Clear Harbor Asset Management LLC Buys 815 Shares of Emerson Electric Co. (NYSE:EMR)

Clear Harbor Asset Management LLC lifted its stake in shares of Emerson Electric Co. (NYSE:EMR) by 6.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 14,512 shares of the industrial products company’s stock after acquiring an additional 815 shares during the quarter. Clear Harbor Asset Management LLC’s holdings in Emerson Electric were worth $1,587,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in EMR. Transcendent Capital Group LLC purchased a new position in shares of Emerson Electric during the 1st quarter valued at $31,000. Meeder Asset Management Inc. boosted its stake in shares of Emerson Electric by 361.5% in the second quarter. Meeder Asset Management Inc. now owns 300 shares of the industrial products company’s stock worth $33,000 after acquiring an additional 235 shares during the period. Tributary Capital Management LLC purchased a new stake in shares of Emerson Electric during the first quarter worth about $35,000. Versant Capital Management Inc raised its stake in Emerson Electric by 471.9% during the 2nd quarter. Versant Capital Management Inc now owns 326 shares of the industrial products company’s stock valued at $36,000 after purchasing an additional 269 shares during the period. Finally, Matrix Trust Co purchased a new position in Emerson Electric in the 3rd quarter worth approximately $44,000. 74.30% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Robert W. Baird upped their target price 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. 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. Stephens cut 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. StockNews.com lowered Emerson Electric from a “buy” rating to a “hold” rating in a research note on Thursday, July 25th. Finally, Morgan Stanley began coverage on Emerson Electric in a research note on Friday, September 6th. They issued an “underweight” rating and a $105.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Emerson Electric currently has a consensus rating of “Moderate Buy” and an average target price of $125.47.

Emerson Electric Stock Performance

Shares of NYSE:EMR opened at $108.13 on Friday. 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 $61.93 billion, a price-to-earnings ratio of 36.29, 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 $106.19 and its 200 day moving average is $109.00.

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. Emerson Electric had a return on equity of 11.41% and a net margin of 10.12%. The firm had revenue of $4.38 billion for the quarter, compared to the consensus estimate of $4.44 billion. During the same period in the prior year, the business posted $1.29 earnings per share. The company’s revenue for the quarter was up 11.0% on a year-over-year basis. Research analysts predict that Emerson Electric Co. will post 5.48 EPS for the current year.

Emerson Electric Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Friday, August 16th were paid a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a dividend yield of 1.94%. The ex-dividend date of this dividend was Friday, August 16th. Emerson Electric’s dividend payout ratio is currently 70.47%.

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.