Grandfield & Dodd LLC Decreases Position in Emerson Electric Co. (NYSE:EMR)

Grandfield & Dodd LLC cut its stake in Emerson Electric Co. (NYSE:EMR) by 1.3% in the first quarter, HoldingsChannel reports. The firm owned 13,968 shares of the industrial products company’s stock after selling 187 shares during the quarter. Grandfield & Dodd LLC’s holdings in Emerson Electric were worth $1,584,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in EMR. Wellington Management Group LLP grew its holdings in Emerson Electric by 12.5% during the 4th quarter. Wellington Management Group LLP now owns 13,435,524 shares of the industrial products company’s stock worth $1,307,680,000 after acquiring an additional 1,488,948 shares in the last quarter. Wells Fargo & Company MN raised its position in shares of Emerson Electric by 0.6% during the 4th quarter. Wells Fargo & Company MN now owns 10,654,285 shares of the industrial products company’s stock worth $1,036,982,000 after acquiring an additional 62,105 shares in the last quarter. Norges Bank purchased a new position in Emerson Electric in the fourth quarter valued at approximately $764,604,000. Nordea Investment Management AB grew its position in shares of Emerson Electric by 26.5% in the 4th quarter. Nordea Investment Management AB now owns 7,447,248 shares of the industrial products company’s stock valued at $723,873,000 after buying an additional 1,558,903 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in Emerson Electric by 2.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,174,088 shares of the industrial products company’s stock valued at $308,934,000 after acquiring an additional 60,990 shares in the last quarter. Hedge funds and other institutional investors own 74.30% of the company’s stock.

Emerson Electric Stock Up 2.4 %

Shares of EMR traded up $2.65 during trading on Thursday, reaching $114.15. The company’s stock had a trading volume of 2,161,683 shares, compared to its average volume of 2,643,509. The company has a quick ratio of 0.87, a current ratio of 1.18 and a debt-to-equity ratio of 0.28. The company has a fifty day moving average of $110.27 and a two-hundred day moving average of $106.55. The company has a market cap of $65.31 billion, a price-to-earnings ratio of 6.11, a P/E/G ratio of 1.88 and a beta of 1.32. Emerson Electric Co. has a twelve month low of $83.10 and a twelve month high of $116.76.

Emerson Electric (NYSE:EMR) last issued its earnings results on Wednesday, May 8th. The industrial products company reported $1.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.25 by $0.11. The business had revenue of $4.38 billion for the quarter, compared to analyst estimates of $4.29 billion. Emerson Electric had a net margin of 64.97% and a return on equity of 11.14%. The company’s revenue for the quarter was up 16.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.09 EPS. On average, sell-side analysts predict that Emerson Electric Co. will post 5.47 EPS for the current fiscal year.

Emerson Electric Announces Dividend

The company also recently declared 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. This represents a $2.10 annualized dividend and a dividend yield of 1.84%. The ex-dividend date of this dividend was Thursday, May 16th. Emerson Electric’s dividend payout ratio is currently 11.24%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. StockNews.com downgraded Emerson Electric from a “buy” rating to a “hold” rating in a report on Friday, May 17th. Robert W. Baird dropped their price objective on shares of Emerson Electric from $120.00 to $116.00 and set a “neutral” rating on the stock in a research note on Thursday, May 9th. Redburn Atlantic began coverage on shares of Emerson Electric in a report on Monday. They set a “buy” rating and a $135.00 price target for the company. Wells Fargo & Company increased their target price on Emerson Electric from $133.00 to $137.00 and gave the stock an “overweight” rating in a research note on Wednesday, June 26th. Finally, Citigroup raised their target price on Emerson Electric from $120.00 to $133.00 and gave the company a “buy” rating in a report on Monday, April 8th. Four equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus 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.