Harbour Trust & Investment Management Co Sells 884 Shares of Emerson Electric Co. (NYSE:EMR)

Harbour Trust & Investment Management Co lessened its position in shares of Emerson Electric Co. (NYSE:EMR) by 3.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 24,730 shares of the industrial products company’s stock after selling 884 shares during the quarter. Harbour Trust & Investment Management Co’s holdings in Emerson Electric were worth $2,705,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of EMR. Newport Trust Company LLC purchased a new stake in shares of Emerson Electric during the 2nd quarter valued at $574,908,000. Swedbank AB increased its position in Emerson Electric by 127.3% during the 3rd quarter. Swedbank AB now owns 2,544,439 shares of the industrial products company’s stock valued at $278,285,000 after buying an additional 1,424,800 shares in the last quarter. Perpetual Ltd boosted its holdings in Emerson Electric by 57,336.1% in the third quarter. Perpetual Ltd now owns 1,206,158 shares of the industrial products company’s stock worth $131,918,000 after acquiring an additional 1,204,058 shares in the last quarter. Clean Energy Transition LLP grew its stake in shares of Emerson Electric by 110.7% during the first quarter. Clean Energy Transition LLP now owns 1,885,183 shares of the industrial products company’s stock worth $213,817,000 after acquiring an additional 990,615 shares during the last quarter. Finally, Sarasin & Partners LLP acquired a new position in shares of Emerson Electric during the third quarter valued at about $87,551,000. Hedge funds and other institutional investors own 74.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on EMR shares. Royal Bank of Canada dropped their target price on shares of Emerson Electric from $140.00 to $139.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. Stephens lowered shares of Emerson Electric from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $135.00 to $120.00 in a report on Wednesday, October 16th. Morgan Stanley began coverage on Emerson Electric in a research report on Friday, September 6th. They set an “underweight” rating and a $105.00 price target for the company. JPMorgan Chase & Co. lowered Emerson Electric from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $132.00 to $115.00 in a report on Wednesday, August 14th. Finally, Robert W. Baird lifted their target price on Emerson Electric from $116.00 to $117.00 and gave the stock a “neutral” rating in a report on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $125.47.

Emerson Electric Trading Down 0.2 %

EMR stock opened at $108.24 on Friday. The company has a quick ratio of 0.86, a current ratio of 1.16 and a debt-to-equity ratio of 0.27. Emerson Electric Co. has a 52-week low of $83.10 and a 52-week high of $119.53. The company’s 50-day simple moving average is $106.01 and its 200-day simple moving average is $109.09. The firm has a market cap of $61.92 billion, a P/E ratio of 5.79, a PEG ratio of 1.70 and a beta of 1.30.

Emerson Electric (NYSE:EMR) last issued its quarterly earnings data on Wednesday, August 7th. The industrial products company reported $1.43 EPS 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 analyst estimates of $4.44 billion. Emerson Electric had a return on equity of 11.41% and a net margin of 10.12%. Emerson Electric’s quarterly revenue was up 11.0% compared to the same quarter last year. During the same period last year, the company earned $1.29 earnings per share. As a group, equities analysts forecast that Emerson Electric Co. will post 5.48 EPS for the current fiscal year.

Emerson Electric Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Friday, August 16th were given a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a yield of 1.94%. The ex-dividend date was Friday, August 16th. Emerson Electric’s dividend payout ratio is presently 11.24%.

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.