Summit Asset Management LLC Boosts Stock Holdings in Emerson Electric Co. (NYSE:EMR)

Summit Asset Management LLC boosted its stake in Emerson Electric Co. (NYSE:EMR - Free Report) by 23.5% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 15,751 shares of the industrial products company's stock after purchasing an additional 3,000 shares during the period. Summit Asset Management LLC's holdings in Emerson Electric were worth $1,727,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Orion Capital Management LLC bought a new position in shares of Emerson Electric during the 4th quarter worth approximately $25,000. Vega Investment Solutions bought a new position in Emerson Electric in the 4th quarter valued at $27,000. Murphy & Mullick Capital Management Corp bought a new stake in shares of Emerson Electric during the 4th quarter worth $28,000. Inlight Wealth Management LLC bought a new stake in shares of Emerson Electric during the 1st quarter worth $28,000. Finally, Fourth Dimension Wealth LLC raised its position in Emerson Electric by 145.3% in the 1st 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 during the period. 74.30% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. 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 research note on Thursday, May 8th. Barclays upped their target price on shares of Emerson Electric from $118.00 to $125.00 and gave the company an "underweight" rating in a report on Wednesday, July 9th. Wells Fargo & Company increased their price objective on shares of Emerson Electric from $135.00 to $150.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 1st. Citigroup increased their price objective on shares of Emerson Electric from $146.00 to $165.00 and gave the stock a "buy" rating in a research note on Monday, July 14th. Finally, KeyCorp increased their price objective on shares of Emerson Electric from $150.00 to $155.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 1st. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, Emerson Electric has an average rating of "Moderate Buy" and a consensus price target of $142.28.

Emerson Electric Stock Performance

NYSE EMR traded up $1.59 on Tuesday, hitting $144.50. 2,684,463 shares of the company's stock traded hands, compared to its average volume of 2,994,607. The company has a current ratio of 0.80, a quick ratio of 0.59 and a debt-to-equity ratio of 0.42. The firm's 50-day moving average price is $128.27 and its two-hundred day moving average price is $119.51. Emerson Electric Co. has a 1-year low of $90.06 and a 1-year high of $145.38. The firm has a market capitalization of $81.28 billion, a PE ratio of 34.57, a P/E/G ratio of 2.77 and a beta of 1.29.

Emerson Electric (NYSE:EMR - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The industrial products company reported $1.48 EPS for the quarter, topping the consensus estimate of $1.41 by $0.07. Emerson Electric had a net margin of 13.60% and a return on equity of 13.22%. The company had revenue of $4.43 billion during the quarter, compared to analyst estimates of $4.42 billion. During the same quarter in the previous year, the firm earned $1.36 EPS. The firm's revenue was up 1.3% compared to the same quarter last year. As a group, analysts expect that Emerson Electric Co. will post 5.96 EPS for the current year.

Emerson Electric Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Friday, May 16th were given a dividend of $0.5275 per share. The ex-dividend date was Friday, May 16th. This represents a $2.11 dividend on an annualized basis and a yield of 1.46%. Emerson Electric's payout ratio is presently 50.48%.

Insider Buying and Selling at Emerson Electric

In related news, CEO Surendralal Lanca Karsanbhai sold 16,698 shares of the business'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 sale, the chief executive officer owned 164,957 shares of the company's stock, valued at $18,694,576.81. The trade was a 9.19% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 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.