Emerson Electric Co. (NYSE:EMR) Stock Position Raised by Cornerstone Capital Inc.

Cornerstone Capital Inc. boosted its holdings in shares of Emerson Electric Co. (NYSE:EMR) by 6.4% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 3,814 shares of the industrial products company’s stock after acquiring an additional 231 shares during the quarter. Cornerstone Capital Inc.’s holdings in Emerson Electric were worth $417,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Newport Trust Company LLC acquired a new stake in shares of Emerson Electric in the second quarter worth about $574,908,000. Legal & General Group Plc boosted its position in Emerson Electric by 5.2% during 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 purchasing an additional 224,784 shares during the period. Van ECK Associates Corp grew its holdings in Emerson Electric by 107.2% during the third quarter. Van ECK Associates Corp now owns 3,896,889 shares of the industrial products company’s stock valued at $422,852,000 after purchasing an additional 2,016,075 shares during the last quarter. DekaBank Deutsche Girozentrale lifted its stake in shares of Emerson Electric by 3.3% in the third quarter. DekaBank Deutsche Girozentrale now owns 2,738,701 shares of the industrial products company’s stock worth $297,653,000 after buying an additional 88,294 shares during the last quarter. Finally, Swedbank AB boosted its holdings 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 worth $278,285,000 after buying an additional 1,424,800 shares during the period. Institutional investors own 74.30% of the company’s stock.

Emerson Electric Price Performance

Shares of EMR traded up $8.46 during mid-day trading on Tuesday, hitting $118.27. 2,323,438 shares of the company traded hands, compared to its average volume of 2,683,999. The company has a current ratio of 1.16, a quick ratio of 0.86 and a debt-to-equity ratio of 0.27. The business has a 50-day moving average of $106.76 and a 200 day moving average of $108.86. Emerson Electric Co. has a one year low of $83.10 and a one year high of $119.61. The stock has a market capitalization of $67.73 billion, a price-to-earnings ratio of 40.07, a PEG ratio of 1.66 and a beta of 1.30.

Emerson Electric (NYSE:EMR) last released its earnings results on Wednesday, August 7th. The industrial products company reported $1.43 earnings per share for the quarter, topping analysts’ consensus estimates of $1.42 by $0.01. The company had revenue of $4.38 billion during the quarter, compared to the consensus estimate of $4.44 billion. Emerson Electric had a return on equity of 11.41% and a net margin of 10.12%. The firm’s quarterly revenue was up 11.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.29 earnings per share. As a group, equities analysts expect that Emerson Electric Co. will post 5.48 earnings per share for the current fiscal year.

Emerson Electric Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders 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 yield of 1.78%. The ex-dividend date was Friday, August 16th. Emerson Electric’s dividend payout ratio is presently 70.47%.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. Robert W. Baird lifted their price objective on Emerson Electric from $117.00 to $118.00 and gave the stock a “neutral” rating in a research note on Monday. Morgan Stanley assumed coverage on shares of Emerson Electric in a research note on Friday, September 6th. They issued an “underweight” rating and a $105.00 price objective on the stock. Oppenheimer increased their price target on shares of Emerson Electric from $120.00 to $125.00 and gave the company an “outperform” rating in a report on Thursday, September 26th. Royal Bank of Canada reduced their target price on shares of Emerson Electric from $140.00 to $139.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. Finally, Barclays cut their price target on Emerson Electric from $110.00 to $103.00 and set an “equal weight” rating for the company in a report on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $125.53.

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.