Mechanics Bank Trust Department Lowers Position in Emerson Electric Co. (NYSE:EMR)

Mechanics Bank Trust Department lessened its holdings in Emerson Electric Co. (NYSE:EMR) by 33.4% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 15,966 shares of the industrial products company’s stock after selling 8,000 shares during the period. Mechanics Bank Trust Department’s holdings in Emerson Electric were worth $1,443,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Aspire Private Capital LLC purchased a new stake in Emerson Electric during the first quarter valued at about $11,415,340,000. Mach 1 Financial Group LLC purchased a new stake in Emerson Electric during the first quarter valued at about $13,510,000. Graham Capital Wealth Management LLC purchased a new stake in Emerson Electric during the first quarter valued at about $243,121,000. Resurgent Financial Advisors LLC purchased a new stake in Emerson Electric during the fourth quarter valued at about $32,000. Finally, Certified Advisory Corp purchased a new stake in Emerson Electric during the first quarter valued at about $34,000. Hedge funds and other institutional investors own 72.02% of the company’s stock.

Insider Buying and Selling at Emerson Electric

In other Emerson Electric news, VP Lisa Flavin sold 48,718 shares of Emerson Electric stock in a transaction that occurred 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 sale, the vice president now directly owns 51,748 shares of the company’s stock, valued at approximately $4,639,208.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, VP Lisa Flavin sold 48,718 shares of Emerson Electric stock in a transaction that occurred on Tuesday, June 27th. The shares were sold at an average price of $89.65, for a total transaction of $4,367,568.70. Following the completion of the transaction, the vice president now directly owns 51,748 shares in the company, valued at $4,639,208.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CMO Vidya Ramnath sold 2,500 shares of Emerson Electric stock in a transaction that occurred 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 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. Insiders own 0.33% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on EMR. HSBC upgraded Emerson Electric from a “hold” rating to a “buy” rating and raised their price target for the company from $79.00 to $100.00 in a research report on Wednesday, June 14th. Stephens reaffirmed an “overweight” rating and set a $120.00 price objective on shares of Emerson Electric in a research note on Monday, August 7th. Royal Bank of Canada raised their price objective on Emerson Electric from $103.00 to $111.00 and gave the company an “outperform” rating in a research note on Thursday, August 3rd. Morgan Stanley raised their price objective on Emerson Electric from $107.00 to $116.00 and gave the company an “overweight” rating in a research note on Thursday, August 3rd. Finally, StockNews.com assumed coverage on Emerson Electric in a research note on Thursday, August 17th. They set a “buy” rating on the stock. Three equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $105.67.

Emerson Electric Stock Up 0.3 %

NYSE EMR opened at $98.86 on Friday. The business’s 50-day moving average is $95.35 and its 200 day moving average is $88.17. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.38 and a quick ratio of 2.07. The stock has a market capitalization of $56.74 billion, a PE ratio of 4.32, a PEG ratio of 2.29 and a beta of 1.39. Emerson Electric Co. has a 1 year low of $72.40 and a 1 year high of $100.62.

Emerson Electric (NYSE:EMR) last posted its quarterly earnings data on Wednesday, August 2nd. The industrial products company reported $1.29 earnings per share for the quarter, beating the consensus estimate of $1.09 by $0.20. The business had revenue of $3.95 billion for the quarter, compared to analysts’ expectations of $3.89 billion. Emerson Electric had a return on equity of 14.27% and a net margin of 80.41%. Sell-side analysts forecast that Emerson Electric Co. will post 4.44 earnings per share 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 annualized dividend and a yield of 2.10%. Emerson Electric’s payout ratio is 9.09%.

Emerson Electric Company 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.