Connors Investor Services Inc. Cuts Position in Emerson Electric Co. (NYSE:EMR)

Connors Investor Services Inc. lessened its position in Emerson Electric Co. (NYSE:EMR) by 11.0% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 128,341 shares of the industrial products company’s stock after selling 15,925 shares during the quarter. Emerson Electric accounts for approximately 1.5% of Connors Investor Services Inc.’s portfolio, making the stock its 25th biggest position. Connors Investor Services Inc.’s holdings in Emerson Electric were worth $14,556,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Wellington Management Group LLP increased its holdings in Emerson Electric by 12.5% in the fourth quarter. Wellington Management Group LLP now owns 13,435,524 shares of the industrial products company’s stock valued at $1,307,680,000 after buying an additional 1,488,948 shares during the last quarter. Wells Fargo & Company MN boosted its holdings in Emerson Electric by 0.6% in the fourth quarter. Wells Fargo & Company MN now owns 10,654,285 shares of the industrial products company’s stock valued at $1,036,982,000 after purchasing an additional 62,105 shares in the last quarter. Norges Bank purchased a new stake in Emerson Electric in the fourth quarter valued at $764,604,000. 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. Finally, First Trust Advisors LP increased its position in shares of Emerson Electric by 219.2% during the fourth quarter. First Trust Advisors LP now owns 2,601,619 shares of the industrial products company’s stock worth $253,216,000 after purchasing an additional 1,786,583 shares in the last quarter. Institutional investors and hedge funds own 74.30% of the company’s stock.

Analysts Set New Price Targets

EMR has been the topic of a number of research reports. Deutsche Bank Aktiengesellschaft upgraded Emerson Electric from a “hold” rating to a “buy” rating and raised their price target for the stock from $123.00 to $138.00 in a research note on Thursday, May 9th. StockNews.com raised shares of Emerson Electric from a “hold” rating to a “buy” rating in a report on Monday, July 15th. Redburn Atlantic assumed coverage on shares of Emerson Electric in a research note on Monday, July 8th. They set a “buy” rating and a $135.00 price target for the company. Citigroup lifted their price objective on shares of Emerson Electric from $120.00 to $133.00 and gave the company a “buy” rating in a research note on Monday, April 8th. Finally, Mizuho increased their target price on shares of Emerson Electric from $130.00 to $135.00 and gave the stock a “buy” rating in a research note on Thursday, May 9th. Three investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $123.44.

Emerson Electric Price Performance

Shares of NYSE:EMR traded down $0.86 on Friday, reaching $115.68. 2,657,799 shares of the company were exchanged, compared to its average volume of 2,370,303. The company has a current ratio of 1.18, a quick ratio of 0.87 and a debt-to-equity ratio of 0.28. Emerson Electric Co. has a 1-year low of $83.10 and a 1-year high of $119.53. The company has a 50-day moving average of $111.00 and a 200-day moving average of $107.53. The firm has a market cap of $66.18 billion, a price-to-earnings ratio of 6.19, a price-to-earnings-growth ratio of 1.97 and a beta of 1.32.

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

Emerson Electric Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 10th. Shareholders 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 dividend on an annualized basis and a yield of 1.82%. Emerson Electric’s payout ratio is 11.24%.

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.