Mitchell Sinkler & Starr PA Has $8.66 Million Stake in Emerson Electric Co. (NYSE:EMR)

Key Points

• Mitchell Sinkler & Starr PA has reduced its stake in Emerson Electric Co. (NYSE: EMR) by 5.8%, now holding approximately $8.66 million worth of shares.
• Emerson Electric reported $1.48 earnings per share for the last quarter, surpassing analysts’ expectations by $0.07, with a year-over-year revenue increase of 1.3%.
• The company recently announced a quarterly dividend of $0.5275 per share, resulting in an annualized yield of 1.41%, with a payout ratio of 50.48%.

Mitchell Sinkler & Starr PA lessened its position in shares of Emerson Electric Co. (NYSE:EMR - Free Report) by 5.8% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 79,013 shares of the industrial products company's stock after selling 4,856 shares during the quarter. Emerson Electric makes up about 2.4% of Mitchell Sinkler & Starr PA's holdings, making the stock its 11th largest position. Mitchell Sinkler & Starr PA's holdings in Emerson Electric were worth $8,663,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Peak Asset Management LLC grew its stake in Emerson Electric by 0.8% in the 1st quarter. Peak Asset Management LLC now owns 115,722 shares of the industrial products company's stock worth $12,688,000 after acquiring an additional 944 shares during the period. Providence Wealth Advisors LLC increased its stake in shares of Emerson Electric by 23.2% during the 1st quarter. Providence Wealth Advisors LLC now owns 11,343 shares of the industrial products company's stock valued at $1,237,000 after acquiring an additional 2,136 shares during the last quarter. Accretive Wealth Partners LLC purchased a new stake in Emerson Electric in the first quarter valued at approximately $220,000. Empirical Finance LLC boosted its holdings in shares of Emerson Electric by 1.8% in the 1st quarter. Empirical Finance LLC now owns 19,995 shares of the industrial products company's stock valued at $2,192,000 after purchasing an additional 345 shares during the last quarter. Finally, GLOBALT Investments LLC GA increased its holdings in shares of Emerson Electric by 2.2% during the 1st quarter. GLOBALT Investments LLC GA now owns 70,495 shares of the industrial products company's stock worth $7,729,000 after buying an additional 1,499 shares during the last quarter. Hedge funds and other institutional investors own 74.30% of the company's stock.

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 shares were sold at an average price of $113.33, for a total value of $1,892,384.34. Following the transaction, the chief executive officer directly 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 SEC, which can be accessed through this link. 0.50% of the stock is owned by corporate insiders.

Emerson Electric Stock Performance

Shares of Emerson Electric stock traded down $0.09 on Thursday, reaching $145.97. 1,435,949 shares of the company were exchanged, compared to its average volume of 3,055,571. 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 has a market cap of $82.11 billion, a price-to-earnings ratio of 34.92, a P/E/G ratio of 2.86 and a beta of 1.29. Emerson Electric Co. has a 1-year low of $90.06 and a 1-year high of $150.27. The company's 50-day moving average is $132.61 and its two-hundred day moving average is $120.96.

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 for the quarter, beating analysts' consensus estimates of $1.41 by $0.07. Emerson Electric had a net margin of 13.60% and a return on equity of 13.22%. The business had revenue of $4.43 billion for the quarter, compared to analysts' expectations of $4.42 billion. During the same period in the previous year, the business earned $1.36 earnings per share. The company's revenue was up 1.3% on a year-over-year basis. As a group, research analysts expect that Emerson Electric Co. will post 5.96 earnings per share for the current fiscal year.

Emerson Electric Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Friday, May 16th were given a dividend of $0.5275 per share. This represents a $2.11 annualized dividend and a yield of 1.45%. The ex-dividend date of this dividend was Friday, May 16th. Emerson Electric's payout ratio is 50.48%.

Analyst Upgrades and Downgrades

Several research analysts recently commented on EMR shares. Stephens raised their price target on shares of Emerson Electric from $130.00 to $145.00 and gave the company an "equal weight" rating in a report on Wednesday, July 16th. Bank of America increased their price target on Emerson Electric from $130.00 to $155.00 and gave the company a "buy" rating in a report on Wednesday, July 2nd. Royal Bank Of Canada boosted their price objective on Emerson Electric from $123.00 to $124.00 and gave the stock an "outperform" rating in a research note on Thursday, May 8th. Wall Street Zen upgraded Emerson Electric from a "hold" rating to a "buy" rating in a research note on Friday, May 9th. Finally, TD Cowen raised Emerson Electric to a "strong-buy" rating in a research report on Tuesday, July 8th. Two analysts have rated the stock with a sell rating, four have issued a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price 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.