Zurcher Kantonalbank Zurich Cantonalbank Lowers Holdings in Emerson Electric Co. (NYSE:EMR)

Key Points

• Zurcher Kantonalbank has reduced its stake in Emerson Electric Co. by 6.0%, now holding approximately $26.96 million worth of shares.
• Several investment firms increased their positions in Emerson Electric, with Brighton Jones LLC increasing its stake by 74.1%.
• Analysts have a consensus rating of "Moderate Buy" for Emerson Electric, with target prices ranging from $124.00 to $155.00.

Zurcher Kantonalbank Zurich Cantonalbank cut its holdings in shares of Emerson Electric Co. (NYSE:EMR - Free Report) by 6.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 245,888 shares of the industrial products company's stock after selling 15,587 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank's holdings in Emerson Electric were worth $26,959,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Geode Capital Management LLC grew its holdings in Emerson Electric by 2.0% during the 4th quarter. Geode Capital Management LLC now owns 11,685,615 shares of the industrial products company's stock worth $1,443,725,000 after acquiring an additional 232,540 shares during the period. Northern Trust Corp lifted its position in shares of Emerson Electric by 5.9% during the 4th quarter. Northern Trust Corp now owns 6,676,168 shares of the industrial products company's stock worth $827,377,000 after buying an additional 370,560 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Emerson Electric by 9.6% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,862,749 shares of the industrial products company's stock worth $478,710,000 after buying an additional 339,355 shares during the last quarter. Royal Bank of Canada boosted its stake in shares of Emerson Electric by 10.0% in the 4th quarter. Royal Bank of Canada now owns 3,309,998 shares of the industrial products company's stock worth $410,207,000 after buying an additional 299,929 shares during the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its stake in shares of Emerson Electric by 3,866.2% in the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 3,022,517 shares of the industrial products company's stock worth $374,581,000 after buying an additional 2,946,310 shares during the last quarter. 74.30% of the stock is currently owned by institutional investors.

Emerson Electric Stock Performance

Shares of NYSE EMR traded down $4.48 during midday trading on Friday, hitting $141.04. 1,934,507 shares of the company's stock were exchanged, compared to its average volume of 3,068,606. 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 12 month low of $90.06 and a 12 month high of $150.27. The company's 50 day moving average price is $133.17 and its 200 day moving average price is $121.15. The firm has a market capitalization of $79.33 billion, a PE ratio of 33.77, a price-to-earnings-growth ratio of 2.83 and a beta of 1.29.

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. Emerson Electric had a return on equity of 13.22% and a net margin of 13.60%. The business had revenue of $4.43 billion during the quarter, compared to the consensus estimate of $4.42 billion. During the same period in the prior year, the company earned $1.36 EPS. Emerson Electric's revenue for the quarter was up 1.3% on a year-over-year basis. As a group, analysts predict that Emerson Electric Co. will post 5.96 earnings per share for the current fiscal year.

Emerson Electric Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Friday, May 16th were paid a $0.5275 dividend. This represents a $2.11 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date of this dividend was Friday, May 16th. Emerson Electric's dividend payout ratio (DPR) is 50.48%.

Wall Street Analysts Forecast Growth

EMR has been the topic of a number of analyst reports. Bank of America boosted their target price on shares of Emerson Electric from $130.00 to $155.00 and gave the company a "buy" rating in a report on Wednesday, July 2nd. TD Cowen raised Emerson Electric to a "strong-buy" rating in a research note on Tuesday, July 8th. Robert W. Baird dropped their target price 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. Wells Fargo & Company lifted their target price on shares of Emerson Electric from $135.00 to $150.00 and gave the company an "overweight" rating in a report on Tuesday, July 1st. Finally, Citigroup lifted their target price on shares of Emerson Electric from $146.00 to $165.00 and gave the company a "buy" rating in a report on Monday, July 14th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $142.28.

Insider Buying and Selling

In related news, CEO Surendralal Lanca Karsanbhai sold 16,698 shares of Emerson Electric stock in a transaction that occurred on 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 transaction, the chief executive officer owned 164,957 shares of the company's stock, valued at $18,694,576.81. The trade was a 9.19% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company 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.