ProVise Management Group LLC Sells 200 Shares of Emerson Electric Co. (NYSE:EMR)

ProVise Management Group LLC lessened its stake in shares of Emerson Electric Co. (NYSE:EMR) by 2.0% in the second quarter, Holdings Channel reports. The institutional investor owned 9,650 shares of the industrial products company’s stock after selling 200 shares during the period. ProVise Management Group LLC’s holdings in Emerson Electric were worth $1,063,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. American National Bank & Trust Co. VA purchased a new position in shares of Emerson Electric in the 1st quarter worth about $1,011,000. Exencial Wealth Advisors LLC increased its stake in Emerson Electric by 17.6% during the 4th quarter. Exencial Wealth Advisors LLC now owns 49,112 shares of the industrial products company’s stock valued at $4,780,000 after purchasing an additional 7,358 shares in the last quarter. SG Americas Securities LLC raised its holdings in Emerson Electric by 183.6% in the first quarter. SG Americas Securities LLC now owns 81,875 shares of the industrial products company’s stock worth $9,286,000 after buying an additional 53,003 shares during the last quarter. Lloyd Advisory Services LLC. purchased a new stake in shares of Emerson Electric during the first quarter valued at approximately $1,047,000. Finally, Farther Finance Advisors LLC increased its position in shares of Emerson Electric by 55.0% during the second quarter. Farther Finance Advisors LLC now owns 8,619 shares of the industrial products company’s stock valued at $931,000 after acquiring an additional 3,060 shares in the last quarter. Hedge funds and other institutional investors own 74.30% of the company’s stock.

Emerson Electric Trading Up 2.2 %

Shares of EMR stock opened at $105.93 on Friday. Emerson Electric Co. has a 1 year low of $83.10 and a 1 year high of $119.53. The firm has a fifty day moving average price of $107.23 and a 200-day moving average price of $109.47. The company has a market cap of $60.60 billion, a price-to-earnings ratio of 5.67, a PEG ratio of 1.66 and a beta of 1.30. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.16 and a quick ratio of 0.86.

Emerson Electric (NYSE:EMR) last issued its quarterly earnings results on Wednesday, August 7th. The industrial products company reported $1.43 EPS for the quarter, topping analysts’ consensus estimates of $1.42 by $0.01. The business had revenue of $4.38 billion during the quarter, compared to analysts’ expectations of $4.44 billion. Emerson Electric had a return on equity of 11.41% and a net margin of 10.12%. The business’s quarterly revenue was up 11.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.29 earnings per share. As a group, equities analysts predict that Emerson Electric Co. will post 5.48 earnings per share for the current year.

Emerson Electric Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Friday, August 16th were given a dividend of $0.525 per share. The ex-dividend date of this dividend was Friday, August 16th. This represents a $2.10 annualized dividend and a dividend yield of 1.98%. Emerson Electric’s payout ratio is 11.24%.

Analyst Upgrades and Downgrades

Several analysts have commented on EMR shares. Oppenheimer cut their target price on Emerson Electric from $125.00 to $120.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. JPMorgan Chase & Co. cut Emerson Electric from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $132.00 to $115.00 in a research report on Wednesday, August 14th. Wells Fargo & Company decreased their target price on Emerson Electric from $137.00 to $128.00 and set an “overweight” rating for the company in a research report on Thursday, August 8th. StockNews.com downgraded shares of Emerson Electric from a “buy” rating to a “hold” rating in a report on Thursday, July 25th. Finally, Royal Bank of Canada decreased their price objective on shares of Emerson Electric from $140.00 to $139.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. One research analyst has rated the stock with a sell rating, five have given a hold rating and twelve have given a buy rating to the company. According to MarketBeat, Emerson Electric presently has a consensus rating of “Moderate Buy” and a consensus price target of $124.29.

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.