Emerson Electric Co. (NYSE:EMR) Shares Sold by Cigna Investments Inc. New

Cigna Investments Inc. New decreased its position in Emerson Electric Co. (NYSE:EMR) by 2.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 5,883 shares of the industrial products company’s stock after selling 117 shares during the period. Cigna Investments Inc. New’s holdings in Emerson Electric were worth $643,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. SG Americas Securities LLC increased its position in Emerson Electric by 183.6% in the 1st quarter. SG Americas Securities LLC now owns 81,875 shares of the industrial products company’s stock valued at $9,286,000 after acquiring an additional 53,003 shares during the period. Farther Finance Advisors LLC raised its stake in shares of Emerson Electric by 55.0% during the second quarter. Farther Finance Advisors LLC now owns 8,619 shares of the industrial products company’s stock valued at $931,000 after purchasing an additional 3,060 shares in the last quarter. Daiwa Securities Group Inc. lifted its holdings in Emerson Electric by 17.8% in the first quarter. Daiwa Securities Group Inc. now owns 100,029 shares of the industrial products company’s stock worth $11,345,000 after purchasing an additional 15,098 shares during the period. Montag A & Associates Inc. grew its position in Emerson Electric by 122.4% in the 1st quarter. Montag A & Associates Inc. now owns 18,775 shares of the industrial products company’s stock valued at $2,129,000 after buying an additional 10,333 shares in the last quarter. Finally, Bank of Montreal Can increased its stake in Emerson Electric by 17.0% during the 2nd quarter. Bank of Montreal Can now owns 1,339,301 shares of the industrial products company’s stock valued at $152,359,000 after buying an additional 194,944 shares during the period. Institutional investors and hedge funds own 74.30% of the company’s stock.

Emerson Electric Stock Performance

Shares of EMR stock opened at $108.46 on Friday. The company has a market capitalization of $62.12 billion, a price-to-earnings ratio of 36.40, a P/E/G ratio of 1.67 and a beta of 1.30. Emerson Electric Co. has a 1-year low of $83.10 and a 1-year high of $119.53. 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 stock’s fifty day simple moving average is $106.66 and its 200-day simple moving average is $108.88.

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

Emerson Electric Dividend Announcement

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 dividend of $0.525 per share. This represents a $2.10 annualized dividend and a dividend yield of 1.94%. The ex-dividend date was Friday, August 16th. Emerson Electric’s dividend payout ratio is currently 70.47%.

Wall Street Analysts Forecast Growth

EMR has been the topic of a number of research analyst reports. StockNews.com lowered shares of Emerson Electric from a “buy” rating to a “hold” rating in a research note on Thursday, July 25th. Robert W. Baird boosted their price target on shares of Emerson Electric from $116.00 to $117.00 and gave the stock a “neutral” rating in a research report on Thursday, August 8th. Barclays cut their price target on shares of Emerson Electric from $110.00 to $103.00 and set an “equal weight” rating for the company in a report on Thursday, August 8th. Wells Fargo & Company dropped their target price on shares of Emerson Electric from $137.00 to $128.00 and set an “overweight” rating on the stock in a report on Thursday, August 8th. Finally, Stephens cut shares of Emerson Electric from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $135.00 to $120.00 in a report on Wednesday, October 16th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $125.47.

About Emerson Electric

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.