Traynor Capital Management Inc. Acquires New Holdings in Emerson Electric Co. (NYSE:EMR)

Traynor Capital Management Inc. bought a new stake in Emerson Electric Co. (NYSE:EMR) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 2,014 shares of the industrial products company’s stock, valued at approximately $220,000.

A number of other large investors have also recently made changes to their positions in EMR. SFE Investment Counsel raised its stake in shares of Emerson Electric by 13.1% in the third quarter. SFE Investment Counsel now owns 5,775 shares of the industrial products company’s stock worth $632,000 after purchasing an additional 667 shares during the last quarter. Pallas Capital Advisors LLC raised its stake in shares of Emerson Electric by 5.5% in the third quarter. Pallas Capital Advisors LLC now owns 78,654 shares of the industrial products company’s stock worth $8,515,000 after purchasing an additional 4,128 shares during the last quarter. Orrstown Financial Services Inc. purchased a new position in shares of Emerson Electric in the third quarter worth about $202,000. Morton Brown Family Wealth LLC purchased a new position in shares of Emerson Electric in the third quarter worth about $33,000. Finally, Patriot Financial Group Insurance Agency LLC raised its stake in shares of Emerson Electric by 62.3% in the third quarter. Patriot Financial Group Insurance Agency LLC now owns 6,767 shares of the industrial products company’s stock worth $740,000 after purchasing an additional 2,597 shares during the last quarter. 74.30% of the stock is owned by hedge funds and other institutional investors.

Emerson Electric Trading Up 0.2 %

NYSE EMR opened at $108.93 on Wednesday. The company’s fifty day moving average price is $106.41 and its two-hundred day moving average price is $108.90. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.16 and a quick ratio of 0.86. Emerson Electric Co. has a 12 month low of $83.10 and a 12 month high of $119.53. The company has a market capitalization of $62.32 billion, a price-to-earnings ratio of 5.83, a price-to-earnings-growth ratio of 1.68 and a beta of 1.30.

Emerson Electric (NYSE:EMR) last released its quarterly earnings data on Wednesday, August 7th. The industrial products company reported $1.43 earnings per share for the quarter, topping analysts’ consensus estimates of $1.42 by $0.01. The business had revenue of $4.38 billion for 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%. The company’s revenue for the quarter was up 11.0% compared to the same quarter last year. During the same quarter last year, the company earned $1.29 EPS. As a group, research analysts predict that Emerson Electric Co. will post 5.48 earnings per share for the current fiscal year.

Emerson Electric Dividend Announcement

The firm also recently disclosed 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 annualized dividend and a dividend yield of 1.93%. Emerson Electric’s dividend payout ratio is currently 11.24%.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Stephens cut 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 research report on Wednesday, October 16th. Robert W. Baird boosted their price objective on Emerson Electric from $116.00 to $117.00 and gave the stock a “neutral” rating in a research note on Thursday, August 8th. StockNews.com downgraded shares of Emerson Electric from a “buy” rating to a “hold” rating in a report on Thursday, July 25th. JPMorgan Chase & Co. lowered shares of Emerson Electric from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $132.00 to $115.00 in a report on Wednesday, August 14th. Finally, Oppenheimer increased their price objective on shares of Emerson Electric from $120.00 to $125.00 and gave the stock an “outperform” rating in a research report on Thursday, September 26th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target 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.