Morningstar Investment Management LLC Sells 829 Shares of Emerson Electric Co. (NYSE:EMR)

Morningstar Investment Management LLC lowered its stake in shares of Emerson Electric Co. (NYSE:EMR) by 7.5% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 10,183 shares of the industrial products company’s stock after selling 829 shares during the quarter. Morningstar Investment Management LLC’s holdings in Emerson Electric were worth $1,122,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the stock. Wellington Management Group LLP increased its position in shares of Emerson Electric by 12.5% during the 4th quarter. Wellington Management Group LLP now owns 13,435,524 shares of the industrial products company’s stock valued at $1,307,680,000 after purchasing an additional 1,488,948 shares during the last quarter. Wells Fargo & Company MN increased its position in shares of Emerson Electric by 0.6% during the 4th quarter. Wells Fargo & Company MN now owns 10,654,285 shares of the industrial products company’s stock valued at $1,036,982,000 after purchasing an additional 62,105 shares during the last quarter. Norges Bank bought a new position in shares of Emerson Electric during the 4th quarter valued at approximately $764,604,000. First Trust Advisors LP grew its position in Emerson Electric by 219.2% in the 4th quarter. First Trust Advisors LP now owns 2,601,619 shares of the industrial products company’s stock valued at $253,216,000 after acquiring an additional 1,786,583 shares during the last quarter. Finally, Van ECK Associates Corp increased its stake 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. Institutional investors own 74.30% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Oppenheimer reduced their target price on Emerson Electric from $125.00 to $120.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. StockNews.com lowered Emerson Electric from a “buy” rating to a “hold” rating in a research note on Thursday, July 25th. Morgan Stanley assumed coverage on Emerson Electric in a research note on Friday, September 6th. They issued an “underweight” rating and a $105.00 target price on the stock. Royal Bank of Canada reduced their target price on Emerson Electric from $140.00 to $139.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. Finally, JPMorgan Chase & Co. downgraded Emerson Electric from an “overweight” rating to a “neutral” rating and dropped their price target for the stock from $132.00 to $115.00 in a research report on Wednesday, August 14th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $124.06.

Emerson Electric Price Performance

Shares of NYSE EMR opened at $101.47 on Friday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.86 and a current ratio of 1.16. The company has a market cap of $58.11 billion, a PE ratio of 5.43, a P/E/G ratio of 1.66 and a beta of 1.30. The business has a 50-day simple moving average of $107.96 and a two-hundred day simple moving average of $109.58. Emerson Electric Co. has a fifty-two week low of $83.10 and a fifty-two week high of $119.53.

Emerson Electric (NYSE:EMR) last issued its quarterly earnings results on Wednesday, August 7th. The industrial products company reported $1.43 earnings per share for the quarter, topping the consensus estimate of $1.42 by $0.01. The business 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 company’s quarterly revenue was up 11.0% on a year-over-year basis. During the same quarter last year, the company earned $1.29 earnings per share. As a group, equities analysts expect that Emerson Electric Co. will post 5.48 EPS for the current fiscal year.

Emerson Electric Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Friday, August 16th were issued a $0.525 dividend. This represents a $2.10 annualized dividend and a yield of 2.07%. The ex-dividend date was Friday, August 16th. Emerson Electric’s dividend payout ratio is presently 11.24%.

About Emerson Electric

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.