overweight" rating in a research note on Friday, June 13th. Finally, Wall Street Zen raised shares of Emerson Electric from a "hold" rating to a "buy" rating in a research note on Friday, May 9th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $136.47.

Emerson Electric Trading Up 0.3%

NYSE:EMR traded up $0.43 on Friday, hitting $133.16. The stock had a trading volume of 4,286,946 shares, compared to its average volume of 2,977,452. The company has a fifty day moving average price of $118.27 and a two-hundred day moving average price of $118.15. The stock has a market cap of $74.90 billion, a price-to-earnings ratio of 31.86, a PEG ratio of 2.63 and a beta of 1.28. 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 Co. has a 1-year low of $90.06 and a 1-year high of $134.85.

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 (EPS) 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 company had revenue of $4.43 billion during the quarter, compared to analysts' expectations of $4.42 billion. During the same quarter last year, the firm earned $1.36 earnings per share. The firm's quarterly revenue was up 1.3% compared to the same quarter last year. Equities research analysts expect that Emerson Electric Co. will post 5.96 earnings per share for the current fiscal year.

Emerson Electric Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Investors 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 yield of 1.58%. Emerson Electric's dividend payout ratio (DPR) is presently 50.48%.

Insider Activity

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 now directly owns 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. Insiders own 0.50% of the company's stock.

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.