Bridges Investment Management Inc. Sells 7,100 Shares of Emerson Electric Co. (NYSE:EMR)

Bridges Investment Management Inc. lowered its position in Emerson Electric Co. (NYSE:EMR) by 40.4% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,475 shares of the industrial products company’s stock after selling 7,100 shares during the quarter. Bridges Investment Management Inc.’s holdings in Emerson Electric were worth $947,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of EMR. Legacy Private Trust Co. raised its stake in Emerson Electric by 39.0% in the second quarter. Legacy Private Trust Co. now owns 17,890 shares of the industrial products company’s stock valued at $1,617,000 after buying an additional 5,015 shares during the period. Bangor Savings Bank increased its holdings in shares of Emerson Electric by 3.2% during the 2nd quarter. Bangor Savings Bank now owns 12,911 shares of the industrial products company’s stock worth $1,167,000 after acquiring an additional 405 shares during the last quarter. Woodstock Corp lifted its holdings in Emerson Electric by 2.5% during the 2nd quarter. Woodstock Corp now owns 89,171 shares of the industrial products company’s stock valued at $8,060,000 after purchasing an additional 2,171 shares during the last quarter. Nordea Investment Management AB boosted its position in Emerson Electric by 10.4% during the second quarter. Nordea Investment Management AB now owns 5,750,978 shares of the industrial products company’s stock worth $516,783,000 after purchasing an additional 541,304 shares during the period. Finally, Greenfield Savings Bank increased its holdings in shares of Emerson Electric by 3.1% in the second quarter. Greenfield Savings Bank now owns 6,628 shares of the industrial products company’s stock valued at $599,000 after purchasing an additional 200 shares during the last quarter. 72.02% of the stock is currently owned by institutional investors and hedge funds.

Emerson Electric Stock Up 0.3 %

Shares of NYSE EMR opened at $98.86 on Friday. The stock has a 50-day moving average price of $95.15 and a two-hundred day moving average price of $88.02. Emerson Electric Co. has a 12 month low of $72.40 and a 12 month high of $100.62. The company has a current ratio of 2.38, a quick ratio of 2.07 and a debt-to-equity ratio of 0.29. The company has a market cap of $56.74 billion, a price-to-earnings ratio of 4.32, a PEG ratio of 2.29 and a beta of 1.39.

Emerson Electric (NYSE:EMR) last released its quarterly earnings data on Wednesday, August 2nd. The industrial products company reported $1.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.09 by $0.20. Emerson Electric had a net margin of 80.41% and a return on equity of 14.27%. The business had revenue of $3.95 billion during the quarter, compared to analysts’ expectations of $3.89 billion. As a group, analysts forecast that Emerson Electric Co. will post 4.44 earnings per share for the current fiscal year.

Emerson Electric Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 11th. Investors of record on Friday, August 11th were given a dividend of $0.52 per share. The ex-dividend date of this dividend was Thursday, August 10th. This represents a $2.08 dividend on an annualized basis and a yield of 2.10%. Emerson Electric’s dividend payout ratio is currently 9.09%.

Insider Buying and Selling at Emerson Electric

In other news, CMO Vidya Ramnath sold 2,500 shares of the business’s stock in a transaction dated Tuesday, September 5th. The stock was sold at an average price of $97.86, for a total transaction of $244,650.00. Following the sale, the chief marketing officer now directly owns 11,870 shares in the company, valued at $1,161,598.20. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Emerson Electric news, VP Lisa Flavin sold 48,718 shares of the company’s stock in a transaction dated Tuesday, June 27th. The stock was sold at an average price of $89.65, for a total value of $4,367,568.70. Following the sale, the vice president now owns 51,748 shares in the company, valued at approximately $4,639,208.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CMO Vidya Ramnath sold 2,500 shares of the firm’s stock in a transaction dated Tuesday, September 5th. The stock was sold at an average price of $97.86, for a total value of $244,650.00. Following the transaction, the chief marketing officer now owns 11,870 shares of the company’s stock, valued at $1,161,598.20. The disclosure for this sale can be found here. Corporate insiders own 0.33% of the company’s stock.

Analyst Ratings Changes

Several analysts recently commented on the stock. Vertical Research raised shares of Emerson Electric from a “hold” rating to a “buy” rating and set a $120.00 target price for the company in a report on Friday. Barclays began coverage on Emerson Electric in a research note on Monday, August 28th. They set an “equal weight” rating and a $105.00 target price on the stock. Morgan Stanley boosted their price target on Emerson Electric from $107.00 to $116.00 and gave the company an “overweight” rating in a research note on Thursday, August 3rd. StockNews.com assumed coverage on Emerson Electric in a research report on Thursday, August 17th. They set a “buy” rating on the stock. Finally, HSBC raised shares of Emerson Electric from a “hold” rating to a “buy” rating and boosted their target price for the company from $79.00 to $100.00 in a research report on Wednesday, June 14th. Three analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat, Emerson Electric has a consensus rating of “Moderate Buy” and a consensus price target of $105.67.

Emerson Electric Profile

Emerson Electric Co, a technology and engineering company, provides various solutions for customers in industrial, commercial, and consumer markets in the Americas, Asia, the Middle East, Africa, and Europe. The company operates through Automation Solutions, AspenTech, and Commercial & Residential Solutions segments.