Penobscot Investment Management Company Inc. Has $1.11 Million Position in Emerson Electric Co. (NYSE:EMR)

Penobscot Investment Management Company Inc. lessened its holdings in shares of Emerson Electric Co. (NYSE:EMR) by 4.3% in the second quarter, according to its most recent filing with the SEC. The firm owned 12,311 shares of the industrial products company’s stock after selling 550 shares during the period. Penobscot Investment Management Company Inc.’s holdings in Emerson Electric were worth $1,113,000 as of its most recent filing with the SEC.

A number of other large investors also recently made changes to their positions in the stock. Envestnet Asset Management Inc. boosted its position in shares of Emerson Electric by 2.3% during the first quarter. Envestnet Asset Management Inc. now owns 1,040,964 shares of the industrial products company’s stock worth $90,710,000 after purchasing an additional 23,535 shares in the last quarter. West Coast Financial LLC bought a new position in Emerson Electric during the second quarter worth about $206,000. Bailard Inc. increased its holdings in shares of Emerson Electric by 7.0% in the second quarter. Bailard Inc. now owns 38,231 shares of the industrial products company’s stock worth $3,456,000 after acquiring an additional 2,489 shares in the last quarter. DAVENPORT & Co LLC raised its position in shares of Emerson Electric by 2.6% during the second quarter. DAVENPORT & Co LLC now owns 68,809 shares of the industrial products company’s stock worth $6,220,000 after purchasing an additional 1,751 shares during the period. Finally, Sentry Investment Management LLC bought a new stake in Emerson Electric during the 2nd quarter worth approximately $365,000. Institutional investors and hedge funds own 72.02% of the company’s stock.

Emerson Electric Trading Down 0.2 %

EMR stock opened at $88.37 on Thursday. The stock has a market cap of $50.72 billion, a price-to-earnings ratio of 3.86, a price-to-earnings-growth ratio of 1.49 and a beta of 1.38. The company has a fifty day moving average price of $93.71 and a two-hundred day moving average price of $90.77. Emerson Electric Co. has a one year low of $76.94 and a one year high of $100.62. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.75 and a quick ratio of 2.35.

Emerson Electric (NYSE:EMR) last announced its quarterly earnings results on Tuesday, November 7th. The industrial products company reported $1.29 EPS for the quarter, missing analysts’ consensus estimates of $1.30 by ($0.01). The company had revenue of $4.09 billion during the quarter, compared to analyst estimates of $4.20 billion. Emerson Electric had a net margin of 87.17% and a return on equity of 11.78%. The firm’s quarterly revenue was up 5.1% on a year-over-year basis. During the same quarter last year, the company posted $1.53 EPS. Equities analysts anticipate that Emerson Electric Co. will post 5.26 EPS for the current year.

Emerson Electric Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 11th. Stockholders of record on Friday, November 17th will be issued a dividend of $0.525 per share. The ex-dividend date of this dividend is Thursday, November 16th. This represents a $2.10 dividend on an annualized basis and a dividend yield of 2.38%. This is an increase from Emerson Electric’s previous quarterly dividend of $0.52. Emerson Electric’s dividend payout ratio (DPR) is currently 9.08%.

Insider Activity

In other Emerson Electric news, CMO Vidya Ramnath sold 2,500 shares of Emerson Electric stock in a transaction dated Tuesday, September 5th. The shares were sold at an average price of $97.86, for a total value of $244,650.00. Following the completion of the sale, 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 filing with the Securities & Exchange Commission, which is available through the SEC website. In other Emerson Electric news, CMO Vidya Ramnath sold 2,500 shares of the stock in a transaction dated Tuesday, September 5th. The shares were 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Arthur F. Golden purchased 3,000 shares of Emerson Electric stock in a transaction that occurred on Wednesday, November 8th. The shares were purchased at an average price of $85.64 per share, for a total transaction of $256,920.00. Following the transaction, the director now directly owns 97,504 shares in the company, valued at approximately $8,350,242.56. The disclosure for this purchase can be found here. 0.33% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on EMR. Mizuho increased their price objective on shares of Emerson Electric from $90.00 to $95.00 and gave the stock a “neutral” rating in a research report on Thursday, August 3rd. Citigroup reduced their price objective on Emerson Electric from $112.00 to $109.00 and set a “buy” rating for the company in a research report on Wednesday, November 8th. Royal Bank of Canada dropped their target price on Emerson Electric from $109.00 to $106.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 8th. Stephens reduced their price target on Emerson Electric from $120.00 to $105.00 and set an “overweight” rating for the company in a research report on Friday, November 10th. Finally, KeyCorp assumed coverage on shares of Emerson Electric in a research report on Monday, October 2nd. They issued an “overweight” rating and a $120.00 price objective on the stock. Five investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, Emerson Electric presently has a consensus rating of “Moderate Buy” and an average target price of $105.63.

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. It operates in six segments: Final Control, Control Systems & Software, Measurement & Analytical, AspenTech, Discrete Automation, and Safety & Productivity.