Emerson Electric Co. (NYSE:EMR) Shares Bought by Cornerstone Wealth Management LLC

Cornerstone Wealth Management LLC grew its holdings in Emerson Electric Co. (NYSE:EMR) by 1.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 53,964 shares of the industrial products company’s stock after purchasing an additional 535 shares during the period. Cornerstone Wealth Management LLC’s holdings in Emerson Electric were worth $5,917,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. Vanguard Group Inc. lifted its stake in Emerson Electric by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 53,536,974 shares of the industrial products company’s stock worth $6,634,837,000 after purchasing an additional 384,313 shares in the last quarter. Geode Capital Management LLC lifted its stake 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 worth $1,443,725,000 after acquiring an additional 232,540 shares in the last quarter. Norges Bank purchased a new position in Emerson Electric during the 4th quarter valued at about $885,886,000. Northern Trust Corp grew its position in Emerson Electric by 5.9% in 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 acquiring an additional 370,560 shares in the last quarter. Finally, Schroder Investment Management Group increased its stake in Emerson Electric by 4.1% during the fourth 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 during the period. 74.30% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Emerson Electric 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 value 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 approximately $18,694,576.81. The trade was a 9.19% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.50% of the company’s stock.

Wall Street Analyst Weigh In

EMR has been the subject of several recent research reports. Royal Bank Of Canada raised their price objective on shares of Emerson Electric from $123.00 to $124.00 and gave the company an “outperform” rating in a research note on Thursday, May 8th. Robert W. Baird dropped their price target on shares of Emerson Electric from $140.00 to $130.00 and set a “neutral” rating for the company in a research note on Thursday, May 8th. JPMorgan Chase & Co. upped their price objective on Emerson Electric from $113.00 to $133.00 and gave the stock a “neutral” rating in a research report on Friday, May 16th. Wall Street Zen upgraded Emerson Electric from a “hold” rating to a “buy” rating in a report on Friday, May 9th. Finally, Citigroup upped their price target on Emerson Electric from $133.00 to $146.00 and gave the stock a “buy” rating in a report on Wednesday, June 4th. Two research analysts have rated the stock with a sell rating, four have given a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $136.47.

Emerson Electric Trading Down 0.9%

EMR opened at $127.55 on Wednesday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.59 and a current ratio of 0.80. Emerson Electric Co. has a one year low of $90.06 and a one year high of $134.85. The company has a market cap of $71.75 billion, a P/E ratio of 30.51, a PEG ratio of 2.54 and a beta of 1.28. The business’s 50-day simple moving average is $113.52 and its 200-day simple moving average is $118.26.

Emerson Electric (NYSE:EMR) last released its quarterly earnings data on Wednesday, May 7th. The industrial products company reported $1.48 earnings per share for the quarter, topping analysts’ consensus estimates of $1.41 by $0.07. The company had revenue of $4.43 billion for the quarter, compared to analysts’ expectations of $4.42 billion. Emerson Electric had a net margin of 13.60% and a return on equity of 13.22%. The firm’s revenue for the quarter was up 1.3% on a year-over-year basis. During the same quarter last year, the company earned $1.36 earnings per share. As a group, equities research analysts expect that Emerson Electric Co. will post 5.96 EPS for the current fiscal year.

Emerson Electric Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Friday, May 16th were paid a $0.5275 dividend. The ex-dividend date of this dividend was Friday, May 16th. This represents a $2.11 annualized dividend and a yield of 1.65%. Emerson Electric’s dividend payout ratio is presently 50.48%.

Emerson Electric 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.