Citigroup Inc. Sells 117,401 Shares of Emerson Electric Co. (NYSE:EMR)

Citigroup Inc. reduced its holdings in shares of Emerson Electric Co. (NYSE:EMR) by 23.4% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 384,175 shares of the industrial products company’s stock after selling 117,401 shares during the quarter. Citigroup Inc.’s holdings in Emerson Electric were worth $34,726,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the company. Bank Julius Baer & Co. Ltd Zurich raised its holdings in Emerson Electric by 94,950.7% in the 2nd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 96,464,073 shares of the industrial products company’s stock valued at $8,719,388,000 after acquiring an additional 96,362,586 shares in the last quarter. Moneta Group Investment Advisors LLC increased its holdings in Emerson Electric by 105,280.8% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 54,417,593 shares of the industrial products company’s stock worth $5,227,354,000 after purchasing an additional 54,365,954 shares in the last quarter. Morgan Stanley increased its holdings in Emerson Electric by 28.4% in the 4th quarter. Morgan Stanley now owns 11,835,398 shares of the industrial products company’s stock worth $1,136,909,000 after purchasing an additional 2,621,089 shares in the last quarter. Wellington Management Group LLP increased its holdings in Emerson Electric by 8.1% in the 1st quarter. Wellington Management Group LLP now owns 9,206,713 shares of the industrial products company’s stock worth $802,273,000 after purchasing an additional 692,247 shares in the last quarter. Finally, Norges Bank acquired a new position in Emerson Electric in the 4th quarter worth about $702,606,000. 72.02% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Emerson Electric

In other Emerson Electric news, CMO Vidya Ramnath sold 2,500 shares of the stock in a transaction on Tuesday, September 5th. The stock was 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 directly owns 11,870 shares of the company’s stock, valued at $1,161,598.20. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, Director Arthur F. Golden purchased 3,000 shares of the business’s stock in a transaction dated Wednesday, November 8th. The stock was purchased at an average cost of $85.64 per share, with a total value of $256,920.00. Following the completion of the acquisition, the director now directly owns 97,504 shares of the company’s stock, valued at $8,350,242.56. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CMO Vidya Ramnath sold 2,500 shares of the firm’s stock in a transaction on Tuesday, September 5th. The stock was sold at an average price of $97.86, for a total value of $244,650.00. Following the completion of the transaction, the chief marketing officer now directly owns 11,870 shares of the company’s stock, valued at $1,161,598.20. The disclosure for this sale can be found here. 0.33% of the stock is owned by corporate insiders.

Emerson Electric Stock Performance

Shares of EMR opened at $89.32 on Friday. The company has a current ratio of 2.75, a quick ratio of 2.35 and a debt-to-equity ratio of 0.29. The company has a market capitalization of $50.92 billion, a price-to-earnings ratio of 3.90, a PEG ratio of 1.52 and a beta of 1.38. The stock has a 50 day moving average of $93.28 and a 200 day moving average of $90.78. Emerson Electric Co. has a 12 month low of $76.94 and a 12 month high of $100.62.

Emerson Electric (NYSE:EMR) last issued 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 business had revenue of $4.09 billion for the quarter, compared to analysts’ expectations of $4.20 billion. Emerson Electric had a net margin of 87.17% and a return on equity of 11.78%. The business’s revenue was up 5.1% compared to the same quarter last year. During the same period in the previous year, the business posted $1.53 earnings per share. As a group, sell-side analysts forecast that Emerson Electric Co. will post 5.26 earnings per share for the current year.

Emerson Electric Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 11th. Shareholders of record on Friday, November 17th will be issued a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a yield of 2.35%. This is a positive change from Emerson Electric’s previous quarterly dividend of $0.52. The ex-dividend date is Thursday, November 16th. Emerson Electric’s dividend payout ratio is 9.08%.

Wall Street Analyst Weigh In

EMR has been the topic of a number of analyst reports. UBS Group lowered Emerson Electric from a “buy” rating to a “neutral” rating and upped their price target for the company from $97.00 to $104.00 in a research report on Tuesday, October 3rd. Stephens reduced their price target on Emerson Electric from $120.00 to $105.00 and set an “overweight” rating on the stock in a research report on Friday, November 10th. Wells Fargo & Company reduced their price target on Emerson Electric from $110.00 to $105.00 in a research report on Monday, October 9th. Vertical Research upgraded Emerson Electric from a “hold” rating to a “buy” rating and set a $120.00 price target on the stock in a research report on Friday, September 15th. Finally, Citigroup reduced their price target on Emerson Electric from $112.00 to $109.00 and set a “buy” rating on the stock in a research report on Wednesday, November 8th. Five investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, Emerson Electric presently has an average rating of “Moderate Buy” and a consensus target price of $105.11.

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