Cullen Investment Group LTD. Takes Position in Emerson Electric Co. (NYSE:EMR)

Cullen Investment Group LTD. acquired a new stake in Emerson Electric Co. (NYSE:EMR) during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 1,919 shares of the industrial products company’s stock, valued at approximately $210,000.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Eldred Rock Partners LLC increased its holdings in Emerson Electric by 4.3% in the third quarter. Eldred Rock Partners LLC now owns 91,072 shares of the industrial products company’s stock worth $9,961,000 after buying an additional 3,750 shares during the last quarter. Allied Investment Advisors LLC increased its stake in shares of Emerson Electric by 0.9% during the 3rd quarter. Allied Investment Advisors LLC now owns 101,054 shares of the industrial products company’s stock worth $11,052,000 after purchasing an additional 946 shares during the last quarter. Chemung Canal Trust Co. raised its holdings in shares of Emerson Electric by 14.2% during the 3rd quarter. Chemung Canal Trust Co. now owns 84,671 shares of the industrial products company’s stock valued at $9,260,000 after purchasing an additional 10,532 shares in the last quarter. Capital Market Strategies LLC lifted its stake in shares of Emerson Electric by 4.0% in the 3rd quarter. Capital Market Strategies LLC now owns 4,076 shares of the industrial products company’s stock valued at $446,000 after purchasing an additional 158 shares during the last quarter. Finally, Apella Capital LLC boosted its holdings in Emerson Electric by 14.0% in the third quarter. Apella Capital LLC now owns 4,754 shares of the industrial products company’s stock worth $525,000 after purchasing an additional 585 shares in the last quarter. 74.30% of the stock is currently owned by hedge funds and other institutional investors.

Emerson Electric Price Performance

Shares of EMR traded up $1.81 during mid-day trading on Friday, reaching $111.44. The company had a trading volume of 2,082,847 shares, compared to its average volume of 2,741,585. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.16 and a quick ratio of 0.86. The company has a market capitalization of $63.75 billion, a P/E ratio of 5.96, a P/E/G ratio of 1.74 and a beta of 1.30. Emerson Electric Co. has a twelve month low of $83.10 and a twelve month high of $119.53. The company’s 50-day moving average is $105.37 and its 200-day moving average is $109.31.

Emerson Electric (NYSE:EMR) last issued its quarterly earnings data on Wednesday, August 7th. The industrial products company reported $1.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.42 by $0.01. Emerson Electric had a return on equity of 11.41% and a net margin of 10.12%. The company had revenue of $4.38 billion during the quarter, compared to analysts’ expectations of $4.44 billion. During the same period last year, the business earned $1.29 earnings per share. The business’s revenue was up 11.0% on a year-over-year basis. On average, equities analysts anticipate that Emerson Electric Co. will post 5.48 EPS for the current year.

Emerson Electric Announces Dividend

The company also recently disclosed 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 annualized dividend and a dividend yield of 1.88%. The ex-dividend date of this dividend was Friday, August 16th. Emerson Electric’s payout ratio is 11.24%.

Analyst Ratings Changes

A number of analysts have weighed in on EMR shares. Royal Bank of Canada reduced their price target on Emerson Electric from $140.00 to $139.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. Morgan Stanley began coverage on shares of Emerson Electric in a report on Friday, September 6th. They set an “underweight” rating and a $105.00 price objective for the company. Robert W. Baird lifted their target price on shares of Emerson Electric from $116.00 to $117.00 and gave the stock a “neutral” rating in a report on Thursday, August 8th. Oppenheimer raised their price target on Emerson Electric from $120.00 to $125.00 and gave the company an “outperform” rating in a research report on Thursday, September 26th. Finally, Barclays cut their price objective on Emerson Electric from $110.00 to $103.00 and set an “equal weight” rating for the company in a research report on Thursday, August 8th. One 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, Emerson Electric presently has an average rating of “Moderate Buy” and a consensus price target of $124.59.

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.