Great Lakes Advisors LLC Trims Stock Position in Emerson Electric Co. (NYSE:EMR)

Great Lakes Advisors LLC decreased its holdings in Emerson Electric Co. (NYSE:EMR) by 0.8% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 349,267 shares of the industrial products company’s stock after selling 2,825 shares during the quarter. Great Lakes Advisors LLC owned approximately 0.06% of Emerson Electric worth $38,475,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Security National Bank acquired a new position in shares of Emerson Electric in the 4th quarter valued at $29,000. Cape Investment Advisory Inc. grew its position in Emerson Electric by 148.0% during the fourth quarter. Cape Investment Advisory Inc. now owns 315 shares of the industrial products company’s stock valued at $31,000 after acquiring an additional 188 shares during the period. Transcendent Capital Group LLC acquired a new stake in Emerson Electric during the first quarter worth about $31,000. Burkett Financial Services LLC purchased a new position in shares of Emerson Electric in the 4th quarter worth about $32,000. Finally, Tributary Capital Management LLC acquired a new position in shares of Emerson Electric in the 1st quarter valued at about $35,000. 74.30% of the stock is currently owned by hedge funds and other institutional investors.

Emerson Electric Stock Down 1.8 %

NYSE:EMR traded down $1.78 during mid-day trading on Friday, reaching $98.19. The stock had a trading volume of 2,780,873 shares, compared to its average volume of 2,698,155. The stock’s 50 day simple moving average is $108.69 and its two-hundred day simple moving average is $109.72. Emerson Electric Co. has a 1-year low of $83.10 and a 1-year high of $119.53. The company has a market capitalization of $56.17 billion, a price-to-earnings ratio of 5.25, a price-to-earnings-growth ratio of 1.75 and a beta of 1.30. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.16 and a quick ratio of 0.86.

Emerson Electric (NYSE:EMR) last issued its earnings results on Wednesday, August 7th. The industrial products company reported $1.43 EPS for the quarter, topping the consensus estimate of $1.42 by $0.01. The company had revenue of $4.38 billion during the quarter, compared to analyst estimates 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 was up 11.0% on a year-over-year basis. During the same quarter last year, the firm earned $1.29 EPS. Equities analysts anticipate that Emerson Electric Co. will post 5.48 EPS for the current year.

Emerson Electric Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Friday, August 16th will be issued a $0.525 dividend. This represents a $2.10 annualized dividend and a dividend yield of 2.14%. The ex-dividend date of this dividend is Friday, August 16th. Emerson Electric’s dividend payout ratio (DPR) is presently 11.24%.

Analyst Ratings Changes

Several research firms recently commented on EMR. JPMorgan Chase & Co. lowered shares of Emerson Electric from an “overweight” rating to a “neutral” rating and cut their price target for the company from $132.00 to $115.00 in a report on Wednesday, August 14th. Wells Fargo & Company reduced 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. Redburn Atlantic started coverage on Emerson Electric in a research report on Monday, July 8th. They issued a “buy” rating and a $135.00 price objective on the stock. StockNews.com downgraded Emerson Electric from a “buy” rating to a “hold” rating in a research report on Thursday, July 25th. Finally, Loop Capital raised their target price on Emerson Electric from $130.00 to $135.00 and gave the company a “buy” rating in a report on Friday, May 10th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $124.06.

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.