Sit Investment Associates Inc. Sells 16,987 Shares of Emerson Electric Co. $EMR

Key Points

• Sit Investment Associates Inc. reduced its stake in Emerson Electric Co. by 17.5%, selling 16,987 shares and holding a total of 80,312 shares valued at approximately $8.8 million.
• Research firms have issued varying ratings on Emerson Electric, with a consensus rating of "Moderate Buy" and an average price target of $142.39.
• Emerson Electric announced a quarterly dividend of $0.5275 per share, reflecting a 1.6% dividend yield and a payout ratio of 45.38%.

Sit Investment Associates Inc. lessened its holdings in shares of Emerson Electric Co. (NYSE:EMR - Free Report) by 17.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 80,312 shares of the industrial products company's stock after selling 16,987 shares during the quarter. Sit Investment Associates Inc.'s holdings in Emerson Electric were worth $8,805,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in EMR. Orion Capital Management LLC bought a new stake in Emerson Electric during the 4th quarter valued at approximately $25,000. Vega Investment Solutions bought a new stake in Emerson Electric during the 4th quarter valued at approximately $27,000. MJT & Associates Financial Advisory Group Inc. bought a new stake in Emerson Electric during the 1st quarter valued at approximately $27,000. Inlight Wealth Management LLC bought a new stake in Emerson Electric during the 1st quarter valued at approximately $28,000. Finally, Fourth Dimension Wealth LLC raised its stake in Emerson Electric by 145.3% during the 1st quarter. Fourth Dimension Wealth LLC now owns 260 shares of the industrial products company's stock valued at $29,000 after purchasing an additional 154 shares during the period. Institutional investors own 74.30% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. KeyCorp raised their price target on Emerson Electric from $150.00 to $155.00 and gave the company an "overweight" rating in a report on Tuesday, July 1st. TD Cowen upgraded Emerson Electric to a "strong-buy" rating in a report on Tuesday, July 8th. Royal Bank Of Canada raised their price target on Emerson Electric from $123.00 to $124.00 and gave the company an "outperform" rating in a report on Thursday, May 8th. Citigroup raised their price target on Emerson Electric from $146.00 to $165.00 and gave the company a "buy" rating in a report on Monday, July 14th. Finally, 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 report on Thursday, May 8th. Two analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $142.39.

Emerson Electric Trading Down 0.6%

Shares of Emerson Electric stock traded down $0.7950 on Wednesday, reaching $130.7950. The company had a trading volume of 2,062,203 shares, compared to its average volume of 3,883,807. The firm has a market cap of $73.61 billion, a price-to-earnings ratio of 28.13, a P/E/G ratio of 2.57 and a beta of 1.32. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.85 and a quick ratio of 0.63. The firm's 50-day moving average price is $136.83 and its two-hundred day moving average price is $121.85. Emerson Electric Co. has a 1 year low of $90.06 and a 1 year high of $150.27.

Emerson Electric (NYSE:EMR - Get Free Report) last announced its earnings results on Wednesday, August 6th. The industrial products company reported $1.52 EPS for the quarter, topping analysts' consensus estimates of $1.51 by $0.01. The firm had revenue of $4.55 billion during the quarter, compared to analysts' expectations of $4.60 billion. Emerson Electric had a return on equity of 14.34% and a net margin of 14.92%.The company's quarterly revenue was up 3.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.43 EPS. As a group, research analysts predict that Emerson Electric Co. will post 5.96 earnings per share for the current fiscal year.

Emerson Electric Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Friday, August 15th will be issued a $0.5275 dividend. The ex-dividend date is Friday, August 15th. This represents a $2.11 dividend on an annualized basis and a dividend yield of 1.6%. Emerson Electric's payout ratio is 45.38%.

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.