Carnegie Investment Counsel Has $10.13 Million Holdings in Emerson Electric Co. (NYSE:EMR)

Carnegie Investment Counsel raised its holdings in shares of Emerson Electric Co. (NYSE:EMR) by 23.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 92,582 shares of the industrial products company’s stock after buying an additional 17,797 shares during the quarter. Carnegie Investment Counsel’s holdings in Emerson Electric were worth $10,126,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. Wellington Management Group LLP lifted its holdings in shares of Emerson Electric by 12.5% during the fourth quarter. Wellington Management Group LLP now owns 13,435,524 shares of the industrial products company’s stock worth $1,307,680,000 after buying an additional 1,488,948 shares during the last quarter. Newport Trust Company LLC acquired a new position in shares of Emerson Electric in the second quarter valued at $574,908,000. Legal & General Group Plc lifted its position in 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 purchasing an additional 224,784 shares during the period. Dimensional Fund Advisors LP lifted its position in Emerson Electric by 17.7% in 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 purchasing an additional 355,106 shares during the period. Finally, Van ECK Associates Corp lifted its position in Emerson Electric by 6.8% in the first quarter. Van ECK Associates Corp now owns 2,106,958 shares of the industrial products company’s stock worth $238,971,000 after purchasing an additional 134,865 shares during the period. 74.30% of the stock is currently owned by institutional investors and hedge funds.

Emerson Electric Price Performance

Shares of EMR stock opened at $112.06 on Friday. Emerson Electric Co. has a 1 year low of $83.10 and a 1 year high of $119.53. The firm’s 50 day moving average is $105.03 and its 200-day moving average is $109.27. The firm has a market capitalization of $64.11 billion, a price-to-earnings ratio of 6.00, a PEG ratio of 1.70 and a beta of 1.30. The company has a current ratio of 1.16, a quick ratio of 0.86 and a debt-to-equity ratio of 0.27.

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 analysts’ consensus estimates of $1.42 by $0.01. The company had revenue of $4.38 billion for the quarter, compared to analyst estimates of $4.44 billion. Emerson Electric had a net margin of 10.12% and a return on equity of 11.41%. Emerson Electric’s quarterly revenue was up 11.0% on a year-over-year basis. During the same period in the prior year, the business earned $1.29 earnings per share. Sell-side analysts forecast that Emerson Electric Co. will post 5.48 EPS for the current fiscal year.

Emerson Electric Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Friday, August 16th were paid a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a dividend yield of 1.87%. The ex-dividend date of this dividend was Friday, August 16th. Emerson Electric’s dividend payout ratio (DPR) is 11.24%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on EMR. Robert W. Baird lifted their target price on shares of Emerson Electric from $116.00 to $117.00 and gave the company a “neutral” rating in a research report on Thursday, August 8th. StockNews.com lowered shares of Emerson Electric from a “buy” rating to a “hold” rating in a research report on Thursday, July 25th. JPMorgan Chase & Co. lowered shares of Emerson Electric from an “overweight” rating to a “neutral” rating and decreased their target price for the company from $132.00 to $115.00 in a research report on Wednesday, August 14th. Barclays decreased their target price on shares of Emerson Electric from $110.00 to $103.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 8th. Finally, Redburn Atlantic began coverage on shares of Emerson Electric in a research report on Monday, July 8th. They set a “buy” rating and a $135.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average 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.