Cary Street Partners Asset Management LLC Sells 151 Shares of Emerson Electric Co. (NYSE:EMR)

Cary Street Partners Asset Management LLC trimmed its position in Emerson Electric Co. (NYSE:EMR) by 5.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,497 shares of the industrial products company’s stock after selling 151 shares during the quarter. Cary Street Partners Asset Management LLC’s holdings in Emerson Electric were worth $273,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Norden Group LLC bought a new stake in Emerson Electric during the first quarter valued at about $231,000. Mediolanum International Funds Ltd bought a new stake in Emerson Electric during the 1st quarter valued at approximately $398,000. Signaturefd LLC boosted its stake in Emerson Electric by 6.9% in the 1st quarter. Signaturefd LLC now owns 12,121 shares of the industrial products company’s stock worth $1,375,000 after purchasing an additional 780 shares during the period. Blue Square Asset Management LLC raised its position in shares of Emerson Electric by 15.6% during the first quarter. Blue Square Asset Management LLC now owns 18,398 shares of the industrial products company’s stock valued at $2,087,000 after buying an additional 2,489 shares during the last quarter. Finally, Texas Permanent School Fund Corp boosted its position in shares of Emerson Electric by 0.4% during the first quarter. Texas Permanent School Fund Corp now owns 118,175 shares of the industrial products company’s stock worth $13,403,000 after acquiring an additional 467 shares during the last quarter. Institutional investors own 74.30% of the company’s stock.

Emerson Electric Stock Performance

Shares of EMR stock opened at $117.67 on Wednesday. The company has a quick ratio of 0.86, a current ratio of 1.16 and a debt-to-equity ratio of 0.27. The firm has a market cap of $67.39 billion, a price-to-earnings ratio of 39.49, a PEG ratio of 1.66 and a beta of 1.30. The company’s 50 day moving average is $107.04 and its 200 day moving average is $108.92. Emerson Electric Co. has a 52-week low of $83.10 and a 52-week high of $119.61.

Emerson Electric (NYSE:EMR) last issued its quarterly earnings data on Wednesday, August 7th. The industrial products company reported $1.43 earnings per share for the quarter, beating analysts’ consensus estimates of $1.42 by $0.01. The company 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 firm’s revenue for the quarter was up 11.0% compared to the same quarter last year. During the same quarter last year, the company earned $1.29 earnings per share. On average, sell-side analysts anticipate that Emerson Electric Co. will post 5.48 EPS for the current fiscal year.

Emerson Electric Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Friday, November 15th will be paid a dividend of $0.5275 per share. This represents a $2.11 annualized dividend and a dividend yield of 1.79%. The ex-dividend date of this dividend is Friday, November 15th. This is a positive change from Emerson Electric’s previous quarterly dividend of $0.53. Emerson Electric’s payout ratio is 70.47%.

Analyst Upgrades and Downgrades

Several research firms have commented on EMR. JPMorgan Chase & Co. downgraded shares of Emerson Electric from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $132.00 to $115.00 in a report on Wednesday, August 14th. Robert W. Baird lifted their price objective on Emerson Electric from $117.00 to $118.00 and gave the stock a “neutral” rating in a research note on Monday. Oppenheimer raised their target price on shares of Emerson Electric from $120.00 to $125.00 and gave the company an “outperform” rating in a report on Thursday, September 26th. Royal Bank of Canada decreased their price objective on Emerson Electric from $140.00 to $139.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. Finally, Stephens lowered shares of Emerson Electric from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $135.00 to $120.00 in a report on Wednesday, October 16th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and eleven have issued 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 target price of $125.53.

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.