My Legacy Advisors LLC Sells 593 Shares of Emerson Electric Co. (NYSE:EMR)

My Legacy Advisors LLC decreased its stake in Emerson Electric Co. (NYSE:EMR) by 17.2% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,850 shares of the industrial products company’s stock after selling 593 shares during the period. My Legacy Advisors LLC’s holdings in Emerson Electric were worth $312,000 as of its most recent filing with the SEC.

Other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in Emerson Electric by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 53,536,974 shares of the industrial products company’s stock worth $6,634,837,000 after buying an additional 384,313 shares in the last quarter. Geode Capital Management LLC raised its holdings in Emerson Electric by 2.0% during the 4th quarter. Geode Capital Management LLC now owns 11,685,615 shares of the industrial products company’s stock valued at $1,443,725,000 after buying an additional 232,540 shares during the last quarter. Norges Bank bought a new stake in Emerson Electric during the 4th quarter valued at $885,886,000. Northern Trust Corp raised its holdings in Emerson Electric by 5.9% during the 4th quarter. Northern Trust Corp now owns 6,676,168 shares of the industrial products company’s stock valued at $827,377,000 after buying an additional 370,560 shares during the last quarter. Finally, Schroder Investment Management Group raised its holdings in Emerson Electric by 4.1% in the 4th quarter. Schroder Investment Management Group now owns 4,376,492 shares of the industrial products company’s stock worth $542,379,000 after purchasing an additional 171,946 shares in the last quarter. Institutional investors own 74.30% of the company’s stock.

Emerson Electric Trading Down 0.3%

Shares of EMR stock opened at $126.55 on Thursday. Emerson Electric Co. has a fifty-two week low of $90.06 and a fifty-two week high of $134.85. The firm has a market capitalization of $71.18 billion, a P/E ratio of 30.20, a PEG ratio of 2.49 and a beta of 1.28. The stock’s fifty day moving average is $111.13 and its two-hundred day moving average is $118.51. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.17 and a current ratio of 1.54.

Emerson Electric (NYSE:EMR) last issued its earnings results on Wednesday, May 7th. The industrial products company reported $1.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.41 by $0.07. The business had revenue of $4.43 billion during the quarter, compared to the consensus estimate of $4.42 billion. Emerson Electric had a return on equity of 12.08% and a net margin of 13.74%. The company’s revenue for the quarter was up 1.3% on a year-over-year basis. During the same period last year, the company earned $1.36 EPS. Research analysts expect that Emerson Electric Co. will post 5.96 earnings per share for the current fiscal year.

Emerson Electric Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Friday, May 16th were paid a $0.5275 dividend. This represents a $2.11 annualized dividend and a dividend yield of 1.67%. The ex-dividend date of this dividend was Friday, May 16th. Emerson Electric’s payout ratio is presently 50.48%.

Insider Buying and Selling

In related news, CEO Surendralal Lanca Karsanbhai sold 16,698 shares of the business’s stock in a transaction that occurred on Thursday, May 8th. The stock was sold at an average price of $113.33, for a total transaction of $1,892,384.34. Following the completion of the sale, the chief executive officer now owns 164,957 shares in the company, valued at $18,694,576.81. The trade was a 9.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.50% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. KeyCorp decreased their price target on shares of Emerson Electric from $158.00 to $125.00 and set an “overweight” rating for the company in a research note on Tuesday, April 8th. Royal Bank of Canada increased their price target on shares of Emerson Electric from $123.00 to $124.00 and gave the stock an “outperform” rating in a research note on Thursday, May 8th. Citigroup increased their price target on shares of Emerson Electric from $133.00 to $146.00 and gave the stock a “buy” rating in a research note on Wednesday, June 4th. Barclays increased their price objective on shares of Emerson Electric from $112.00 to $118.00 and gave the company an “underweight” rating in a research report on Monday. Finally, Wells Fargo & Company increased their price objective on shares of Emerson Electric from $121.00 to $135.00 and gave the company an “overweight” rating in a research report on Wednesday, May 21st. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $135.00.

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.