Grimes & Company Inc. Has $2.81 Million Holdings in Emerson Electric Co. (NYSE:EMR)

Grimes & Company Inc. lessened its holdings in Emerson Electric Co. (NYSE:EMR) by 3.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 24,798 shares of the industrial products company’s stock after selling 839 shares during the period. Grimes & Company Inc.’s holdings in Emerson Electric were worth $2,813,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Harbour Capital Advisors LLC lifted its position in Emerson Electric by 1.7% during the first quarter. Harbour Capital Advisors LLC now owns 6,136 shares of the industrial products company’s stock valued at $695,000 after purchasing an additional 100 shares during the last quarter. Financial Advocates Investment Management lifted its position in Emerson Electric by 1.0% during the fourth quarter. Financial Advocates Investment Management now owns 10,208 shares of the industrial products company’s stock valued at $994,000 after purchasing an additional 101 shares during the last quarter. Stonehearth Capital Management LLC lifted its position in Emerson Electric by 3.3% during the first quarter. Stonehearth Capital Management LLC now owns 3,320 shares of the industrial products company’s stock valued at $377,000 after purchasing an additional 107 shares during the last quarter. PFG Advisors lifted its position in Emerson Electric by 4.5% during the fourth quarter. PFG Advisors now owns 2,495 shares of the industrial products company’s stock valued at $243,000 after purchasing an additional 108 shares during the last quarter. Finally, Ballentine Partners LLC lifted its holdings in shares of Emerson Electric by 0.7% in the 1st quarter. Ballentine Partners LLC now owns 14,647 shares of the industrial products company’s stock worth $1,661,000 after acquiring an additional 108 shares during the last quarter. Institutional investors and hedge funds own 74.30% of the company’s stock.

Emerson Electric Stock Up 1.7 %

Shares of Emerson Electric stock opened at $110.16 on Friday. The firm’s 50 day moving average price is $110.00 and its 200-day moving average price is $105.70. The company has a market cap of $63.02 billion, a P/E ratio of 5.89, a PEG ratio of 1.84 and a beta of 1.33. The company has a quick ratio of 0.87, a current ratio of 1.18 and a debt-to-equity ratio of 0.28. Emerson Electric Co. has a 52-week low of $83.10 and a 52-week high of $116.76.

Emerson Electric (NYSE:EMR) last released its earnings results on Wednesday, May 8th. The industrial products company reported $1.36 EPS for the quarter, topping analysts’ consensus estimates of $1.25 by $0.11. The company had revenue of $4.38 billion during the quarter, compared to analysts’ expectations of $4.29 billion. Emerson Electric had a net margin of 64.97% and a return on equity of 11.14%. Emerson Electric’s revenue for the quarter was up 16.5% on a year-over-year basis. During the same period last year, the business earned $1.09 EPS. On average, sell-side analysts predict that Emerson Electric Co. will post 5.47 EPS for the current fiscal year.

Emerson Electric Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Friday, May 17th were paid a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a yield of 1.91%. The ex-dividend date of this dividend was Thursday, May 16th. Emerson Electric’s dividend payout ratio (DPR) is presently 11.24%.

Wall Street Analysts Forecast Growth

EMR has been the subject of several analyst reports. Barclays raised their target price on shares of Emerson Electric from $105.00 to $110.00 and gave the stock an “equal weight” rating in a report on Friday, May 10th. Robert W. Baird decreased their price objective on shares of Emerson Electric from $120.00 to $116.00 and set a “neutral” rating for the company in a report on Thursday, May 9th. StockNews.com downgraded shares of Emerson Electric from a “buy” rating to a “hold” rating in a research report on Friday, May 17th. Mizuho raised their target price on shares of Emerson Electric from $130.00 to $135.00 and gave the company a “buy” rating in a research report on Thursday, May 9th. Finally, Loop Capital raised their target price on shares of Emerson Electric from $130.00 to $135.00 and gave the company a “buy” rating in a research report on Friday, May 10th. Four analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Emerson Electric currently has a consensus rating of “Moderate Buy” and an average price target of $122.76.

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.