Harvey Investment Co. LLC Grows Stock Holdings in Emerson Electric Co. (NYSE:EMR)

Harvey Investment Co. LLC raised its stake in Emerson Electric Co. (NYSE:EMR - Free Report) by 55.8% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,700 shares of the industrial products company's stock after buying an additional 2,400 shares during the period. Harvey Investment Co. LLC's holdings in Emerson Electric were worth $735,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently added to or reduced their stakes in the company. Orion Capital Management LLC purchased a new stake in Emerson Electric in the 4th quarter valued at about $25,000. Vega Investment Solutions bought a new stake in shares of Emerson Electric in the 4th quarter valued at about $27,000. Murphy & Mullick Capital Management Corp bought a new stake in shares of Emerson Electric in the 4th quarter valued at about $28,000. Ameriflex Group Inc. bought a new stake in shares of Emerson Electric in the 4th quarter valued at about $30,000. Finally, Inlight Wealth Management LLC bought a new stake in shares of Emerson Electric in the 1st quarter valued at about $28,000. 74.30% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Robert W. Baird reduced 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. JPMorgan Chase & Co. boosted their price target on shares of Emerson Electric from $113.00 to $133.00 and gave the company a "neutral" rating in a report on Friday, May 16th. KeyCorp boosted their price target on shares of Emerson Electric from $125.00 to $150.00 and gave the company an "overweight" rating in a report on Friday, June 13th. Wells Fargo & Company boosted their price target on shares of Emerson Electric from $121.00 to $135.00 and gave the company an "overweight" rating in a report on Wednesday, May 21st. Finally, Royal Bank Of Canada boosted their price target on shares of Emerson Electric from $123.00 to $124.00 and gave the company an "outperform" rating in a report on Thursday, May 8th. Two analysts have rated the stock with a sell rating, four have given a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $136.47.

Emerson Electric Stock Down 0.3%

NYSE:EMR opened at $128.30 on Friday. The company has a market cap of $72.17 billion, a PE ratio of 30.69, a P/E/G ratio of 2.54 and a beta of 1.28. Emerson Electric Co. has a twelve month low of $90.06 and a twelve month high of $134.85. The company has a current ratio of 0.80, a quick ratio of 0.59 and a debt-to-equity ratio of 0.42. The company's 50 day moving average is $115.14 and its two-hundred day moving average is $118.14.

Emerson Electric (NYSE:EMR - Get Free Report) last released its earnings results 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 company had revenue of $4.43 billion for 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%. Emerson Electric's revenue was up 1.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.36 EPS. Analysts anticipate that Emerson Electric Co. will post 5.96 EPS for the current year.

Emerson Electric Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Friday, May 16th were given a dividend of $0.5275 per share. This represents a $2.11 annualized dividend and a yield of 1.64%. The ex-dividend date of this dividend was Friday, May 16th. Emerson Electric's dividend payout ratio is presently 50.48%.

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 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 now directly owns 164,957 shares of the company's stock, valued at $18,694,576.81. This represents a 9.19% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.50% of the company's stock.

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.

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