Prossimo Advisors LLC Lowers Stock Position in Emerson Electric Co. (NYSE:EMR)

Prossimo Advisors LLC trimmed its holdings in shares of Emerson Electric Co. (NYSE:EMR) by 20.8% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 5,150 shares of the industrial products company’s stock after selling 1,350 shares during the quarter. Prossimo Advisors LLC’s holdings in Emerson Electric were worth $563,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Transcendent Capital Group LLC purchased a new position in shares of Emerson Electric in the 1st quarter worth approximately $31,000. Meeder Asset Management Inc. increased its position in shares of Emerson Electric by 361.5% during the second quarter. Meeder Asset Management Inc. now owns 300 shares of the industrial products company’s stock worth $33,000 after purchasing an additional 235 shares in the last quarter. Morton Brown Family Wealth LLC purchased a new stake in shares of Emerson Electric during the 3rd quarter valued at $33,000. Versant Capital Management Inc boosted its position in shares of Emerson Electric by 471.9% in the 2nd quarter. Versant Capital Management Inc now owns 326 shares of the industrial products company’s stock worth $36,000 after purchasing an additional 269 shares in the last quarter. Finally, Matrix Trust Co purchased a new position in Emerson Electric during the 3rd quarter worth $44,000. Institutional investors own 74.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on EMR. Barclays dropped their price target on 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. Stephens lowered shares of Emerson Electric from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $135.00 to $120.00 in a research note on Wednesday, October 16th. Oppenheimer lifted their price objective on shares of Emerson Electric from $120.00 to $125.00 and gave the stock an “outperform” rating in a research note on Thursday, September 26th. Royal Bank of Canada reduced their target price on Emerson Electric from $140.00 to $139.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. Finally, StockNews.com downgraded Emerson Electric from a “buy” rating to a “hold” rating in a research note on Thursday, July 25th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $125.47.

Emerson Electric Stock Performance

Shares of NYSE EMR opened at $108.46 on Friday. Emerson Electric Co. has a 1 year low of $83.10 and a 1 year high of $119.53. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.86 and a current ratio of 1.16. The company’s fifty day moving average price is $106.66 and its 200 day moving average price is $108.86. The company has a market capitalization of $62.12 billion, a PE ratio of 36.40, a price-to-earnings-growth ratio of 1.66 and a beta of 1.30.

Emerson Electric (NYSE:EMR) last posted its earnings results on Wednesday, August 7th. The industrial products company reported $1.43 EPS for the quarter, beating analysts’ consensus estimates of $1.42 by $0.01. The firm had revenue of $4.38 billion for 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 company’s quarterly revenue was up 11.0% on a year-over-year basis. During the same period last year, the firm earned $1.29 EPS. On average, research analysts predict that Emerson Electric Co. will post 5.48 earnings per share for the current year.

Emerson Electric Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Friday, August 16th were issued a $0.525 dividend. This represents a $2.10 annualized dividend and a yield of 1.94%. The ex-dividend date of this dividend was Friday, August 16th. Emerson Electric’s payout ratio is presently 70.47%.

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.