Patrick M Sweeney & Associates Inc. Has $577,000 Position in Emerson Electric Co. (NYSE:EMR)

Patrick M Sweeney & Associates Inc. grew its position in Emerson Electric Co. (NYSE:EMR) by 5.6% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,275 shares of the industrial products company’s stock after purchasing an additional 282 shares during the quarter. Patrick M Sweeney & Associates Inc.’s holdings in Emerson Electric were worth $577,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of EMR. Newport Trust Company LLC acquired a new position in Emerson Electric during the 2nd quarter worth $574,908,000. 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 worth $278,285,000 after purchasing an additional 1,424,800 shares during the last quarter. Perpetual Ltd boosted its stake in Emerson Electric by 57,336.1% during the 3rd quarter. Perpetual Ltd now owns 1,206,158 shares of the industrial products company’s stock valued at $131,918,000 after purchasing an additional 1,204,058 shares during the period. Clean Energy Transition LLP grew its holdings in Emerson Electric by 110.7% in the 1st quarter. Clean Energy Transition LLP now owns 1,885,183 shares of the industrial products company’s stock valued at $213,817,000 after buying an additional 990,615 shares during the last quarter. Finally, Sarasin & Partners LLP bought a new position in Emerson Electric in the 3rd quarter worth approximately $87,551,000. 74.30% of the stock is currently owned by institutional investors and hedge funds.

Emerson Electric Trading Down 0.9 %

Shares of Emerson Electric stock opened at $108.51 on Thursday. The stock has a market capitalization of $62.08 billion, a P/E ratio of 5.81, a price-to-earnings-growth ratio of 1.70 and a beta of 1.30. Emerson Electric Co. has a 12-month low of $83.10 and a 12-month high of $119.53. The company has a quick ratio of 0.86, a current ratio of 1.16 and a debt-to-equity ratio of 0.27. The company has a 50-day simple moving average of $106.01 and a 200 day simple moving average of $109.09.

Emerson Electric (NYSE:EMR) last posted its earnings results 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. The company had revenue of $4.38 billion during the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.29 earnings per share. Research 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. Stockholders of record on Friday, August 16th were paid a $0.525 dividend. The ex-dividend date was Friday, August 16th. This represents a $2.10 dividend on an annualized basis and a dividend yield of 1.94%. Emerson Electric’s dividend payout ratio (DPR) is presently 11.24%.

Wall Street Analyst Weigh In

EMR has been the topic of several research analyst reports. Royal Bank of Canada lowered their price objective on shares of Emerson Electric from $140.00 to $139.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. Redburn Atlantic started coverage on shares of Emerson Electric in a research report on Monday, July 8th. They issued a “buy” rating and a $135.00 price target on the stock. Barclays cut their price objective 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. downgraded Emerson Electric from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $132.00 to $115.00 in a research report on Wednesday, August 14th. Finally, Stephens cut Emerson Electric from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $135.00 to $120.00 in a report on Wednesday, October 16th. One analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, Emerson Electric currently has a consensus rating of “Moderate Buy” and a consensus target price of $125.47.

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.