MainStreet Investment Advisors LLC Cuts Holdings in Emerson Electric Co. (NYSE:EMR)

MainStreet Investment Advisors LLC reduced its position in Emerson Electric Co. (NYSE:EMR - Free Report) by 3.6% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 58,101 shares of the industrial products company's stock after selling 2,157 shares during the period. Emerson Electric comprises approximately 0.9% of MainStreet Investment Advisors LLC's holdings, making the stock its 29th largest position. MainStreet Investment Advisors LLC's holdings in Emerson Electric were worth $6,370,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of Emerson Electric in the 4th quarter worth $885,886,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its stake in shares of Emerson Electric by 3,866.2% in the 4th 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 increased its stake in shares of Emerson Electric by 136.3% in the 4th 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 in the last quarter. GAMMA Investing LLC boosted its holdings in 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 during the period. Finally, Lazard Asset Management LLC boosted its holdings in Emerson Electric by 230,061.8% in the 4th quarter. Lazard Asset Management LLC now owns 819,376 shares of the industrial products company's stock worth $101,545,000 after buying an additional 819,020 shares during the period. 74.30% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages recently weighed in on EMR. Royal Bank Of Canada upped their target price on shares of Emerson Electric from $123.00 to $124.00 and gave the stock an "outperform" rating in a report on Thursday, May 8th. Wells Fargo & Company upped their target price on shares of Emerson Electric from $135.00 to $150.00 and gave the stock an "overweight" rating in a report on Tuesday, July 1st. KeyCorp increased their price objective on shares of Emerson Electric from $150.00 to $155.00 and gave the company an "overweight" rating in a report on Tuesday, July 1st. Robert W. Baird dropped 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. Finally, Barclays increased their price objective on shares of Emerson Electric from $118.00 to $125.00 and gave the company an "underweight" rating in a report on Wednesday. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, Emerson Electric currently has an average rating of "Moderate Buy" and an average price target of $139.83.

Insiders Place Their Bets

In related news, CEO Surendralal Lanca Karsanbhai sold 16,698 shares of the firm's 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 completion of the transaction, the chief executive officer owned 164,957 shares in the company, valued at $18,694,576.81. This trade represents a 9.19% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.50% of the stock is currently owned by company insiders.

Emerson Electric Stock Down 0.1%

NYSE EMR traded down $0.17 during midday trading on Friday, hitting $140.50. 1,027,100 shares of the company traded hands, compared to its average volume of 3,000,013. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.80 and a quick ratio of 0.59. The company has a market cap of $79.03 billion, a PE ratio of 33.60, a price-to-earnings-growth ratio of 2.71 and a beta of 1.29. The company's 50-day simple moving average is $124.48 and its 200-day simple moving average is $118.90. Emerson Electric Co. has a 52 week low of $90.06 and a 52 week high of $142.32.

Emerson Electric (NYSE:EMR - Get Free Report) last posted its earnings results 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 company had revenue of $4.43 billion for the quarter, compared to analyst estimates of $4.42 billion. During the same quarter in the previous year, the firm earned $1.36 earnings per share. The firm's quarterly revenue was up 1.3% compared to the same quarter last year. As a group, equities research analysts forecast that Emerson Electric Co. will post 5.96 earnings per share for the current year.

Emerson Electric Announces Dividend

The company also recently announced 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 annualized dividend and a yield of 1.50%. Emerson Electric's dividend payout ratio (DPR) is 50.48%.

Emerson Electric 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.