Chevy Chase Trust Holdings LLC Has $36.84 Million Position in Emerson Electric Co. (NYSE:EMR)

Chevy Chase Trust Holdings LLC cut its holdings in Emerson Electric Co. (NYSE:EMR) by 1.4% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 324,833 shares of the industrial products company’s stock after selling 4,467 shares during the quarter. Chevy Chase Trust Holdings LLC’s holdings in Emerson Electric were worth $36,843,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in EMR. Harbour Investments Inc. increased its stake in shares of Emerson Electric by 19.0% in the third quarter. Harbour Investments Inc. now owns 5,234 shares of the industrial products company’s stock valued at $505,000 after buying an additional 835 shares in the last quarter. Financial Gravity Asset Management Inc. increased its position in Emerson Electric by 1,800.0% in the third quarter. Financial Gravity Asset Management Inc. now owns 1,121 shares of the industrial products company’s stock worth $108,000 after purchasing an additional 1,062 shares during the period. Creative Planning increased its position in Emerson Electric by 5.1% in the third quarter. Creative Planning now owns 172,159 shares of the industrial products company’s stock worth $16,625,000 after purchasing an additional 8,378 shares during the period. Diversified Trust Co increased its position in Emerson Electric by 6.1% in the third quarter. Diversified Trust Co now owns 27,202 shares of the industrial products company’s stock worth $2,627,000 after purchasing an additional 1,570 shares during the period. Finally, Comerica Bank bought a new position in Emerson Electric during the third quarter worth about $55,460,000. 74.30% of the stock is currently owned by institutional investors and hedge funds.

Emerson Electric Stock Performance

EMR traded up $1.42 during trading on Wednesday, hitting $111.01. The stock had a trading volume of 796,763 shares, compared to its average volume of 2,638,370. The company has a 50 day moving average price of $110.01 and a 200-day moving average price of $106.46. The firm has a market cap of $63.51 billion, a price-to-earnings ratio of 5.94, a P/E/G ratio of 1.88 and a beta of 1.32. Emerson Electric Co. has a one year low of $83.10 and a one year high of $116.76. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.18 and a quick ratio of 0.87.

Emerson Electric (NYSE:EMR) last released its earnings results on Wednesday, May 8th. The industrial products company reported $1.36 earnings per share for the quarter, beating analysts’ consensus estimates of $1.25 by $0.11. The firm had revenue of $4.38 billion during the quarter, compared to the consensus estimate of $4.29 billion. Emerson Electric had a return on equity of 11.14% and a net margin of 64.97%. The company’s revenue was up 16.5% compared to the same quarter last year. During the same period in the prior year, the company posted $1.09 EPS. As a group, research analysts predict that Emerson Electric Co. will post 5.47 EPS for the current year.

Emerson Electric Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Friday, May 17th were given a dividend of $0.525 per share. The ex-dividend date was Thursday, May 16th. This represents a $2.10 annualized dividend and a dividend yield of 1.89%. Emerson Electric’s dividend payout ratio is currently 11.24%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Deutsche Bank Aktiengesellschaft upgraded Emerson Electric from a “hold” rating to a “buy” rating and lifted their price objective for the company from $123.00 to $138.00 in a report on Thursday, May 9th. Mizuho lifted their price objective on Emerson Electric from $130.00 to $135.00 and gave the company a “buy” rating in a report on Thursday, May 9th. Citigroup lifted their price objective on Emerson Electric from $120.00 to $133.00 and gave the company a “buy” rating in a report on Monday, April 8th. Barclays lifted their price objective on Emerson Electric from $105.00 to $110.00 and gave the company an “equal weight” rating in a report on Friday, May 10th. Finally, Robert W. Baird cut their target price on Emerson Electric from $120.00 to $116.00 and set a “neutral” rating on the stock in a research note on Thursday, May 9th. Four investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $123.44.

About Emerson Electric

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.