Palisade Asset Management LLC Reduces Stock Holdings in Emerson Electric Co. (NYSE:EMR)

Palisade Asset Management LLC cut its holdings in shares of Emerson Electric Co. (NYSE:EMR) by 0.3% in the fourth quarter, HoldingsChannel reports. The firm owned 36,997 shares of the industrial products company’s stock after selling 124 shares during the period. Palisade Asset Management LLC’s holdings in Emerson Electric were worth $3,601,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Tobam raised its position in Emerson Electric by 2,275.0% during the fourth quarter. Tobam now owns 285 shares of the industrial products company’s stock valued at $28,000 after acquiring an additional 273 shares in the last quarter. Tennessee Valley Asset Management Partners acquired a new position in shares of Emerson Electric in the 4th quarter valued at $35,000. Morton Brown Family Wealth LLC purchased a new stake in Emerson Electric during the fourth quarter worth $39,000. MCF Advisors LLC increased its holdings in Emerson Electric by 1,484.6% in the fourth quarter. MCF Advisors LLC now owns 412 shares of the industrial products company’s stock valued at $40,000 after buying an additional 386 shares in the last quarter. Finally, Authentikos Wealth Advisory LLC acquired a new position in shares of Emerson Electric in the third quarter worth about $42,000. 74.30% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Emerson Electric

In other Emerson Electric news, Director Mark A. Blinn sold 2,413 shares of Emerson Electric stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $103.18, for a total value of $248,973.34. Following the transaction, the director now directly owns 9,591 shares in the company, valued at approximately $989,599.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.25% of the stock is currently owned by insiders.

Emerson Electric Trading Up 4.9 %

Shares of EMR traded up $5.25 during trading on Wednesday, reaching $112.65. 6,038,704 shares of the company traded hands, compared to its average volume of 2,799,469. The stock has a market cap of $64.30 billion, a PE ratio of 5.60, a price-to-earnings-growth ratio of 1.84 and a beta of 1.36. The company has a quick ratio of 0.80, a current ratio of 1.12 and a debt-to-equity ratio of 0.29. Emerson Electric Co. has a twelve month low of $76.94 and a twelve month high of $115.26. The stock has a 50-day simple moving average of $110.61 and a 200-day simple moving average of $99.95.

Emerson Electric (NYSE:EMR) last announced its earnings results on Wednesday, February 7th. The industrial products company reported $1.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.04 by $0.18. The business had revenue of $4.12 billion for the quarter, compared to analyst estimates of $3.91 billion. Emerson Electric had a net margin of 69.33% and a return on equity of 11.59%. The company’s revenue for the quarter was up 22.1% compared to the same quarter last year. During the same period last year, the firm posted $0.78 earnings per share. On average, analysts anticipate that Emerson Electric Co. will post 5.4 earnings per share for the current year.

Emerson Electric Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Friday, May 17th will be paid a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a dividend yield of 1.86%. Emerson Electric’s dividend payout ratio (DPR) is 10.94%.

Analysts Set New Price Targets

EMR has been the subject of a number of analyst reports. Royal Bank of Canada upped their price target on Emerson Electric from $106.00 to $120.00 and gave the stock an “outperform” rating in a report on Thursday, February 8th. Bank of America lifted their price target on shares of Emerson Electric from $120.00 to $130.00 and gave the company a “buy” rating in a research note on Monday, March 4th. KeyCorp upped their price objective on shares of Emerson Electric from $120.00 to $125.00 and gave the stock an “overweight” rating in a research report on Thursday, February 8th. Citigroup boosted their target price on shares of Emerson Electric from $120.00 to $133.00 and gave the stock a “buy” rating in a research note on Monday, April 8th. Finally, UBS Group raised their price target on shares of Emerson Electric from $95.00 to $120.00 and gave the company a “neutral” rating in a research note on Thursday, March 21st. Three analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $118.07.

Emerson Electric Company 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.