Greystone Financial Group LLC Has $5.74 Million Stake in Emerson Electric Co. (NYSE:EMR)

Greystone Financial Group LLC lifted its position in shares of Emerson Electric Co. (NYSE:EMR) by 33.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 52,121 shares of the industrial products company’s stock after buying an additional 12,943 shares during the quarter. Greystone Financial Group LLC’s holdings in Emerson Electric were worth $5,742,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also 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 worth $1,307,680,000 after purchasing an additional 1,488,948 shares in the last quarter. Wells Fargo & Company MN grew 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 worth $1,036,982,000 after purchasing an additional 62,105 shares during the period. Norges Bank bought a new stake in Emerson Electric in the fourth quarter valued at $764,604,000. First Trust Advisors LP boosted its position in shares of Emerson Electric by 219.2% during the 4th 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. Finally, Van ECK Associates Corp increased its position in Emerson Electric by 6.8% in the 1st quarter. Van ECK Associates Corp now owns 2,106,958 shares of the industrial products company’s stock valued at $238,971,000 after buying an additional 134,865 shares in the last quarter. Institutional investors and hedge funds own 74.30% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on EMR. Royal Bank of Canada reduced their price objective 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. Morgan Stanley began coverage on shares of Emerson Electric in a report on Friday. They set an “underweight” rating and a $105.00 price objective on the stock. Robert W. Baird lifted their price objective on shares of Emerson Electric from $116.00 to $117.00 and gave the company a “neutral” rating in a report on Thursday, August 8th. Oppenheimer lowered their target price on shares of Emerson Electric from $125.00 to $120.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. Finally, Wells Fargo & Company cut their price target on Emerson Electric from $137.00 to $128.00 and set an “overweight” rating for the company in a research note on Thursday, August 8th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $124.06.

Emerson Electric Stock Performance

NYSE:EMR traded down $1.78 on Friday, reaching $98.19. 2,780,873 shares of the company’s stock were exchanged, compared to its average volume of 2,698,155. The stock has a fifty day simple moving average of $108.69 and a 200-day simple moving average of $109.72. Emerson Electric Co. has a 52 week low of $83.10 and a 52 week high of $119.53. 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 has a market cap of $56.17 billion, a price-to-earnings ratio of 5.25, a P/E/G ratio of 1.75 and a beta of 1.30.

Emerson Electric (NYSE:EMR) last issued its earnings results on Wednesday, August 7th. The industrial products company reported $1.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.42 by $0.01. The business had revenue of $4.38 billion for the quarter, compared to analysts’ expectations of $4.44 billion. Emerson Electric had a net margin of 10.12% and a return on equity of 11.41%. The business’s revenue for the quarter was up 11.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.29 EPS. As a group, sell-side analysts predict that Emerson Electric Co. will post 5.48 earnings per share for the current year.

Emerson Electric Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Friday, August 16th will be given a $0.525 dividend. The ex-dividend date is Friday, August 16th. This represents a $2.10 dividend on an annualized basis and a dividend yield of 2.14%. Emerson Electric’s dividend payout ratio (DPR) is currently 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.