Carnegie Investment Counsel Sells 7,419 Shares of Emerson Electric Co. $EMR

Carnegie Investment Counsel cut its stake in shares of Emerson Electric Co. (NYSE:EMR) by 6.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 108,343 shares of the industrial products company’s stock after selling 7,419 shares during the period. Carnegie Investment Counsel’s holdings in Emerson Electric were worth $14,212,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in Emerson Electric by 1.3% in the second 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 period. State Street Corp increased its position in shares of Emerson Electric by 3.0% during the 2nd 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 last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Emerson Electric by 75.0% in 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 buying an additional 5,371,585 shares during the last quarter. Geode Capital Management LLC grew its position in 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 valued at $1,610,958,000 after buying an additional 89,192 shares during the period. Finally, Nordea Investment Management AB raised its position in Emerson Electric by 19.5% in the second quarter. Nordea Investment Management AB now owns 9,195,005 shares of the industrial products company’s stock worth $1,223,947,000 after acquiring an additional 1,499,000 shares during the period. 74.30% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Emerson Electric

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

Emerson Electric Stock Down 0.5%

Shares of EMR stock opened at $135.66 on Friday. The company’s fifty day simple moving average is $133.08 and its two-hundred day simple moving average is $133.92. Emerson Electric Co. has a 52 week low of $90.06 and a 52 week high of $150.27. The stock has a market cap of $76.28 billion, a P/E ratio of 33.58, a PEG ratio of 2.22 and a beta of 1.26. 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 (NYSE:EMR) last issued its earnings results on Thursday, April 6th. The industrial products company reported $0.79 earnings per share (EPS) for the quarter. Emerson Electric had a return on equity of 15.87% and a net margin of 12.73%.The firm had revenue of $3.16 billion for the quarter. Analysts predict that Emerson Electric Co. will post 5.96 EPS for the current fiscal year.

Emerson Electric announced that its Board of Directors has authorized a stock buyback program on Wednesday, November 5th that authorizes the company to buyback $0.00 in outstanding shares. This buyback authorization authorizes the industrial products company to purchase shares of its stock through open market purchases. Shares buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Emerson Electric Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 10th. Investors of record on Friday, November 14th were paid a dividend of $0.555 per share. 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. This represents a $2.22 dividend on an annualized basis and a yield of 1.6%. Emerson Electric’s payout ratio is currently 54.95%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on EMR shares. Deutsche Bank Aktiengesellschaft upped their price objective on Emerson Electric from $157.00 to $159.00 and gave the stock a “buy” rating in a research note on Thursday, October 2nd. Wolfe Research boosted their price objective on Emerson Electric from $165.00 to $168.00 and gave the company an “outperform” rating in a research note on Friday, November 21st. Daiwa Capital Markets lifted their price target on shares of Emerson Electric from $150.00 to $153.00 and gave the company an “outperform” rating in a report on Wednesday, September 24th. Barclays lifted their target price on shares of Emerson Electric from $127.00 to $135.00 and gave the company an “equal weight” rating in a research note on Thursday, November 6th. Finally, Jefferies Financial Group reissued a “hold” rating and set a $145.00 price target on shares of Emerson Electric in a report on Wednesday, December 10th. Two research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $149.06.

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.