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

Carnegie Investment Counsel cut its stake in Emerson Electric Co. (NYSE:EMR) by 6.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 108,343 shares of the industrial products company’s stock after selling 7,419 shares during the quarter. Carnegie Investment Counsel’s holdings in Emerson Electric were worth $14,212,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in EMR. Marshall Wace LLP increased its stake in Emerson Electric by 74.4% in the second quarter. Marshall Wace LLP now owns 1,286,755 shares of the industrial products company’s stock worth $171,563,000 after purchasing an additional 548,795 shares during the period. Coldstream Capital Management Inc. grew its holdings in shares of Emerson Electric by 18.3% in the second quarter. Coldstream Capital Management Inc. now owns 21,378 shares of the industrial products company’s stock worth $2,850,000 after purchasing an additional 3,308 shares during the last quarter. Davis Investment Partners LLC bought a new stake in Emerson Electric during the 2nd quarter valued at about $692,000. CORDA Investment Management LLC. purchased a new stake in Emerson Electric in the 2nd quarter valued at about $1,173,000. Finally, Legal & General Group Plc grew its stake in Emerson Electric by 5.0% in the 2nd quarter. Legal & General Group Plc now owns 3,600,518 shares of the industrial products company’s stock worth $480,057,000 after acquiring an additional 172,507 shares in the last quarter. Hedge funds and other institutional investors own 74.30% of the company’s stock.

Emerson Electric Stock Performance

EMR stock opened at $135.66 on Friday. The firm has a 50-day simple moving average of $133.08 and a two-hundred day simple moving average of $133.92. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.65 and a current ratio of 0.88. Emerson Electric Co. has a one year low of $90.06 and a one year high of $150.27. The firm has a market cap of $76.28 billion, a price-to-earnings ratio of 33.58, a PEG ratio of 2.22 and a beta of 1.26.

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

Emerson Electric announced that its board has authorized a stock repurchase 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 buy shares of its stock through open market purchases. Shares buyback programs are often an indication that the company’s management believes its shares are undervalued.

Emerson Electric Increases Dividend

The firm also recently announced 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. This is a positive change from Emerson Electric’s previous quarterly dividend of $0.53. The ex-dividend date was Friday, November 14th. This represents a $2.22 annualized dividend and a yield of 1.6%. Emerson Electric’s dividend payout ratio (DPR) is presently 54.95%.

Insider Buying and Selling

In other Emerson Electric 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 value of $965,979.00. Following the completion of the sale, the chief executive officer owned 196,292 shares of the company’s stock, valued at approximately $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 Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.23% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on EMR. Deutsche Bank Aktiengesellschaft boosted 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. Royal Bank Of Canada dropped their price target on Emerson Electric from $155.00 to $153.00 and set an “outperform” rating on the stock in a research report on Thursday, November 6th. Daiwa Capital Markets raised their price target on Emerson Electric from $150.00 to $153.00 and gave the company an “outperform” rating in a research note on Wednesday, September 24th. Jefferies Financial Group reiterated a “hold” rating and set a $145.00 target price on shares of Emerson Electric in a report on Wednesday, December 10th. Finally, Wells Fargo & Company restated an “equal weight” rating and issued a $140.00 price target (down previously from $150.00) on shares of Emerson Electric in a report on Monday, October 6th. Two investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target 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.