Kornitzer Capital Management Inc. KS Sells 3,035 Shares of Emerson Electric Co. (NYSE:EMR)

Kornitzer Capital Management Inc. KS reduced its stake in shares of Emerson Electric Co. (NYSE:EMR - Free Report) by 2.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 144,252 shares of the industrial products company's stock after selling 3,035 shares during the quarter. Kornitzer Capital Management Inc. KS's holdings in Emerson Electric were worth $15,816,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of EMR. Norges Bank bought a new position in shares of Emerson Electric during the 4th quarter worth about $885,886,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its position in Emerson Electric by 3,866.2% in 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 worth $374,581,000 after purchasing an additional 2,946,310 shares in the last quarter. Boston Partners lifted its stake in Emerson Electric by 136.3% during the fourth quarter. Boston Partners now owns 3,316,466 shares of the industrial products company's stock worth $411,944,000 after purchasing an additional 1,913,120 shares during the period. Massachusetts Financial Services Co. MA grew its stake in shares of Emerson Electric by 210.8% in 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 during the period. Finally, GAMMA Investing LLC raised its holdings in shares of Emerson Electric by 12,707.7% in the 1st quarter. GAMMA Investing LLC now owns 1,126,441 shares of the industrial products company's stock worth $123,503,000 after buying an additional 1,117,646 shares in the last quarter. 74.30% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, CEO Surendralal Lanca Karsanbhai sold 16,698 shares of the stock in a transaction 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 transaction, the chief executive officer owned 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 document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.50% of the company's stock.

Emerson Electric Trading Up 2.9%

EMR traded up $4.12 during mid-day trading on Thursday, reaching $144.42. The stock had a trading volume of 3,394,350 shares, compared to its average volume of 3,008,766. The stock has a market capitalization of $81.24 billion, a P/E ratio of 34.55, a P/E/G ratio of 2.71 and a beta of 1.29. Emerson Electric Co. has a 52 week low of $90.06 and a 52 week high of $144.83. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.59 and a current ratio of 0.80. The firm's fifty day simple moving average is $127.00 and its two-hundred day simple moving average is $119.28.

Emerson Electric (NYSE:EMR - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The industrial products company reported $1.48 EPS for the quarter, topping analysts' consensus estimates of $1.41 by $0.07. The firm had revenue of $4.43 billion during the quarter, compared to analyst estimates of $4.42 billion. Emerson Electric had a return on equity of 13.22% and a net margin of 13.60%. The company's revenue was up 1.3% on a year-over-year basis. During the same period last year, the company earned $1.36 earnings per share. On average, equities analysts predict that Emerson Electric Co. will post 5.96 EPS for the current year.

Emerson Electric Dividend Announcement

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

Analysts Set New Price Targets

EMR has been the topic of a number of analyst reports. Stephens upped their price target on Emerson Electric from $130.00 to $145.00 and gave the company an "equal weight" rating in a research report on Wednesday. TD Cowen upgraded shares of Emerson Electric to a "strong-buy" rating in a research note on Tuesday, July 8th. Barclays increased their target price on shares of Emerson Electric from $118.00 to $125.00 and gave the stock an "underweight" rating in a research report on Wednesday, July 9th. Citigroup boosted their price target on shares of Emerson Electric from $146.00 to $165.00 and gave the company a "buy" rating in a research report on Monday. Finally, Bank of America raised their price objective on shares of Emerson Electric from $130.00 to $155.00 and gave the stock a "buy" rating in a report on Wednesday, July 2nd. Two 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's stock. Based on data from MarketBeat, Emerson Electric presently has an average rating of "Moderate Buy" and a consensus price target of $142.28.

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.