Kimelman & Baird LLC Sells 39,050 Shares of Emerson Electric Co. $EMR

Key Points

• Kimelman & Baird LLC has reduced its stake in Emerson Electric Co. by 36.3%, now holding 68,535 shares valued at approximately $7.5 million.
• Emerson Electric reported a quarterly earnings per share (EPS) of $1.52, slightly surpassing analyst estimates, with a revenue of $4.55 billion.
• The company has recently announced a quarterly dividend of $0.5275, translating to an annualized dividend yield of 1.6%.

Kimelman & Baird LLC lowered its position in shares of Emerson Electric Co. (NYSE:EMR - Free Report) by 36.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 68,535 shares of the industrial products company's stock after selling 39,050 shares during the period. Kimelman & Baird LLC's holdings in Emerson Electric were worth $7,514,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in EMR. Nuveen LLC bought a new stake in shares of Emerson Electric during the first quarter valued at approximately $737,318,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its position in shares of Emerson Electric by 3,866.2% during the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 3,022,517 shares of the industrial products company's stock valued at $374,581,000 after acquiring an additional 2,946,310 shares in the last quarter. Pacer Advisors Inc. increased its position in shares of Emerson Electric by 4,583.7% during the first quarter. Pacer Advisors Inc. now owns 2,185,049 shares of the industrial products company's stock valued at $239,569,000 after acquiring an additional 2,138,397 shares in the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of Emerson Electric by 210.8% during the first 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 acquiring an additional 1,333,839 shares in the last quarter. Finally, GAMMA Investing LLC increased its position in shares of Emerson Electric by 12,707.7% during the first quarter. GAMMA Investing LLC now owns 1,126,441 shares of the industrial products company's stock valued at $123,503,000 after acquiring an additional 1,117,646 shares in the last quarter. Institutional investors own 74.30% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Citigroup raised their target price on shares of Emerson Electric from $146.00 to $165.00 and gave the stock a "buy" rating in a report on Monday, July 14th. TD Cowen upgraded shares of Emerson Electric to a "strong-buy" rating in a report on Tuesday, July 8th. Stephens raised their target price on shares of Emerson Electric from $130.00 to $145.00 and gave the stock an "equal weight" rating in a report on Wednesday, July 16th. KeyCorp raised their target price on shares of Emerson Electric from $150.00 to $155.00 and gave the stock an "overweight" rating in a report on Tuesday, July 1st. Finally, Barclays upgraded shares of Emerson Electric from an "underweight" rating to an "equal weight" rating and raised their target price for the stock from $125.00 to $127.00 in a report on Thursday, August 7th. Two analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $142.39.

Emerson Electric Stock Performance

Shares of Emerson Electric stock traded up $0.02 on Wednesday, hitting $131.61. 393,620 shares of the company's stock were exchanged, compared to its average volume of 3,153,364. The company has a 50-day simple moving average of $136.74 and a 200-day simple moving average of $121.79. The stock has a market capitalization of $74.07 billion, a PE ratio of 28.30, a PEG ratio of 2.57 and a beta of 1.32. Emerson Electric Co. has a 1 year low of $90.06 and a 1 year high of $150.27. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.63 and a current ratio of 0.85.

Emerson Electric (NYSE:EMR - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The industrial products company reported $1.52 EPS for the quarter, beating the consensus estimate of $1.51 by $0.01. The firm had revenue of $4.55 billion for the quarter, compared to the consensus estimate of $4.60 billion. Emerson Electric had a net margin of 14.92% and a return on equity of 14.34%. The company's revenue was up 3.9% on a year-over-year basis. During the same period last year, the firm earned $1.43 EPS. As a group, equities analysts anticipate that Emerson Electric Co. will post 5.96 EPS for the current year.

Emerson Electric Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Friday, August 15th will be given a dividend of $0.5275 per share. This represents a $2.11 annualized dividend and a dividend yield of 1.6%. The ex-dividend date is Friday, August 15th. Emerson Electric's dividend payout ratio (DPR) is presently 45.38%.

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.