ProVise Management Group LLC Sells 200 Shares of Emerson Electric Co. (NYSE:EMR)

ProVise Management Group LLC lowered its stake in shares of Emerson Electric Co. (NYSE:EMR) by 2.0% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 9,650 shares of the industrial products company’s stock after selling 200 shares during the quarter. ProVise Management Group LLC’s holdings in Emerson Electric were worth $1,063,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in EMR. American National Bank & Trust Co. VA purchased a new position in shares of Emerson Electric in the 1st quarter worth about $1,011,000. Exencial Wealth Advisors LLC boosted its stake in Emerson Electric by 17.6% in the fourth quarter. Exencial Wealth Advisors LLC now owns 49,112 shares of the industrial products company’s stock worth $4,780,000 after buying an additional 7,358 shares in the last quarter. SG Americas Securities LLC grew its position in Emerson Electric by 183.6% during the first quarter. SG Americas Securities LLC now owns 81,875 shares of the industrial products company’s stock valued at $9,286,000 after acquiring an additional 53,003 shares during the last quarter. Lloyd Advisory Services LLC. bought a new stake in shares of Emerson Electric in the 1st quarter worth approximately $1,047,000. Finally, Farther Finance Advisors LLC boosted its stake in shares of Emerson Electric by 55.0% in the 2nd quarter. Farther Finance Advisors LLC now owns 8,619 shares of the industrial products company’s stock valued at $931,000 after purchasing an additional 3,060 shares in the last quarter. 74.30% of the stock is owned by institutional investors.

Analysts Set New Price Targets

EMR has been the subject of several recent research reports. Oppenheimer lowered their price target on shares of Emerson Electric from $125.00 to $120.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. Robert W. Baird boosted their target price on Emerson Electric from $116.00 to $117.00 and gave the company a “neutral” rating in a research note on Thursday, August 8th. Royal Bank of Canada reduced their price target 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. Morgan Stanley began coverage on Emerson Electric in a research report on Friday, September 6th. They issued an “underweight” rating and a $105.00 price objective for the company. Finally, Wells Fargo & Company cut their target price on shares of Emerson Electric from $137.00 to $128.00 and set an “overweight” rating on the stock in a report on Thursday, August 8th. One analyst has rated the stock with a sell rating, five have issued a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $124.29.

Emerson Electric Price Performance

Shares of NYSE EMR opened at $105.93 on Friday. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.16 and a quick ratio of 0.86. Emerson Electric Co. has a 1 year low of $83.10 and a 1 year high of $119.53. The company’s 50-day moving average is $107.23 and its 200 day moving average is $109.47. The stock has a market capitalization of $60.60 billion, a P/E ratio of 5.67, a P/E/G ratio of 1.66 and a beta of 1.30.

Emerson Electric (NYSE:EMR) last announced its earnings results on Wednesday, August 7th. The industrial products company reported $1.43 earnings per share (EPS) 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 during the quarter, compared to analyst estimates of $4.44 billion. During the same quarter in the prior year, the company earned $1.29 EPS. The business’s revenue was up 11.0% compared to the same quarter last year. On average, sell-side analysts expect that Emerson Electric Co. will post 5.48 earnings per share for the current year.

Emerson Electric Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Friday, August 16th were issued a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a dividend yield of 1.98%. The ex-dividend date was Friday, August 16th. Emerson Electric’s dividend payout ratio (DPR) is presently 11.24%.

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.