Canoe Financial LP Trims Stock Holdings in Emerson Electric Co. $EMR

Canoe Financial LP lessened its stake in shares of Emerson Electric Co. (NYSE:EMR) by 2.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor 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 Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in EMR. Clayton Financial Group LLC acquired a new position in shares of Emerson Electric in the third quarter valued at approximately $586,000. Whitener Capital Management Inc. grew its stake in Emerson Electric by 0.8% in the 3rd quarter. Whitener Capital Management Inc. now owns 22,123 shares of the industrial products company’s stock worth $2,902,000 after acquiring an additional 175 shares during the period. Bar Harbor Wealth Management raised its holdings in Emerson Electric by 0.9% in the 3rd quarter. Bar Harbor Wealth Management now owns 75,164 shares of the industrial products company’s stock valued at $9,860,000 after acquiring an additional 684 shares during the last quarter. Harbor Capital Advisors Inc. lifted its stake in shares of Emerson Electric by 2.8% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 12,931 shares of the industrial products company’s stock worth $1,696,000 after purchasing an additional 347 shares during the period. Finally, Norden Group LLC boosted its holdings in shares of Emerson Electric by 12.2% during the third quarter. Norden Group LLC now owns 4,105 shares of the industrial products company’s stock worth $539,000 after purchasing an additional 446 shares during the last quarter. 74.30% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO Surendralal Lanca Karsanbhai sold 7,263 shares of the firm’s stock in a transaction dated Wednesday, December 3rd. The stock was sold at an average price of $133.00, for a total transaction of $965,979.00. Following the sale, the chief executive officer directly owned 196,292 shares in the company, valued at approximately $26,106,836. This trade represents a 3.57% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.23% of the company’s stock.

Emerson Electric Trading Up 0.6%

Shares of EMR stock opened at $136.33 on Friday. 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 fifty-two week low of $90.06 and a fifty-two week high of $150.27. The firm’s 50 day moving average price is $132.96 and its two-hundred day moving average price is $133.85. The stock has a market cap of $76.66 billion, a price-to-earnings ratio of 33.74, a price-to-earnings-growth ratio of 2.22 and a beta of 1.26.

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

Emerson Electric announced that its board has initiated a share repurchase plan on Wednesday, November 5th that permits the company to buyback $0.00 in outstanding shares. This buyback authorization permits the industrial products company to reacquire shares of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.

Emerson Electric Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 10th. Stockholders of record on Friday, November 14th were given a $0.555 dividend. 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 annualized dividend and a dividend yield of 1.6%. Emerson Electric’s dividend payout ratio (DPR) is currently 54.95%.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. Barclays increased 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. Wolfe Research upped their price objective on shares of Emerson Electric from $165.00 to $168.00 and gave the company an “outperform” rating in a research note on Friday, November 21st. Weiss Ratings reissued a “buy (b-)” rating on shares of Emerson Electric in a research report on Wednesday, October 8th. JPMorgan Chase & Co. dropped their price target 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. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on shares of Emerson Electric from $157.00 to $159.00 and gave the company a “buy” rating in a report on Thursday, October 2nd. Two analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $149.06.

Emerson Electric Company 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.