Whitaker Myers Wealth Managers LTD. Takes $419,000 Position in Emerson Electric Co. (NYSE:EMR)

Whitaker Myers Wealth Managers LTD. purchased a new position in shares of Emerson Electric Co. (NYSE:EMR - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 3,823 shares of the industrial products company's stock, valued at approximately $419,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. raised its position in Emerson Electric by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 53,536,974 shares of the industrial products company's stock worth $6,634,837,000 after acquiring an additional 384,313 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Emerson Electric by 2.0% during the 4th quarter. Geode Capital Management LLC now owns 11,685,615 shares of the industrial products company's stock worth $1,443,725,000 after purchasing an additional 232,540 shares during the period. Norges Bank purchased a new position in shares of Emerson Electric in the 4th quarter valued at about $885,886,000. Northern Trust Corp lifted its stake in shares of Emerson Electric by 5.9% in the fourth quarter. Northern Trust Corp now owns 6,676,168 shares of the industrial products company's stock valued at $827,377,000 after purchasing an additional 370,560 shares during the period. Finally, Schroder Investment Management Group boosted its holdings in Emerson Electric by 4.1% during the fourth quarter. Schroder Investment Management Group now owns 4,376,492 shares of the industrial products company's stock worth $542,379,000 after buying an additional 171,946 shares in the last quarter. 74.30% of the stock is owned by hedge funds and other institutional investors.

Emerson Electric Trading Up 1.0%

NYSE EMR opened at $123.68 on Friday. The stock has a market cap of $69.57 billion, a P/E ratio of 29.52, a PEG ratio of 2.49 and a beta of 1.28. The company's fifty day simple moving average is $109.70 and its 200-day simple moving average is $118.50. The company has a current ratio of 1.54, a quick ratio of 1.17 and a debt-to-equity ratio of 0.25. Emerson Electric Co. has a 52 week low of $90.06 and a 52 week high of $134.85.

Emerson Electric (NYSE:EMR - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The industrial products company reported $1.48 EPS for the quarter, topping analysts' consensus estimates of $1.41 by $0.07. The firm had revenue of $4.43 billion for the quarter, compared to analyst estimates of $4.42 billion. Emerson Electric had a net margin of 13.74% and a return on equity of 12.08%. The firm's revenue was up 1.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.36 EPS. Equities research analysts predict that Emerson Electric Co. will post 5.96 EPS for the current fiscal year.

Emerson Electric Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Friday, May 16th will be given a $0.5275 dividend. This represents a $2.11 dividend on an annualized basis and a dividend yield of 1.71%. The ex-dividend date is Friday, May 16th. Emerson Electric's payout ratio is 50.48%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. KeyCorp dropped their price target on Emerson Electric from $158.00 to $125.00 and set an "overweight" rating for the company in a research report on Tuesday, April 8th. Barclays raised their target price on shares of Emerson Electric from $104.00 to $112.00 and gave the company an "underweight" rating in a report on Friday, May 30th. Wall Street Zen raised shares of Emerson Electric from a "hold" rating to a "buy" rating in a report on Friday, May 9th. Citigroup increased their price target on shares of Emerson Electric from $133.00 to $146.00 and gave the company a "buy" rating in a research report on Wednesday. Finally, Royal Bank of Canada lifted their price objective on Emerson Electric from $123.00 to $124.00 and gave the stock an "outperform" rating in a research report on Thursday, May 8th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Emerson Electric currently has a consensus rating of "Moderate Buy" and an average price target of $134.65.

Insider Activity

In other news, CEO Surendralal Lanca Karsanbhai sold 16,698 shares of the business's stock in a transaction dated 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 completion of the sale, the chief executive officer now owns 164,957 shares of the company's stock, valued at approximately $18,694,576.81. The trade was a 9.19% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company 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.

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