Emerson Electric Co. (NYSE:EMR) Shares Sold by Cornercap Investment Counsel Inc.

Cornercap Investment Counsel Inc. decreased its stake in Emerson Electric Co. (NYSE:EMR) by 11.2% during the 2nd quarter, Holdings Channel reports. The firm owned 26,069 shares of the industrial products company’s stock after selling 3,299 shares during the quarter. Emerson Electric makes up approximately 0.5% of Cornercap Investment Counsel Inc.’s investment portfolio, making the stock its 24th largest position. Cornercap Investment Counsel Inc.’s holdings in Emerson Electric were worth $2,872,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of the stock. Linscomb Wealth Inc. grew its position in shares of Emerson Electric by 4.2% in the second quarter. Linscomb Wealth Inc. now owns 34,534 shares of the industrial products company’s stock valued at $3,804,000 after purchasing an additional 1,391 shares during the period. Hazlett Burt & Watson Inc. grew its position in shares of Emerson Electric by 192.7% in the second quarter. Hazlett Burt & Watson Inc. now owns 8,160 shares of the industrial products company’s stock valued at $899,000 after purchasing an additional 5,372 shares during the period. Trifecta Capital Advisors LLC grew its position in shares of Emerson Electric by 846.8% in the second quarter. Trifecta Capital Advisors LLC now owns 1,174 shares of the industrial products company’s stock valued at $129,000 after purchasing an additional 1,050 shares during the period. Wellington Shields & Co. LLC lifted its stake in shares of Emerson Electric by 21.4% in the second quarter. Wellington Shields & Co. LLC now owns 4,798 shares of the industrial products company’s stock worth $529,000 after buying an additional 847 shares in the last quarter. Finally, LPL Financial LLC lifted its stake in shares of Emerson Electric by 2.3% in the second quarter. LPL Financial LLC now owns 806,666 shares of the industrial products company’s stock worth $88,862,000 after buying an additional 17,820 shares in the last quarter. Institutional investors and hedge funds own 74.30% of the company’s stock.

Emerson Electric Price Performance

Emerson Electric stock opened at $99.90 on Thursday. The company’s 50 day simple moving average is $108.12 and its 200-day simple moving average is $109.64. The company has a market capitalization of $57.15 billion, a price-to-earnings ratio of 5.35, a price-to-earnings-growth ratio of 1.63 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 debt-to-equity ratio of 0.27, a quick ratio of 0.86 and a current ratio of 1.16.

Emerson Electric (NYSE:EMR) last released its quarterly 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 business had revenue of $4.38 billion for the quarter, compared to the consensus estimate of $4.44 billion. Emerson Electric had a net margin of 10.12% and a return on equity of 11.41%. The business’s revenue was up 11.0% on a year-over-year basis. During the same period in the previous year, the firm earned $1.29 EPS. As a group, equities research analysts expect that Emerson Electric Co. will post 5.48 earnings per share for the current year.

Emerson Electric Dividend Announcement

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

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Oppenheimer decreased their price target on shares of Emerson Electric from $125.00 to $120.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. Robert W. Baird raised their price target on shares of Emerson Electric from $116.00 to $117.00 and gave the stock a “neutral” rating in a research note on Thursday, August 8th. Royal Bank of Canada decreased their price target 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 assumed coverage on shares of Emerson Electric in a research note on Monday, July 8th. They issued a “buy” rating and a $135.00 price target on the stock. Finally, Morgan Stanley assumed coverage on shares of Emerson Electric in a research note on Friday, September 6th. They set an “underweight” rating and a $105.00 target price on the stock. One analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $124.06.

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.