Montecito Bank & Trust Purchases 286 Shares of Emerson Electric Co. (NYSE:EMR)

Montecito Bank & Trust lifted its position in shares of Emerson Electric Co. (NYSE:EMR) by 2.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,320 shares of the industrial products company’s stock after acquiring an additional 286 shares during the period. Montecito Bank & Trust’s holdings in Emerson Electric were worth $1,238,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in EMR. Newport Trust Company LLC purchased a new position in shares of Emerson Electric in the second quarter worth $574,908,000. Pathway Financial Advisers LLC raised its position in Emerson Electric by 10,993.2% in the 3rd quarter. Pathway Financial Advisers LLC now owns 2,070,428 shares of the industrial products company’s stock worth $226,443,000 after buying an additional 2,051,764 shares during the last quarter. Van ECK Associates Corp lifted its stake in Emerson Electric by 107.2% during the 3rd quarter. Van ECK Associates Corp now owns 3,896,889 shares of the industrial products company’s stock valued at $422,852,000 after acquiring an additional 2,016,075 shares during the period. Swedbank AB boosted its holdings in shares of Emerson Electric by 127.3% during the 3rd quarter. Swedbank AB now owns 2,544,439 shares of the industrial products company’s stock valued at $278,285,000 after acquiring an additional 1,424,800 shares during the last quarter. Finally, Perpetual Ltd raised its holdings in shares of Emerson Electric by 57,336.1% during the third quarter. Perpetual Ltd now owns 1,206,158 shares of the industrial products company’s stock valued at $131,918,000 after purchasing an additional 1,204,058 shares during the last quarter. 74.30% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on EMR shares. Stephens cut Emerson Electric from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $135.00 to $120.00 in a report on Wednesday, October 16th. Royal Bank of Canada dropped their target price on Emerson Electric from $139.00 to $138.00 and set an “outperform” rating on the stock in a research report on Wednesday. Morgan Stanley assumed coverage on shares of Emerson Electric in a research note on Friday, September 6th. They issued an “underweight” rating and a $105.00 price objective on the stock. Oppenheimer upped their target price on shares of Emerson Electric from $120.00 to $125.00 and gave the company an “outperform” rating in a report on Thursday, September 26th. Finally, JPMorgan Chase & Co. cut shares of Emerson Electric from an “overweight” rating to a “neutral” rating and dropped their price target for the stock from $132.00 to $115.00 in a research note on Wednesday, August 14th. One research analyst has rated the stock with a sell rating, five have given a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $127.65.

Emerson Electric Trading Up 7.8 %

Emerson Electric stock opened at $126.86 on Thursday. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.16 and a quick ratio of 0.86. The firm’s 50 day moving average price is $107.50 and its 200-day moving average price is $109.05. Emerson Electric Co. has a 1 year low of $83.10 and a 1 year high of $127.74. The stock has a market cap of $72.65 billion, a P/E ratio of 42.57, a PEG ratio of 1.68 and a beta of 1.30.

Emerson Electric (NYSE:EMR) last released its quarterly earnings data on Wednesday, August 7th. The industrial products company reported $1.43 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 during the quarter, compared to analyst estimates of $4.44 billion. Emerson Electric’s quarterly revenue was up 11.0% compared to the same quarter last year. During the same quarter last year, the business earned $1.29 earnings per share. On average, equities analysts predict that Emerson Electric Co. will post 5.48 earnings per share for the current fiscal year.

Emerson Electric Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Friday, November 15th will be paid a dividend of $0.5275 per share. This is a boost from Emerson Electric’s previous quarterly dividend of $0.53. This represents a $2.11 annualized dividend and a yield of 1.66%. The ex-dividend date of this dividend is Friday, November 15th. Emerson Electric’s payout ratio is presently 70.47%.

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.