Kingsview Wealth Management LLC Has $2.95 Million Stock Position in Emerson Electric Co. (NYSE:EMR)

Kingsview Wealth Management LLC lessened its position in shares of Emerson Electric Co. (NYSE:EMR - Free Report) by 90.8% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 26,860 shares of the industrial products company's stock after selling 266,429 shares during the quarter. Kingsview Wealth Management LLC's holdings in Emerson Electric were worth $2,945,000 at the end of the most recent reporting period.

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

Analyst Ratings Changes

A number of analysts recently weighed in on EMR shares. KeyCorp increased their price target on shares of Emerson Electric from $150.00 to $155.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 1st. Bank of America upped their price objective on Emerson Electric from $130.00 to $155.00 and gave the company a "buy" rating in a research note on Wednesday, July 2nd. Stephens lifted their target price on Emerson Electric from $130.00 to $145.00 and gave the company an "equal weight" rating in a research note on Wednesday. Robert W. Baird cut their price target on Emerson Electric from $140.00 to $130.00 and set a "neutral" rating for the company in a research note on Thursday, May 8th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Emerson Electric from $113.00 to $133.00 and gave the company a "neutral" rating in a research report on Friday, May 16th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $142.28.

Insider Buying and Selling at Emerson Electric

In related news, CEO Surendralal Lanca Karsanbhai sold 16,698 shares of the business's stock in a transaction that occurred on Thursday, May 8th. The stock was sold at an average price of $113.33, for a total value of $1,892,384.34. Following the completion of the transaction, 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.50% of the stock is owned by corporate insiders.

Emerson Electric Stock Performance

Emerson Electric stock traded down $0.23 during mid-day trading on Friday, reaching $144.16. The company had a trading volume of 1,918,369 shares, compared to its average volume of 2,997,613. The company has a 50 day moving average of $128.27 and a 200-day moving average of $119.56. Emerson Electric Co. has a 52 week low of $90.06 and a 52 week high of $145.28. The company has a quick ratio of 0.59, a current ratio of 0.80 and a debt-to-equity ratio of 0.42. The firm has a market cap of $81.09 billion, a price-to-earnings ratio of 34.49, a PEG ratio of 2.80 and a beta of 1.29.

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 (EPS) for the quarter, beating 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 firm had revenue of $4.43 billion during the quarter, compared to the consensus estimate of $4.42 billion. During the same quarter in the previous year, the company posted $1.36 EPS. The business's revenue for the quarter was up 1.3% compared to the same quarter last year. On average, sell-side analysts expect that Emerson Electric Co. will post 5.96 EPS for the current fiscal year.

Emerson Electric Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Friday, May 16th were given a dividend of $0.5275 per share. The ex-dividend date was Friday, May 16th. This represents a $2.11 annualized dividend and a dividend yield of 1.46%. Emerson Electric's payout ratio is currently 50.48%.

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.