Canoe Financial LP Lowers Stake in Emerson Electric Co. $EMR

Canoe Financial LP cut its holdings in Emerson Electric Co. (NYSE:EMR) by 2.9% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 238,587 shares of the industrial products company’s stock after selling 7,247 shares during the quarter. Canoe Financial LP’s holdings in Emerson Electric were worth $31,298,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. raised its stake in Emerson Electric by 1.3% during the 2nd quarter. Vanguard Group Inc. now owns 54,129,898 shares of the industrial products company’s stock valued at $7,217,139,000 after acquiring an additional 695,105 shares during the last quarter. State Street Corp increased its holdings in shares of Emerson Electric by 3.0% in the second quarter. State Street Corp now owns 27,053,019 shares of the industrial products company’s stock valued at $3,606,979,000 after purchasing an additional 784,987 shares during the period. JPMorgan Chase & Co. raised its stake in shares of Emerson Electric by 75.0% during the second quarter. JPMorgan Chase & Co. now owns 12,538,402 shares of the industrial products company’s stock worth $1,671,762,000 after purchasing an additional 5,371,585 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Emerson Electric by 0.7% during the second quarter. Geode Capital Management LLC now owns 12,143,357 shares of the industrial products company’s stock worth $1,610,958,000 after purchasing an additional 89,192 shares during the period. Finally, Nordea Investment Management AB grew its position in Emerson Electric by 19.5% in the 2nd quarter. Nordea Investment Management AB now owns 9,195,005 shares of the industrial products company’s stock valued at $1,223,947,000 after buying an additional 1,499,000 shares during the last quarter. Institutional investors and hedge funds own 74.30% of the company’s stock.

Analyst Ratings Changes

EMR has been the subject of several recent analyst reports. Daiwa Capital Markets raised their target price on shares of Emerson Electric from $150.00 to $153.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 24th. JPMorgan Chase & Co. reduced their price objective on shares of Emerson Electric from $151.00 to $150.00 and set a “neutral” rating for the company in a research report on Monday, November 10th. Barclays boosted their target price on Emerson Electric from $127.00 to $135.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 6th. Deutsche Bank Aktiengesellschaft raised their price target on Emerson Electric from $157.00 to $159.00 and gave the company a “buy” rating in a report on Thursday, October 2nd. Finally, Wolfe Research upped their price objective on Emerson Electric from $165.00 to $168.00 and gave the stock an “outperform” rating in a report on Friday, November 21st. Two research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Emerson Electric presently has a consensus rating of “Moderate Buy” and an average target price of $149.06.

Emerson Electric Stock Performance

EMR opened at $136.33 on Friday. Emerson Electric Co. has a 1-year low of $90.06 and a 1-year high of $150.27. The stock has a market cap of $76.66 billion, a P/E ratio of 33.74, a P/E/G ratio of 2.22 and a beta of 1.26. The stock’s 50 day simple moving average is $132.96 and its 200 day simple moving average is $133.85. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.88 and a quick ratio of 0.65.

Emerson Electric (NYSE:EMR) last issued its quarterly earnings data on Thursday, April 6th. The industrial products company reported $0.79 earnings per share (EPS) for the quarter. The firm had revenue of $3.16 billion during the quarter. Emerson Electric had a return on equity of 15.87% and a net margin of 12.73%. As a group, equities analysts anticipate that Emerson Electric Co. will post 5.96 EPS for the current fiscal year.

Emerson Electric Increases Dividend

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

Emerson Electric announced that its board has initiated a share repurchase plan on Wednesday, November 5th that authorizes the company to repurchase $0.00 in outstanding shares. This repurchase authorization authorizes the industrial products company to reacquire shares of its stock through open market purchases. Shares repurchase plans are often an indication that the company’s board believes its shares are undervalued.

Insider Transactions at Emerson Electric

In other Emerson Electric news, CEO Surendralal Lanca Karsanbhai sold 7,263 shares of Emerson Electric stock in a transaction dated 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 transaction, the chief executive officer owned 196,292 shares in the company, valued at approximately $26,106,836. The trade was a 3.57% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.23% of the company’s stock.

Emerson Electric Profile

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.