Beese Fulmer Investment Management Inc. Reduces Position in Emerson Electric Co. (NYSE:EMR)

Beese Fulmer Investment Management Inc. lessened its holdings in shares of Emerson Electric Co. (NYSE:EMR) by 2.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 97,003 shares of the industrial products company’s stock after selling 2,680 shares during the quarter. Beese Fulmer Investment Management Inc.’s holdings in Emerson Electric were worth $8,768,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also modified their holdings of the business. Flagship Harbor Advisors LLC increased its stake in Emerson Electric by 1.4% during the 2nd quarter. Flagship Harbor Advisors LLC now owns 8,247 shares of the industrial products company’s stock worth $745,000 after buying an additional 111 shares during the period. Knightsbridge Asset Management LLC increased its stake in Emerson Electric by 3.7% during the 4th quarter. Knightsbridge Asset Management LLC now owns 3,310 shares of the industrial products company’s stock worth $318,000 after buying an additional 119 shares during the period. CoreCap Advisors LLC increased its stake in Emerson Electric by 1.1% during the 4th quarter. CoreCap Advisors LLC now owns 10,832 shares of the industrial products company’s stock worth $1,041,000 after buying an additional 120 shares during the period. Studio Investment Management LLC increased its stake in Emerson Electric by 2.3% during the 4th quarter. Studio Investment Management LLC now owns 5,363 shares of the industrial products company’s stock worth $515,000 after buying an additional 121 shares during the period. Finally, Pine Haven Investment Counsel Inc increased its stake in Emerson Electric by 1.0% during the 1st quarter. Pine Haven Investment Counsel Inc now owns 12,636 shares of the industrial products company’s stock worth $1,101,000 after buying an additional 121 shares during the period. Hedge funds and other institutional investors own 72.02% of the company’s stock.

Emerson Electric Stock Performance

NYSE:EMR traded up $0.26 during trading hours on Friday, reaching $98.86. 7,287,061 shares of the company’s stock were exchanged, compared to its average volume of 3,196,321. The firm has a market capitalization of $56.74 billion, a price-to-earnings ratio of 4.32, a P/E/G ratio of 2.29 and a beta of 1.39. The company has a 50-day moving average of $95.35 and a 200 day moving average of $88.17. The company has a quick ratio of 2.07, a current ratio of 2.38 and a debt-to-equity ratio of 0.29. Emerson Electric Co. has a 1-year low of $72.40 and a 1-year high of $100.62.

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

Emerson Electric Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 11th. Shareholders 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 payout ratio is currently 9.09%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on EMR shares. JPMorgan Chase & Co. raised shares of Emerson Electric from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $83.00 to $107.00 in a research note on Tuesday, August 22nd. Royal Bank of Canada boosted their price target on shares of Emerson Electric from $103.00 to $111.00 and gave the stock an “outperform” rating in a report on Thursday, August 3rd. Barclays started coverage on shares of Emerson Electric in a report on Monday, August 28th. They set an “equal weight” rating and a $105.00 price target for the company. Stephens reiterated an “overweight” rating and set a $120.00 price target on shares of Emerson Electric in a report on Monday, August 7th. Finally, Argus upgraded shares of Emerson Electric from a “hold” rating to a “buy” rating and set a $110.00 price target for the company in a report on Monday, August 28th. Three investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $105.67.

Insiders Place Their Bets

In other Emerson Electric news, CMO Vidya Ramnath sold 2,500 shares of the company’s stock in a transaction on Tuesday, September 5th. The shares were sold at an average price of $97.86, for a total transaction of $244,650.00. Following the completion of the transaction, the chief marketing officer now owns 11,870 shares in the company, valued at approximately $1,161,598.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Emerson Electric news, CMO Vidya Ramnath sold 2,500 shares of the company’s stock in a transaction on Tuesday, September 5th. The shares were sold at an average price of $97.86, for a total transaction of $244,650.00. Following the completion of the transaction, the chief marketing officer now owns 11,870 shares in the company, valued at approximately $1,161,598.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Lisa Flavin sold 48,718 shares of the company’s stock in a transaction on Tuesday, June 27th. The stock was sold at an average price of $89.65, for a total transaction of $4,367,568.70. Following the transaction, the vice president now owns 51,748 shares of the company’s stock, valued at approximately $4,639,208.20. The disclosure for this sale can be found here. 0.33% of the stock is owned by insiders.

About Emerson Electric

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.