Emerson Electric Co. (NYSE:EMR) Stake Lessened by PNC Financial Services Group Inc.

Key Points

• PNC Financial Services Group Inc. reduced its stake in Emerson Electric Co. by 1.5%, now owning approximately 1.79 million shares worth $196 million.
• Emerson's CEO Surendralal Lanca Karsanbhai sold 16,698 shares, reducing his holdings by 9.19% and maintaining 164,957 shares valued at $18.7 million.
• Emerson Electric has a market capitalization of $79.70 billion and reported earnings per share of $1.48 for the last quarter, exceeding the consensus estimate.

PNC Financial Services Group Inc. lessened its stake in shares of Emerson Electric Co. (NYSE:EMR - Free Report) by 1.5% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 1,787,862 shares of the industrial products company's stock after selling 26,500 shares during the period. PNC Financial Services Group Inc. owned approximately 0.32% of Emerson Electric worth $196,021,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Orion Capital Management LLC purchased a new position in Emerson Electric during the 4th quarter valued at $25,000. Vega Investment Solutions bought a new position in shares of Emerson Electric during the 4th quarter worth $27,000. Ameriflex Group Inc. purchased a new stake in shares of Emerson Electric in the 4th quarter worth approximately $30,000. MJT & Associates Financial Advisory Group Inc. purchased a new stake in Emerson Electric during the first quarter worth $27,000. Finally, Inlight Wealth Management LLC purchased a new position in Emerson Electric in the first quarter valued at about $28,000. 74.30% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on EMR. KeyCorp upped their target price on Emerson Electric from $150.00 to $155.00 and gave the company an "overweight" rating in a research report on Tuesday, July 1st. Stephens boosted their target price on shares of Emerson Electric from $130.00 to $145.00 and gave the company an "equal weight" rating in a report on Wednesday, July 16th. Wells Fargo & Company increased their target price on shares of Emerson Electric from $135.00 to $150.00 and gave the stock an "overweight" rating in a report on Tuesday, July 1st. Citigroup raised their price objective on Emerson Electric from $146.00 to $165.00 and gave the stock a "buy" rating in a report on Monday, July 14th. Finally, Royal Bank Of Canada increased their price target on Emerson Electric from $123.00 to $124.00 and gave the stock an "outperform" rating in a report on Thursday, May 8th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $142.28.

Insider Activity

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

Emerson Electric Trading Up 0.6%

NYSE:EMR traded up $0.87 during mid-day trading on Monday, reaching $142.65. The company's stock had a trading volume of 4,189,903 shares, compared to its average volume of 2,980,583. Emerson Electric Co. has a twelve month low of $90.06 and a twelve month high of $150.27. 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 company's fifty day simple moving average is $133.64 and its two-hundred day simple moving average is $121.29. The stock has a market cap of $80.24 billion, a P/E ratio of 34.13, a P/E/G ratio of 2.75 and a beta of 1.32.

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

Emerson Electric Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Friday, May 16th were given 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 1.5%. Emerson Electric's payout ratio is currently 50.48%.

About Emerson Electric

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.