Emerson Electric Co. (NYSE:EMR) Shares Sold by TCTC Holdings LLC

Key Points

• TCTC Holdings LLC reduced its stake in Emerson Electric Co. by 1.8%, holding 108,256 shares worth approximately $11.87 million as of the end of the most recent quarter.
• Emerson Electric's stock has seen a boost from various analysts, with price target increases from firms such as KeyCorp and Citigroup, suggesting a positive outlook despite differing ratings.
• The company recently declared a quarterly dividend of $0.5275 per share, resulting in an annualized dividend of $2.11 and a yield of 1.41%.

TCTC Holdings LLC decreased its position in shares of Emerson Electric Co. (NYSE:EMR - Free Report) by 1.8% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 108,256 shares of the industrial products company's stock after selling 1,997 shares during the quarter. TCTC Holdings LLC's holdings in Emerson Electric were worth $11,869,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Orion Capital Management LLC acquired a new position in shares of Emerson Electric in the 4th quarter valued at $25,000. Vega Investment Solutions acquired a new position in shares of Emerson Electric in the 4th quarter valued at $27,000. Ameriflex Group Inc. acquired a new position in shares of Emerson Electric in the 4th quarter valued at $30,000. MJT & Associates Financial Advisory Group Inc. acquired a new position in shares of Emerson Electric in the 1st quarter valued at $27,000. Finally, Inlight Wealth Management LLC acquired a new position in shares of Emerson Electric in the 1st quarter valued at $28,000. Institutional investors and hedge funds own 74.30% of the company's stock.

Emerson Electric Trading Down 1.2%

EMR traded down $1.86 during mid-day trading on Tuesday, hitting $147.62. 3,428,132 shares of the stock were exchanged, compared to its average volume of 2,540,155. The firm's fifty day moving average is $132.01 and its two-hundred day moving average is $120.79. Emerson Electric Co. has a 1-year low of $90.06 and a 1-year high of $150.27. 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 company has a market cap of $83.04 billion, a PE ratio of 35.32, a PEG ratio of 2.90 and a beta of 1.29.

Emerson Electric (NYSE:EMR - Get Free Report) last posted its quarterly 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%. Emerson Electric's revenue for the quarter was up 1.3% compared to the same quarter last year. During the same quarter last year, the company earned $1.36 EPS. Equities analysts forecast that Emerson Electric Co. will post 5.96 earnings per share for the current fiscal year.

Emerson Electric Announces Dividend

The firm also recently announced 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 annualized dividend and a dividend yield of 1.43%. The ex-dividend date of this dividend was Friday, May 16th. Emerson Electric's dividend payout ratio (DPR) is presently 50.48%.

Insider Buying and Selling at Emerson Electric

In other news, CEO Surendralal Lanca Karsanbhai sold 16,698 shares of the firm's 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 owned 164,957 shares of the company's stock, valued at approximately $18,694,576.81. This trade represents a 9.19% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.50% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on EMR. KeyCorp upped their target price on Emerson Electric from $150.00 to $155.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 1st. Wall Street Zen raised Emerson Electric from a "hold" rating to a "buy" rating in a research note on Friday, May 9th. Royal Bank Of Canada upped their target price on Emerson Electric from $123.00 to $124.00 and gave the stock an "outperform" rating in a research note on Thursday, May 8th. Citigroup upped their target price on Emerson Electric from $146.00 to $165.00 and gave the stock a "buy" rating in a research note on Monday, July 14th. Finally, Stephens boosted their price target on Emerson Electric from $130.00 to $145.00 and gave the stock an "equal weight" rating in a research report on Wednesday, July 16th. Two analysts have rated the stock with a sell rating, four have issued a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Emerson Electric has an average rating of "Moderate Buy" and a consensus target price of $142.28.

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.