Cullinan Associates Inc. Reduces Holdings in Emerson Electric Co. (NYSE:EMR)

Cullinan Associates Inc. cut its holdings in Emerson Electric Co. (NYSE:EMR) by 10.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 93,513 shares of the industrial products company’s stock after selling 11,389 shares during the period. Cullinan Associates Inc.’s holdings in Emerson Electric were worth $10,281,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Newport Trust Company LLC purchased a new position in Emerson Electric during the second quarter valued at $574,908,000. Legal & General Group Plc raised its stake in shares of Emerson Electric by 5.2% in the second quarter. Legal & General Group Plc now owns 4,510,496 shares of the industrial products company’s stock worth $496,877,000 after buying an additional 224,784 shares during the period. Swedbank AB lifted its position in shares of 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. Dimensional Fund Advisors LP grew its stake in shares of Emerson Electric by 17.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,358,796 shares of the industrial products company’s stock valued at $259,809,000 after acquiring an additional 355,106 shares during the period. Finally, Van ECK Associates Corp increased its holdings in 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. Hedge funds and other institutional investors own 74.30% of the company’s stock.

Emerson Electric Price Performance

EMR stock traded up $0.23 during trading on Friday, hitting $108.49. 141,695 shares of the company’s stock traded hands, compared to its average volume of 2,685,943. The stock has a market capitalization of $62.07 billion, a price-to-earnings ratio of 5.79, a P/E/G ratio of 1.70 and a beta of 1.30. Emerson Electric Co. has a 52 week low of $83.10 and a 52 week high of $119.53. 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 business has a fifty day simple moving average of $106.01 and a 200 day simple moving average of $109.09.

Emerson Electric (NYSE:EMR) last announced its earnings results on Wednesday, August 7th. The industrial products company reported $1.43 EPS for the quarter, topping 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 firm had revenue of $4.38 billion during the quarter, compared to analysts’ expectations of $4.44 billion. During the same quarter in the previous year, the business earned $1.29 EPS. The company’s quarterly revenue was up 11.0% on a year-over-year basis. As a group, research analysts expect that Emerson Electric Co. will post 5.48 EPS for the current fiscal year.

Emerson Electric Dividend Announcement

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

Wall Street Analysts Forecast Growth

EMR has been the subject of a number of recent analyst reports. Barclays dropped their price target on shares of 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. JPMorgan Chase & Co. lowered Emerson Electric from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $132.00 to $115.00 in a research note on Wednesday, August 14th. StockNews.com cut Emerson Electric from a “buy” rating to a “hold” rating in a report on Thursday, July 25th. Redburn Atlantic assumed coverage on Emerson Electric in a research note on Monday, July 8th. They issued a “buy” rating and a $135.00 price objective for the company. Finally, Oppenheimer lifted 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. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $125.47.

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.