DAVENPORT & Co LLC Sells 13,489 Shares of Emerson Electric Co. $EMR

DAVENPORT & Co LLC decreased its stake in shares of Emerson Electric Co. (NYSE:EMR) by 12.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 94,308 shares of the industrial products company’s stock after selling 13,489 shares during the period. DAVENPORT & Co LLC’s holdings in Emerson Electric were worth $12,338,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Brighton Jones LLC lifted its holdings in shares of Emerson Electric by 74.1% in the fourth quarter. Brighton Jones LLC now owns 11,392 shares of the industrial products company’s stock valued at $1,412,000 after purchasing an additional 4,850 shares in the last quarter. CW Advisors LLC raised its position in Emerson Electric by 77.2% in the 1st quarter. CW Advisors LLC now owns 3,789 shares of the industrial products company’s stock valued at $420,000 after buying an additional 1,651 shares during the last quarter. Jump Financial LLC lifted its stake in Emerson Electric by 136.8% in the 1st quarter. Jump Financial LLC now owns 4,760 shares of the industrial products company’s stock valued at $522,000 after acquiring an additional 2,750 shares in the last quarter. Freedom Investment Management Inc. boosted its position in Emerson Electric by 3.0% during the 1st quarter. Freedom Investment Management Inc. now owns 3,943 shares of the industrial products company’s stock worth $432,000 after acquiring an additional 113 shares during the last quarter. Finally, Nicolet Bankshares Inc. bought a new position in shares of Emerson Electric during the 1st quarter worth approximately $252,000. 74.30% of the stock is owned by institutional investors.

Emerson Electric Price Performance

NYSE:EMR opened at $136.33 on Thursday. The company has a quick ratio of 0.65, a current ratio of 0.88 and a debt-to-equity ratio of 0.41. Emerson Electric Co. has a 12-month low of $90.06 and a 12-month high of $150.27. The stock’s 50 day moving average price is $132.81 and its two-hundred day moving average price is $133.84. The firm has a market capitalization of $76.66 billion, a price-to-earnings ratio of 33.74, a P/E/G ratio of 2.21 and a beta of 1.26.

Emerson Electric (NYSE:EMR) last posted its earnings results on Thursday, April 6th. The industrial products company reported $0.79 earnings per share for the quarter. Emerson Electric had a return on equity of 15.87% and a net margin of 12.73%.The business had revenue of $3.16 billion for the quarter. On average, analysts anticipate that Emerson Electric Co. will post 5.96 earnings per share for the current year.

Emerson Electric declared that its Board of Directors has approved a share repurchase plan on Wednesday, November 5th that permits the company to repurchase $0.00 in outstanding shares. This repurchase authorization permits the industrial products company to purchase shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Emerson Electric Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 10th. Investors of record on Friday, November 14th were paid a $0.555 dividend. This is an increase from Emerson Electric’s previous quarterly dividend of $0.53. The ex-dividend date was Friday, November 14th. This represents a $2.22 dividend on an annualized basis and a yield of 1.6%. Emerson Electric’s dividend payout ratio (DPR) is currently 54.95%.

Insiders Place Their Bets

In other Emerson Electric news, CEO Surendralal Lanca Karsanbhai sold 7,263 shares of the firm’s stock in a transaction that occurred on Wednesday, December 3rd. The shares were sold at an average price of $133.00, for a total transaction of $965,979.00. Following the completion of the sale, the chief executive officer directly owned 196,292 shares in the company, valued at $26,106,836. This trade represents a 3.57% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.23% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several brokerages recently commented on EMR. Royal Bank Of Canada reduced their target price on shares of Emerson Electric from $155.00 to $153.00 and set an “outperform” rating for the company in a report on Thursday, November 6th. Wells Fargo & Company restated an “equal weight” rating and set a $140.00 price objective (down from $150.00) on shares of Emerson Electric in a research note on Monday, October 6th. Evercore ISI started coverage on Emerson Electric in a report on Monday, December 15th. They issued an “outperform” rating and a $170.00 price objective for the company. Deutsche Bank Aktiengesellschaft upped their target price on Emerson Electric from $157.00 to $159.00 and gave the stock a “buy” rating in a report on Thursday, October 2nd. Finally, Jefferies Financial Group restated a “hold” rating and issued a $145.00 price target on shares of Emerson Electric in a research note on Wednesday, December 10th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $149.06.

About Emerson Electric

Emerson Electric Co is a global technology and engineering company that designs and manufactures products and provides services for industrial, commercial and consumer markets. Founded in 1890, the company is headquartered in St. Louis, Missouri, and has built a long-standing presence in automation, control and climate-related technologies. Emerson’s offerings are aimed at improving productivity, energy efficiency and reliability for a wide range of end markets.

Emerson operates through two principal platforms—Automation Solutions and Commercial & Residential Solutions—providing process automation systems, measurement and analytical instrumentation, valves and actuators, control software, and related aftermarket services, alongside products for heating, ventilation and refrigeration, residential and commercial climate controls, tools and storage solutions.