Goldstone Financial Group LLC Acquires Shares of 3,598 Emerson Electric Co. (NYSE:EMR)

Goldstone Financial Group LLC acquired a new stake in shares of Emerson Electric Co. (NYSE:EMR) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 3,598 shares of the industrial products company’s stock, valued at approximately $393,000.

A number of other institutional investors also recently added to or reduced their stakes in EMR. Pinnacle Associates Ltd. boosted its holdings in shares of Emerson Electric by 1.7% in the 3rd quarter. Pinnacle Associates Ltd. now owns 56,860 shares of the industrial products company’s stock worth $6,219,000 after acquiring an additional 968 shares in the last quarter. First Trust Direct Indexing L.P. boosted its holdings in shares of Emerson Electric by 14.6% in the 3rd quarter. First Trust Direct Indexing L.P. now owns 22,707 shares of the industrial products company’s stock worth $2,483,000 after acquiring an additional 2,890 shares in the last quarter. Golden State Equity Partners acquired a new position in shares of Emerson Electric in the 3rd quarter worth approximately $487,000. Highline Wealth Partners LLC acquired a new position in shares of Emerson Electric in the 3rd quarter worth approximately $560,000. Finally, Creekmur Asset Management LLC boosted its holdings in shares of Emerson Electric by 44.3% in the 3rd quarter. Creekmur Asset Management LLC now owns 12,408 shares of the industrial products company’s stock worth $1,357,000 after acquiring an additional 3,812 shares in the last quarter. 74.30% of the stock is owned by institutional investors and hedge funds.

Emerson Electric Price Performance

EMR stock opened at $108.25 on Friday. The stock has a 50-day moving average price of $106.59 and a two-hundred day moving average price of $108.90. The stock has a market cap of $61.99 billion, a PE ratio of 36.33, a price-to-earnings-growth ratio of 1.68 and a beta of 1.30. The company has a current ratio of 1.16, a quick ratio of 0.86 and a debt-to-equity ratio of 0.27. Emerson Electric Co. has a 1 year low of $83.10 and a 1 year high of $119.53.

Emerson Electric (NYSE:EMR) last released its earnings results on Wednesday, August 7th. The industrial products company reported $1.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.42 by $0.01. The firm had revenue of $4.38 billion during the quarter, compared to analysts’ expectations of $4.44 billion. Emerson Electric had a return on equity of 11.41% and a net margin of 10.12%. The company’s revenue was up 11.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.29 EPS. Equities analysts forecast that Emerson Electric Co. will post 5.48 EPS 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 dividend of $0.525 per share. 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 is 70.47%.

Analyst Upgrades and Downgrades

EMR has been the topic of several recent analyst reports. Morgan Stanley initiated coverage on Emerson Electric in a report on Friday, September 6th. They issued an “underweight” rating and a $105.00 target price on the stock. StockNews.com downgraded Emerson Electric from a “buy” rating to a “hold” rating in a report on Thursday, July 25th. Redburn Atlantic initiated coverage on Emerson Electric in a report on Monday, July 8th. They set a “buy” rating and a $135.00 price objective on the stock. Barclays reduced their price objective on Emerson Electric from $110.00 to $103.00 and set an “equal weight” rating on the stock in a report on Thursday, August 8th. Finally, Oppenheimer upped their price objective on Emerson Electric from $120.00 to $125.00 and gave the stock an “outperform” rating in a report on Thursday, September 26th. One 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 company’s stock. Based on data from MarketBeat.com, Emerson Electric currently has an average rating of “Moderate Buy” and an average target price of $125.47.

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.