Emerson Electric Co. (NYSE:EMR) Stake Reduced by Canoe Financial LP

Canoe Financial LP reduced its stake in shares of Emerson Electric Co. (NYSE:EMR) by 40.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 449,611 shares of the industrial products company’s stock after selling 310,217 shares during the quarter. Emerson Electric comprises approximately 1.2% of Canoe Financial LP’s holdings, making the stock its 28th largest position. Canoe Financial LP owned 0.08% of Emerson Electric worth $49,107,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. American National Bank & Trust Co. VA bought a new position in Emerson Electric during the 1st quarter worth $1,011,000. SG Americas Securities LLC boosted its position in Emerson Electric by 183.6% during the 1st quarter. SG Americas Securities LLC now owns 81,875 shares of the industrial products company’s stock worth $9,286,000 after acquiring an additional 53,003 shares during the period. Farther Finance Advisors LLC boosted its position in Emerson Electric by 55.0% during the 2nd quarter. Farther Finance Advisors LLC now owns 8,619 shares of the industrial products company’s stock worth $931,000 after acquiring an additional 3,060 shares during the period. Norden Group LLC acquired a new position in Emerson Electric during the 1st quarter worth $4,188,000. Finally, Daiwa Securities Group Inc. boosted its position in Emerson Electric by 17.8% during the 1st quarter. Daiwa Securities Group Inc. now owns 100,029 shares of the industrial products company’s stock worth $11,345,000 after acquiring an additional 15,098 shares during the period. 74.30% of the stock is currently owned by institutional investors.

Emerson Electric Stock Down 0.1 %

NYSE:EMR opened at $108.13 on Monday. The firm has a market capitalization of $61.86 billion, a price-to-earnings ratio of 5.79, a PEG ratio of 1.68 and a beta of 1.30. Emerson Electric Co. has a 1-year low of $83.10 and a 1-year high of $119.53. 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’s fifty day moving average price is $106.19 and its 200 day moving average price is $108.96.

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

Emerson Electric Announces Dividend

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

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on EMR shares. StockNews.com lowered Emerson Electric from a “buy” rating to a “hold” rating in a research report on Thursday, July 25th. Redburn Atlantic assumed coverage on Emerson Electric in a research report on Monday, July 8th. They set a “buy” rating and a $135.00 price target for the company. Stephens lowered Emerson Electric from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $135.00 to $120.00 in a report on Wednesday, October 16th. 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 report on Thursday, August 8th. Finally, Morgan Stanley assumed coverage on Emerson Electric in a report on Friday, September 6th. They issued an “underweight” rating and a $105.00 price objective for the company. One 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’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target 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.