Patten Group Inc. Purchases 2,607 Shares of Emerson Electric Co. (NYSE:EMR)

Patten Group Inc. increased its holdings in shares of Emerson Electric Co. (NYSE:EMR) by 10.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 26,451 shares of the industrial products company’s stock after acquiring an additional 2,607 shares during the quarter. Patten Group Inc.’s holdings in Emerson Electric were worth $2,893,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Wellington Management Group LLP boosted its position in shares of Emerson Electric by 12.5% during the 4th quarter. Wellington Management Group LLP now owns 13,435,524 shares of the industrial products company’s stock worth $1,307,680,000 after acquiring an additional 1,488,948 shares in the last quarter. Newport Trust Company LLC acquired a new position in Emerson Electric in the 2nd quarter valued at approximately $574,908,000. Legal & General Group Plc grew its position in shares of Emerson Electric by 5.2% in the 2nd quarter. Legal & General Group Plc now owns 4,510,496 shares of the industrial products company’s stock valued at $496,877,000 after buying an additional 224,784 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in Emerson Electric by 17.7% during the second quarter. Dimensional Fund Advisors LP now owns 2,358,796 shares of the industrial products company’s stock worth $259,809,000 after buying an additional 355,106 shares during the last quarter. Finally, Van ECK Associates Corp raised its position in shares of Emerson Electric by 6.8% in the 1st quarter. Van ECK Associates Corp now owns 2,106,958 shares of the industrial products company’s stock worth $238,971,000 after acquiring an additional 134,865 shares in the last quarter. 74.30% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts have recently commented on the company. Oppenheimer raised their target price on Emerson Electric from $120.00 to $125.00 and gave the company an “outperform” rating in a research note on Thursday, September 26th. Redburn Atlantic began 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. Morgan Stanley started 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. JPMorgan Chase & Co. lowered shares of Emerson Electric from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $132.00 to $115.00 in a research report on Wednesday, August 14th. Finally, Robert W. Baird raised their target price on Emerson Electric from $116.00 to $117.00 and gave the stock a “neutral” rating in a research note on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $124.59.

Emerson Electric Price Performance

NYSE EMR opened at $110.88 on Thursday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.86 and a current ratio of 1.16. The company has a market capitalization of $63.43 billion, a price-to-earnings ratio of 5.93, a PEG ratio of 1.74 and a beta of 1.30. The stock has a 50-day moving average of $105.14 and a 200 day moving average of $109.27. Emerson Electric Co. has a one year low of $83.10 and a one year high of $119.53.

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. Emerson Electric had a net margin of 10.12% and a return on equity of 11.41%. The company had revenue of $4.38 billion for the quarter, compared to the consensus estimate of $4.44 billion. During the same quarter in the prior year, the firm earned $1.29 earnings per share. The firm’s revenue for the quarter was up 11.0% compared to the same quarter last year. On average, sell-side analysts forecast that Emerson Electric Co. will post 5.48 EPS for the current year.

Emerson Electric Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Friday, August 16th were issued a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a yield of 1.89%. The ex-dividend date was Friday, August 16th. Emerson Electric’s dividend payout ratio is 11.24%.

Emerson Electric 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.