Keybank National Association OH Lowers Position in Emerson Electric Co. (NYSE:EMR)

Keybank National Association OH lessened its position in Emerson Electric Co. (NYSE:EMR - Free Report) by 1.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 516,445 shares of the industrial products company's stock after selling 6,235 shares during the quarter. Keybank National Association OH owned about 0.09% of Emerson Electric worth $56,623,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the business. Orion Capital Management LLC acquired a new position in shares of Emerson Electric during the fourth quarter valued at about $25,000. Vega Investment Solutions bought a new stake in shares of Emerson Electric in the 4th quarter worth approximately $27,000. Murphy & Mullick Capital Management Corp bought a new stake in shares of Emerson Electric in the 4th quarter worth approximately $28,000. Inlight Wealth Management LLC bought a new stake in shares of Emerson Electric during the first quarter valued at approximately $28,000. Finally, Fourth Dimension Wealth LLC raised its stake in shares of Emerson Electric by 145.3% in the first quarter. Fourth Dimension Wealth LLC now owns 260 shares of the industrial products company's stock valued at $29,000 after purchasing an additional 154 shares in the last quarter. 74.30% of the stock is owned by institutional investors.

Emerson Electric Stock Performance

NYSE:EMR traded up $1.64 during mid-day trading on Thursday, hitting $139.43. The stock had a trading volume of 755,758 shares, compared to its average volume of 2,968,807. The company's 50 day simple moving average is $120.46 and its 200 day simple moving average is $118.34. The stock has a market cap of $78.43 billion, a price-to-earnings ratio of 33.36, a PEG ratio of 2.63 and a beta of 1.29. Emerson Electric Co. has a twelve month low of $90.06 and a twelve month high of $139.59. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.59 and a current ratio of 0.80.

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 the consensus estimate 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 net margin of 13.60% and a return on equity of 13.22%. The business's revenue was up 1.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.36 EPS. On average, equities research analysts forecast that Emerson Electric Co. will post 5.96 earnings per share 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 paid a dividend of $0.5275 per share. The ex-dividend date of this dividend was Friday, May 16th. This represents a $2.11 dividend on an annualized basis and a dividend yield of 1.51%. Emerson Electric's payout ratio is presently 50.48%.

Insiders Place Their Bets

In other news, CEO Surendralal Lanca Karsanbhai sold 16,698 shares of the business's stock in a transaction dated 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 sale, the chief executive officer directly owned 164,957 shares in the company, valued at approximately $18,694,576.81. The trade was a 9.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.50% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms have recently commented on EMR. Robert W. Baird reduced their price objective 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. Wall Street Zen upgraded Emerson Electric from a "hold" rating to a "buy" rating in a research note on Friday, May 9th. KeyCorp boosted their target price on Emerson Electric from $150.00 to $155.00 and gave the stock an "overweight" rating in a report on Tuesday. Wells Fargo & Company boosted their price objective on Emerson Electric from $135.00 to $150.00 and gave the stock an "overweight" rating in a report on Tuesday. Finally, Bank of America increased their price target on Emerson Electric from $130.00 to $155.00 and gave the stock a "buy" rating in a report on Wednesday. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $138.61.

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.