Harrington Investments INC Cuts Holdings in Emerson Electric Co. (NYSE:EMR)

Harrington Investments INC cut its stake in shares of Emerson Electric Co. (NYSE:EMR) by 0.8% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 19,821 shares of the industrial products company’s stock after selling 160 shares during the quarter. Emerson Electric makes up approximately 1.2% of Harrington Investments INC’s portfolio, making the stock its 29th biggest position. Harrington Investments INC’s holdings in Emerson Electric were worth $2,173,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. Stokes Family Office LLC increased its position in shares of Emerson Electric by 94.8% in the 4th quarter. Stokes Family Office LLC now owns 9,206 shares of the industrial products company’s stock valued at $1,141,000 after purchasing an additional 4,480 shares during the last quarter. Clark Capital Management Group Inc. grew its stake in shares of Emerson Electric by 7.7% during the fourth quarter. Clark Capital Management Group Inc. now owns 6,042 shares of the industrial products company’s stock worth $749,000 after purchasing an additional 434 shares in the last quarter. World Investment Advisors increased its holdings in Emerson Electric by 41.2% in the fourth quarter. World Investment Advisors now owns 20,823 shares of the industrial products company’s stock valued at $2,581,000 after buying an additional 6,079 shares during the last quarter. Howland Capital Management LLC raised its stake in Emerson Electric by 13.0% in the fourth quarter. Howland Capital Management LLC now owns 26,494 shares of the industrial products company’s stock valued at $3,283,000 after buying an additional 3,054 shares in the last quarter. Finally, Geode Capital Management LLC lifted 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 worth $1,443,725,000 after buying an additional 232,540 shares during the last quarter. 74.30% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Citigroup raised their target price on Emerson Electric from $133.00 to $146.00 and gave the stock a “buy” rating in a research report on Wednesday. Barclays increased their price target on shares of Emerson Electric from $104.00 to $112.00 and gave the company an “underweight” rating in a research note on Friday, May 30th. Robert W. Baird lowered their target price on shares of Emerson Electric from $140.00 to $130.00 and set a “neutral” rating for the company in a report on Thursday, May 8th. Wall Street Zen upgraded shares of Emerson Electric from a “hold” rating to a “buy” rating in a research note on Friday, May 9th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Emerson Electric from $113.00 to $133.00 and gave the company a “neutral” rating in a research note on Friday, May 16th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Emerson Electric has an average rating of “Moderate Buy” and a consensus price target of $134.65.

Emerson Electric Stock Performance

NYSE EMR opened at $123.68 on Friday. The firm has a market cap of $69.57 billion, a P/E ratio of 29.52, a P/E/G ratio of 2.49 and a beta of 1.28. Emerson Electric Co. has a 52-week low of $90.06 and a 52-week high of $134.85. The business’s 50-day moving average price is $109.70 and its 200 day moving average price is $118.57. The company has a quick ratio of 1.17, a current ratio of 1.54 and a debt-to-equity ratio of 0.25.

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

Emerson Electric Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Friday, May 16th will be paid a $0.5275 dividend. This represents a $2.11 annualized dividend and a dividend yield of 1.71%. The ex-dividend date of this dividend is Friday, May 16th. Emerson Electric’s dividend payout ratio (DPR) is presently 50.48%.

Insider Activity

In other news, CEO Surendralal Lanca Karsanbhai sold 16,698 shares of the firm’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 directly owns 164,957 shares of the company’s stock, valued at $18,694,576.81. This trade represents a 9.19% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.50% of the company’s stock.

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.