MainStreet Investment Advisors LLC Sells 2,157 Shares of Emerson Electric Co. (NYSE:EMR)

MainStreet Investment Advisors LLC lessened its holdings in shares of Emerson Electric Co. (NYSE:EMR - Free Report) by 3.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm 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 investment portfolio, making the stock its 29th biggest position. MainStreet Investment Advisors LLC's holdings in Emerson Electric were worth $6,370,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of EMR. Orion Capital Management LLC bought a new position in Emerson Electric in the fourth quarter worth approximately $25,000. Vega Investment Solutions acquired a new position in shares of Emerson Electric during the fourth quarter worth $27,000. Murphy & Mullick Capital Management Corp acquired a new position in shares of Emerson Electric during the fourth quarter worth $28,000. Inlight Wealth Management LLC acquired a new position in shares of Emerson Electric during the first quarter worth $28,000. Finally, Fourth Dimension Wealth LLC increased its position in shares of Emerson Electric by 145.3% during the first quarter. Fourth Dimension Wealth LLC now owns 260 shares of the industrial products company's stock worth $29,000 after purchasing an additional 154 shares in the last quarter. Hedge funds and other institutional investors own 74.30% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. KeyCorp increased their price target on Emerson Electric from $150.00 to $155.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 1st. Wells Fargo & Company lifted their price target on Emerson Electric from $135.00 to $150.00 and gave the company an "overweight" rating in a research note on Tuesday, July 1st. JPMorgan Chase & Co. lifted their price target on Emerson Electric from $113.00 to $133.00 and gave the company a "neutral" rating in a research note on Friday, May 16th. 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, Barclays lifted their price target on Emerson Electric from $118.00 to $125.00 and gave the company an "underweight" rating in a research note on Wednesday. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $139.83.

Emerson Electric Trading Up 0.8%

EMR opened at $139.82 on Thursday. Emerson Electric Co. has a one year low of $90.06 and a one year high of $140.00. The stock has a market capitalization of $78.65 billion, a PE ratio of 33.45, a P/E/G ratio of 2.69 and a beta of 1.29. The business's 50 day moving average price is $123.79 and its 200 day moving average price is $118.78. 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 announced its earnings results on Wednesday, May 7th. The industrial products company reported $1.48 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.41 by $0.07. The company had revenue of $4.43 billion for 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 firm's quarterly revenue was up 1.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.36 earnings per share. As a group, equities research analysts expect that Emerson Electric Co. will post 5.96 EPS for the current year.

Emerson Electric Announces Dividend

The business also recently disclosed 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. This represents a $2.11 dividend on an annualized basis and a dividend yield of 1.51%. The ex-dividend date of this dividend was Friday, May 16th. Emerson Electric's dividend payout ratio is currently 50.48%.

Insider Buying and Selling at Emerson Electric

In other news, CEO Surendralal Lanca Karsanbhai sold 16,698 shares of the company's stock in a transaction on 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 owned 164,957 shares of the company's stock, valued at approximately $18,694,576.81. This represents a 9.19% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.50% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.