Concord Wealth Partners Sells 196 Shares of Emerson Electric Co. (NYSE:EMR)

Concord Wealth Partners cut its holdings in Emerson Electric Co. (NYSE:EMR) by 13.7% during the 3rd quarter, Holdings Channel reports. The fund owned 1,234 shares of the industrial products company’s stock after selling 196 shares during the period. Concord Wealth Partners’ holdings in Emerson Electric were worth $135,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Tributary Capital Management LLC purchased a new position in Emerson Electric during the first quarter valued at $35,000. State of Michigan Retirement System lifted its position in shares of Emerson Electric by 0.3% during the 1st quarter. State of Michigan Retirement System now owns 156,620 shares of the industrial products company’s stock valued at $17,764,000 after buying an additional 500 shares in the last quarter. Plimoth Trust Co. LLC grew its stake in shares of Emerson Electric by 8.9% during the 1st quarter. Plimoth Trust Co. LLC now owns 20,672 shares of the industrial products company’s stock valued at $2,345,000 after acquiring an additional 1,697 shares during the period. Monument Capital Management purchased a new stake in Emerson Electric in the 1st quarter worth approximately $226,000. Finally, State of Alaska Department of Revenue raised its stake in Emerson Electric by 0.7% during the 1st quarter. State of Alaska Department of Revenue now owns 62,026 shares of the industrial products company’s stock worth $7,034,000 after acquiring an additional 455 shares during the period. Hedge funds and other institutional investors own 74.30% of the company’s stock.

Analyst Ratings Changes

EMR has been the subject of a number of recent analyst reports. Redburn Atlantic began coverage on shares of Emerson Electric in a research report on Monday, July 8th. They issued a “buy” rating and a $135.00 price target for the company. Wells Fargo & Company decreased their price target on Emerson Electric from $137.00 to $128.00 and set an “overweight” rating on the stock in a report on Thursday, August 8th. Oppenheimer lifted their price objective on shares of Emerson Electric from $120.00 to $125.00 and gave the company an “outperform” rating in a research report on Thursday, September 26th. Stephens cut shares of Emerson Electric from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $135.00 to $120.00 in a research note on Wednesday, October 16th. Finally, StockNews.com downgraded shares of Emerson Electric from a “buy” rating to a “hold” rating in a report on Thursday, July 25th. One analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $125.47.

Emerson Electric Stock Performance

Shares of NYSE:EMR opened at $108.78 on Tuesday. The company has a current ratio of 1.16, a quick ratio of 0.86 and a debt-to-equity ratio of 0.27. The company has a market capitalization of $62.23 billion, a price-to-earnings ratio of 5.82, a PEG ratio of 1.68 and a beta of 1.30. Emerson Electric Co. has a 12 month low of $83.10 and a 12 month high of $119.53. The firm’s 50-day moving average is $106.29 and its 200 day moving average is $108.93.

Emerson Electric (NYSE:EMR) last issued its quarterly earnings results on Wednesday, August 7th. The industrial products company reported $1.43 earnings per share for the quarter, topping the consensus estimate of $1.42 by $0.01. The firm had revenue of $4.38 billion for the quarter, compared to the consensus estimate of $4.44 billion. Emerson Electric had a return on equity of 11.41% and a net margin of 10.12%. The company’s revenue for the quarter was up 11.0% on a year-over-year basis. During the same period in the prior year, the business posted $1.29 earnings per share. Research analysts predict that Emerson Electric Co. will post 5.48 EPS for the current year.

Emerson Electric Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Friday, August 16th were issued a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a dividend yield of 1.93%. The ex-dividend date of this dividend was Friday, August 16th. Emerson Electric’s payout ratio is presently 11.24%.

Emerson Electric Company Profile

Emerson Electric Co, a technology and software company, provides various solutions for customers in industrial, commercial, and consumer markets in the Americas, Asia, the Middle East, Africa, and Europe. It operates in six segments: Final Control, Control Systems & Software, Measurement & Analytical, AspenTech, Discrete Automation, and Safety & Productivity.