Chemical Bank Sells 929 Shares of Emerson Electric Co. (EMR)

Chemical Bank lowered its holdings in Emerson Electric Co. (NYSE:EMR) by 1.6% in the 3rd quarter, HoldingsChannel reports. The fund owned 58,269 shares of the industrial products company’s stock after selling 929 shares during the quarter. Chemical Bank’s holdings in Emerson Electric were worth $4,462,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the company. Regal Investment Advisors LLC boosted its stake in shares of Emerson Electric by 65.0% in the third quarter. Regal Investment Advisors LLC now owns 81,707 shares of the industrial products company’s stock valued at $6,257,000 after purchasing an additional 32,201 shares during the period. IFG Advisory LLC boosted its stake in shares of Emerson Electric by 19.8% in the third quarter. IFG Advisory LLC now owns 18,037 shares of the industrial products company’s stock valued at $1,381,000 after purchasing an additional 2,984 shares during the period. Emerald Investment Partners LLC purchased a new position in shares of Emerson Electric in the third quarter valued at $203,000. Main Street Research LLC purchased a new position in shares of Emerson Electric in the third quarter valued at $14,227,000. Finally, Janney Montgomery Scott LLC boosted its stake in shares of Emerson Electric by 1.6% in the third quarter. Janney Montgomery Scott LLC now owns 156,858 shares of the industrial products company’s stock valued at $12,012,000 after purchasing an additional 2,541 shares during the period. 70.33% of the stock is owned by institutional investors.

Several brokerages have recently weighed in on EMR. Barclays upped their target price on shares of Emerson Electric from $80.00 to $85.00 and gave the company an “overweight” rating in a research note on Thursday, August 9th. Zacks Investment Research upgraded shares of Emerson Electric from a “hold” rating to a “buy” rating and set a $80.00 target price for the company in a research note on Monday, August 6th. UBS Group upped their target price on shares of Emerson Electric from $85.00 to $90.00 and gave the company a “buy” rating in a research note on Thursday, August 30th. Cowen restated a “buy” rating and issued a $81.00 target price on shares of Emerson Electric in a research note on Wednesday, September 19th. Finally, ValuEngine downgraded shares of Emerson Electric from a “buy” rating to a “hold” rating in a research note on Tuesday, July 24th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $78.30.

In other Emerson Electric news, VP Steven J. Pelch sold 6,409 shares of the stock in a transaction on Tuesday, August 14th. The shares were sold at an average price of $74.24, for a total transaction of $475,804.16. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, President Edward L. Monser sold 60,000 shares of the stock in a transaction on Monday, September 10th. The stock was sold at an average price of $76.10, for a total transaction of $4,566,000.00. Following the sale, the president now directly owns 176,477 shares in the company, valued at $13,429,899.70. The disclosure for this sale can be found here. Insiders have sold 96,409 shares of company stock worth $7,317,004 over the last three months. 0.79% of the stock is owned by corporate insiders.

NYSE EMR opened at $68.49 on Friday. Emerson Electric Co. has a 12 month low of $57.47 and a 12 month high of $79.70. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.97 and a current ratio of 1.07. The firm has a market cap of $43.91 billion, a price-to-earnings ratio of 22.47, a P/E/G ratio of 2.11 and a beta of 1.20.

Emerson Electric (NYSE:EMR) last posted its quarterly earnings data on Tuesday, November 6th. The industrial products company reported $0.89 EPS for the quarter, missing the Zacks’ consensus estimate of $0.92 by ($0.03). Emerson Electric had a net margin of 12.65% and a return on equity of 23.06%. The company had revenue of $4.89 billion for the quarter, compared to the consensus estimate of $4.91 billion. During the same quarter last year, the company earned $0.83 earnings per share. The company’s revenue was up 10.2% compared to the same quarter last year. On average, research analysts expect that Emerson Electric Co. will post 3.69 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 10th. Shareholders of record on Friday, November 16th will be issued a dividend of $0.49 per share. This represents a $1.96 dividend on an annualized basis and a dividend yield of 2.86%. This is a boost from Emerson Electric’s previous quarterly dividend of $0.49. The ex-dividend date is Thursday, November 15th. Emerson Electric’s dividend payout ratio is 57.40%.

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About Emerson Electric

Emerson Electric Co, a technology and engineering company, provides various solutions to industrial, commercial, and residential markets worldwide. The company's Automation Solutions segment offers software; measurement and analytical instrumentation; valves, actuators, and regulators; industry services and solutions; process control systems and solutions; and digital plant solutions.

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Institutional Ownership by Quarter for Emerson Electric (NYSE:EMR)

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