Formidable Asset Management LLC Trims Position in Emerson Electric Co. (NYSE:EMR)

Formidable Asset Management LLC cut its position in shares of Emerson Electric Co. (NYSE:EMR - Free Report) by 27.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,491 shares of the industrial products company's stock after selling 3,236 shares during the period. Formidable Asset Management LLC's holdings in Emerson Electric were worth $931,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Norges Bank acquired a new position in shares of Emerson Electric in the fourth quarter worth approximately $885,886,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its holdings in Emerson Electric by 3,866.2% during 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 acquiring an additional 2,946,310 shares during the period. Massachusetts Financial Services Co. MA boosted its position in shares of Emerson Electric by 210.8% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 1,966,453 shares of the industrial products company's stock valued at $215,602,000 after purchasing an additional 1,333,839 shares in the last quarter. GAMMA Investing LLC increased its holdings in Emerson Electric by 12,707.7% in the first quarter. GAMMA Investing LLC now owns 1,126,441 shares of the industrial products company's stock worth $123,503,000 after purchasing an additional 1,117,646 shares in the last quarter. Finally, Lazard Asset Management LLC increased its position in Emerson Electric by 230,061.8% in the 4th quarter. Lazard Asset Management LLC now owns 819,376 shares of the industrial products company's stock valued at $101,545,000 after buying an additional 819,020 shares in the last quarter. Institutional investors and hedge funds own 74.30% of the company's stock.

Insider Activity at Emerson Electric

In other news, CEO Surendralal Lanca Karsanbhai sold 16,698 shares of the firm's stock in a transaction on Thursday, May 8th. The shares were sold at an average price of $113.33, for a total value of $1,892,384.34. Following the sale, the chief executive officer directly owned 164,957 shares in the company, valued at approximately $18,694,576.81. This trade represents a 9.19% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.50% of the stock is currently owned by corporate insiders.

Emerson Electric Stock Performance

EMR traded up $0.01 on Monday, reaching $144.24. 838,136 shares of the stock were exchanged, compared to its average volume of 2,989,119. Emerson Electric Co. has a fifty-two week low of $90.06 and a fifty-two week high of $145.58. The firm has a market capitalization of $81.14 billion, a PE ratio of 34.50, a PEG ratio of 2.80 and a beta of 1.29. 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 50-day moving average price is $128.27 and its 200 day moving average price is $119.51.

Emerson Electric (NYSE:EMR - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The industrial products company reported $1.48 earnings per share 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 the consensus estimate 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% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.36 earnings per share. As a group, sell-side analysts forecast that Emerson Electric Co. will post 5.96 EPS for the current fiscal year.

Emerson Electric Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Friday, May 16th were issued a $0.5275 dividend. This represents a $2.11 dividend on an annualized basis and a yield of 1.46%. The ex-dividend date of this dividend was Friday, May 16th. Emerson Electric's dividend payout ratio is presently 50.48%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on EMR. Robert W. Baird reduced their target price on 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 raised their price objective 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. Wall Street Zen upgraded Emerson Electric from a "hold" rating to a "buy" rating in a research note on Friday, May 9th. TD Cowen raised Emerson Electric to a "strong-buy" rating in a report on Tuesday, July 8th. Finally, JPMorgan Chase & Co. boosted 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. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $142.28.

Emerson Electric 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.