Pettee Investors Inc. Has $1.04 Million Stake in Emerson Electric Co. (NYSE:EMR)

Pettee Investors Inc. reduced its stake in shares of Emerson Electric Co. (NYSE:EMR - Free Report) by 21.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,458 shares of the industrial products company's stock after selling 2,650 shares during the period. Pettee Investors Inc.'s holdings in Emerson Electric were worth $1,037,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Graypoint LLC lifted its holdings in Emerson Electric by 79.5% in the 1st quarter. Graypoint LLC now owns 4,960 shares of the industrial products company's stock worth $544,000 after buying an additional 2,197 shares in the last quarter. Dynasty Wealth Management LLC grew its position in Emerson Electric by 2.9% in the 1st quarter. Dynasty Wealth Management LLC now owns 9,231 shares of the industrial products company's stock worth $1,012,000 after purchasing an additional 257 shares during the last quarter. Trust Investment Advisors bought a new position in shares of Emerson Electric in the first quarter valued at approximately $202,000. Guardian Wealth Advisors LLC boosted its holdings in shares of Emerson Electric by 4.4% in the first quarter. Guardian Wealth Advisors LLC now owns 4,476 shares of the industrial products company's stock valued at $491,000 after acquiring an additional 187 shares in the last quarter. Finally, BIP Wealth LLC boosted its holdings in Emerson Electric by 6.6% during the first quarter. BIP Wealth LLC now owns 1,861 shares of the industrial products company's stock worth $204,000 after buying an additional 116 shares in the last quarter. 74.30% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts recently commented on EMR shares. TD Cowen upgraded shares of Emerson Electric to a "strong-buy" rating in a report on Tuesday, July 8th. Wall Street Zen upgraded shares of Emerson Electric from a "hold" rating to a "buy" rating in a research report on Friday, May 9th. KeyCorp boosted their price target on shares of Emerson Electric from $150.00 to $155.00 and gave the company an "overweight" rating in a research report on Tuesday, July 1st. Citigroup boosted their target price on shares of Emerson Electric from $146.00 to $165.00 and gave the stock a "buy" rating in a research note on Monday. Finally, Wells Fargo & Company upped their target price on shares of Emerson Electric from $135.00 to $150.00 and gave the company an "overweight" rating in a research note on Tuesday, July 1st. 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 given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $142.28.

Insider Activity

In other news, CEO Surendralal Lanca Karsanbhai sold 16,698 shares of Emerson Electric stock in a transaction dated 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 directly owned 164,957 shares of the company's stock, valued at approximately $18,694,576.81. The trade was a 9.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.50% of the stock is owned by company insiders.

Emerson Electric Stock Performance

EMR stock traded down $0.23 during trading on Friday, hitting $144.16. 1,918,369 shares of the company traded hands, compared to its average volume of 3,001,462. The company has a market cap of $81.09 billion, a PE ratio of 34.49, a P/E/G ratio of 2.72 and a beta of 1.29. Emerson Electric Co. has a 1 year low of $90.06 and a 1 year high of $145.23. The stock's 50-day simple moving average is $127.64 and its 200 day simple moving average is $119.42. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.80 and a quick ratio of 0.59.

Emerson Electric (NYSE:EMR - Get Free Report) last posted 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. The firm had revenue of $4.43 billion for the quarter, compared to the consensus estimate of $4.42 billion. Emerson Electric had a return on equity of 13.22% and a net margin of 13.60%. The company's quarterly revenue was up 1.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.36 EPS. On average, equities 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 disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Friday, May 16th were issued a dividend of $0.5275 per share. This represents a $2.11 annualized dividend and a dividend yield of 1.46%. The ex-dividend date was Friday, May 16th. Emerson Electric's dividend payout ratio (DPR) is 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.