RNC Capital Management LLC Sells 1,146 Shares of Emerson Electric Co. (NYSE:EMR)

RNC Capital Management LLC reduced its position in shares of Emerson Electric Co. (NYSE:EMR) by 0.2% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 495,716 shares of the industrial products company’s stock after selling 1,146 shares during the quarter. Emerson Electric makes up about 2.9% of RNC Capital Management LLC’s holdings, making the stock its 14th biggest holding. RNC Capital Management LLC owned about 0.09% of Emerson Electric worth $48,248,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in EMR. Moneta Group Investment Advisors LLC raised its holdings in Emerson Electric by 105,280.8% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 54,417,593 shares of the industrial products company’s stock valued at $5,227,354,000 after buying an additional 54,365,954 shares during the last quarter. Norges Bank bought a new stake in Emerson Electric during the 4th quarter valued at $702,606,000. Morgan Stanley raised its holdings in Emerson Electric by 28.4% during the 4th quarter. Morgan Stanley now owns 11,835,398 shares of the industrial products company’s stock valued at $1,136,909,000 after buying an additional 2,621,089 shares during the last quarter. Adage Capital Partners GP L.L.C. raised its holdings in Emerson Electric by 255.5% during the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 2,803,881 shares of the industrial products company’s stock valued at $270,771,000 after buying an additional 2,015,232 shares during the last quarter. Finally, Nordea Investment Management AB raised its holdings in Emerson Electric by 26.5% in the 4th quarter. Nordea Investment Management AB now owns 7,447,248 shares of the industrial products company’s stock worth $723,873,000 after purchasing an additional 1,558,903 shares in the last quarter. 74.30% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Director Mark A. Blinn sold 2,413 shares of the firm’s stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $103.18, for a total transaction of $248,973.34. Following the sale, the director now owns 9,591 shares of the company’s stock, valued at approximately $989,599.38. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.25% of the company’s stock.

Emerson Electric Stock Performance

Shares of EMR stock opened at $113.45 on Thursday. Emerson Electric Co. has a one year low of $76.94 and a one year high of $113.46. The company’s 50-day moving average is $103.91 and its 200 day moving average is $96.90. The company has a market capitalization of $64.76 billion, a price-to-earnings ratio of 5.91, a price-to-earnings-growth ratio of 1.95 and a beta of 1.36. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.80 and a current ratio of 1.12.

Emerson Electric (NYSE:EMR) last announced its quarterly earnings data on Wednesday, February 7th. The industrial products company reported $1.22 EPS for the quarter, beating the consensus estimate of $1.04 by $0.18. Emerson Electric had a net margin of 69.33% and a return on equity of 11.59%. The company had revenue of $4.12 billion for the quarter, compared to the consensus estimate of $3.91 billion. During the same period in the prior year, the firm posted $0.78 EPS. Emerson Electric’s revenue for the quarter was up 22.1% on a year-over-year basis. Sell-side analysts expect that Emerson Electric Co. will post 5.4 EPS for the current fiscal year.

Emerson Electric Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 11th. Stockholders of record on Friday, February 16th were issued a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a dividend yield of 1.85%. The ex-dividend date was Thursday, February 15th. Emerson Electric’s payout ratio is presently 10.94%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on EMR shares. Wells Fargo & Company upped their price objective on shares of Emerson Electric from $100.00 to $120.00 and gave the stock an “overweight” rating in a report on Tuesday, December 19th. Berenberg Bank upped their price objective on shares of Emerson Electric from $100.00 to $130.00 and gave the stock a “buy” rating in a report on Wednesday, March 6th. KeyCorp upped their price objective on shares of Emerson Electric from $120.00 to $125.00 and gave the stock an “overweight” rating in a report on Thursday, February 8th. UBS Group upped their price objective on shares of Emerson Electric from $95.00 to $120.00 and gave the stock a “neutral” rating in a report on Thursday, March 21st. Finally, Barclays upped their target price on shares of Emerson Electric from $91.00 to $95.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 8th. Three research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $113.00.

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.