Emerson Electric Co. (NYSE:EMR) Shares Sold by Hartford Investment Management Co.

Hartford Investment Management Co. decreased its holdings in shares of Emerson Electric Co. (NYSE:EMR) by 1.7% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 36,044 shares of the industrial products company’s stock after selling 625 shares during the period. Hartford Investment Management Co.’s holdings in Emerson Electric were worth $3,942,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of EMR. Newport Trust Company LLC acquired a new stake in shares of Emerson Electric during the second quarter worth $574,908,000. Swedbank AB raised its stake in Emerson Electric by 127.3% in the 3rd quarter. Swedbank AB now owns 2,544,439 shares of the industrial products company’s stock worth $278,285,000 after acquiring an additional 1,424,800 shares during the last quarter. Perpetual Ltd lifted its position in Emerson Electric by 57,336.1% during the 3rd quarter. Perpetual Ltd now owns 1,206,158 shares of the industrial products company’s stock worth $131,918,000 after acquiring an additional 1,204,058 shares during the period. Clean Energy Transition LLP grew its stake in Emerson Electric by 110.7% during the 1st quarter. Clean Energy Transition LLP now owns 1,885,183 shares of the industrial products company’s stock valued at $213,817,000 after purchasing an additional 990,615 shares during the last quarter. Finally, Sarasin & Partners LLP purchased a new position in shares of Emerson Electric in the third quarter worth about $87,551,000. Institutional investors and hedge funds own 74.30% of the company’s stock.

Emerson Electric Trading Down 0.9 %

Shares of NYSE:EMR opened at $108.51 on Thursday. The firm has a market capitalization of $62.08 billion, a price-to-earnings ratio of 5.81, a price-to-earnings-growth ratio of 1.70 and a beta of 1.30. The business’s 50 day moving average price is $106.01 and its 200-day moving average price is $109.09. 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 Co. has a 1 year low of $83.10 and a 1 year high of $119.53.

Emerson Electric (NYSE:EMR) last announced its earnings results on Wednesday, August 7th. The industrial products company reported $1.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.42 by $0.01. Emerson Electric had a net margin of 10.12% and a return on equity of 11.41%. The business had revenue of $4.38 billion for the quarter, compared to analyst estimates of $4.44 billion. During the same quarter last year, the business earned $1.29 earnings per share. The company’s revenue for the quarter was up 11.0% compared to the same quarter last year. On average, equities research analysts forecast that Emerson Electric Co. will post 5.48 earnings per share for the current fiscal year.

Emerson Electric Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Friday, August 16th were issued a dividend of $0.525 per share. The ex-dividend date of this dividend was Friday, August 16th. This represents a $2.10 dividend on an annualized basis and a dividend yield of 1.94%. Emerson Electric’s payout ratio is currently 11.24%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Morgan Stanley initiated coverage on shares of Emerson Electric in a report on Friday, September 6th. They issued an “underweight” rating and a $105.00 price target on the stock. Barclays cut their price objective on shares of Emerson Electric from $110.00 to $103.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 8th. Redburn Atlantic initiated coverage on shares of Emerson Electric in a report on Monday, July 8th. They issued a “buy” rating and a $135.00 price target on the stock. JPMorgan Chase & Co. lowered Emerson Electric from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $132.00 to $115.00 in a research note on Wednesday, August 14th. Finally, Robert W. Baird upped their target price on Emerson Electric from $116.00 to $117.00 and gave the stock a “neutral” rating in a research note on Thursday, August 8th. One analyst has rated the stock with a sell rating, six have given a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, Emerson Electric has an average rating of “Moderate Buy” and an average price target of $125.47.

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.