Patten & Patten Inc. TN Decreases Position in Emerson Electric Co. (NYSE:EMR)

Patten & Patten Inc. TN lowered its stake in shares of Emerson Electric Co. (NYSE:EMRFree Report) by 3.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,157 shares of the industrial products company’s stock after selling 372 shares during the quarter. Patten & Patten Inc. TN’s holdings in Emerson Electric were worth $989,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of the stock. RB Capital Management LLC raised its position in Emerson Electric by 3.0% in the 1st quarter. RB Capital Management LLC now owns 5,358 shares of the industrial products company’s stock valued at $525,000 after purchasing an additional 155 shares in the last quarter. Fairfield Bush & CO. acquired a new stake in Emerson Electric in the first quarter valued at approximately $116,000. Prudential PLC purchased a new position in Emerson Electric in the first quarter worth approximately $1,215,000. Sequoia Financial Advisors LLC grew its holdings in Emerson Electric by 17.5% during the 1st quarter. Sequoia Financial Advisors LLC now owns 9,521 shares of the industrial products company’s stock worth $934,000 after acquiring an additional 1,418 shares in the last quarter. Finally, Brighton Jones LLC increased its position in shares of Emerson Electric by 31.8% in the 1st quarter. Brighton Jones LLC now owns 3,856 shares of the industrial products company’s stock valued at $378,000 after purchasing an additional 931 shares during the last quarter. 74.30% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have recently commented on EMR shares. Berenberg Bank increased their price objective on Emerson Electric from $100.00 to $130.00 and gave the company a “buy” rating in a report on Wednesday, March 6th. Barclays upped their price objective on Emerson Electric from $95.00 to $105.00 and gave the company an “equal weight” rating in a research note on Tuesday. Wells Fargo & Company lifted their target price on Emerson Electric from $100.00 to $120.00 and gave the company an “overweight” rating in a research note on Tuesday, December 19th. UBS Group upped their price target on Emerson Electric from $95.00 to $120.00 and gave the stock a “neutral” rating in a research note on Thursday, March 21st. Finally, Bank of America increased their price target on Emerson Electric from $120.00 to $130.00 and gave the stock a “buy” rating in a report on Monday, March 4th. Three analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $113.56.

Read Our Latest Stock Report on Emerson Electric

Emerson Electric Trading Down 0.2 %

Shares of EMR opened at $113.34 on Wednesday. Emerson Electric Co. has a twelve month low of $76.94 and a twelve month high of $114.11. The company has a current ratio of 1.12, a quick ratio of 0.80 and a debt-to-equity ratio of 0.29. The firm has a market capitalization of $64.69 billion, a P/E ratio of 5.90, a PEG ratio of 1.97 and a beta of 1.37. The firm’s 50-day moving average is $105.45 and its two-hundred day moving average is $97.31.

Emerson Electric (NYSE:EMRGet Free Report) last released its quarterly earnings results on Wednesday, February 7th. The industrial products company reported $1.22 earnings per share for the quarter, topping analysts’ consensus estimates of $1.04 by $0.18. The business had revenue of $4.12 billion for the quarter, compared to analysts’ expectations of $3.91 billion. Emerson Electric had a return on equity of 11.59% and a net margin of 69.33%. The company’s revenue was up 22.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.78 EPS. On average, research analysts predict that Emerson Electric Co. will post 5.4 earnings per share for the current fiscal year.

Emerson Electric Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 11th. Investors of record on Friday, February 16th were given a $0.525 dividend. The ex-dividend date of this dividend was Thursday, February 15th. This represents a $2.10 annualized dividend and a dividend yield of 1.85%. Emerson Electric’s dividend payout ratio is presently 10.94%.

Insider Activity at Emerson Electric

In other Emerson Electric news, Director Mark A. Blinn sold 2,413 shares of the company’s stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $103.18, for a total value of $248,973.34. Following the sale, the director now owns 9,591 shares of the company’s stock, valued at $989,599.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.25% of the stock is owned by corporate insiders.

Emerson Electric Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Emerson Electric (NYSE:EMR)

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