Procyon Advisors LLC Trims Holdings in Emerson Electric Co. (NYSE:EMR)

Procyon Advisors LLC trimmed its position in Emerson Electric Co. (NYSE:EMR) by 45.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,043 shares of the industrial products company’s stock after selling 4,123 shares during the period. Procyon Advisors LLC’s holdings in Emerson Electric were worth $491,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Resurgent Financial Advisors LLC purchased a new position in shares of Emerson Electric during the 4th quarter worth about $32,000. Certified Advisory Corp purchased a new position in Emerson Electric in the first quarter valued at approximately $34,000. West Tower Group LLC acquired a new stake in Emerson Electric in the second quarter valued at approximately $35,000. Authentikos Wealth Advisory LLC acquired a new stake in Emerson Electric in the third quarter valued at approximately $42,000. Finally, Rational Advisors LLC acquired a new stake in Emerson Electric in the third quarter valued at approximately $42,000. 74.30% of the stock is currently owned by hedge funds and other institutional investors.

Emerson Electric Price Performance

NYSE:EMR opened at $113.42 on Friday. The business’s 50-day moving average price is $104.33 and its 200 day moving average price is $97.02. The firm has a market cap of $64.74 billion, a P/E ratio of 5.91, a PEG ratio of 1.95 and a beta of 1.36. Emerson Electric Co. has a 52-week low of $76.94 and a 52-week high of $113.89. The company has a quick ratio of 0.80, a current ratio of 1.12 and a debt-to-equity ratio of 0.29.

Emerson Electric (NYSE:EMR) last released its earnings results on Wednesday, February 7th. The industrial products company reported $1.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.04 by $0.18. The firm had revenue of $4.12 billion for the quarter, compared to analyst estimates of $3.91 billion. Emerson Electric had a return on equity of 11.59% and a net margin of 69.33%. Emerson Electric’s revenue was up 22.1% compared to the same quarter last year. During the same period in the previous year, the company earned $0.78 earnings per share. As a group, sell-side analysts predict that Emerson Electric Co. will post 5.4 earnings per share for the current fiscal year.

Emerson Electric Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 11th. Investors of record on Friday, February 16th were paid a $0.525 dividend. The ex-dividend date was Thursday, February 15th. This represents a $2.10 dividend on an annualized basis and a yield of 1.85%. Emerson Electric’s dividend payout ratio is currently 10.94%.

Insider Buying and Selling

In related news, Director Mark A. Blinn sold 2,413 shares of Emerson Electric stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $103.18, for a total value of $248,973.34. Following the transaction, the director now owns 9,591 shares of the company’s stock, valued at approximately $989,599.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.25% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. KeyCorp increased their price objective on shares of Emerson Electric from $120.00 to $125.00 and gave the company an “overweight” rating in a research report on Thursday, February 8th. Bank of America raised their price target on shares of Emerson Electric from $120.00 to $130.00 and gave the stock a “buy” rating in a research report on Monday, March 4th. Wells Fargo & Company raised their price target on shares of Emerson Electric from $100.00 to $120.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 19th. Barclays raised their price target on shares of Emerson Electric from $91.00 to $95.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 8th. Finally, UBS Group raised their price objective on Emerson Electric from $95.00 to $120.00 and gave the stock a “neutral” rating in a research note on Thursday, March 21st. Three equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $113.00.

About Emerson Electric

Emerson Electric Co, a technology and software 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.