Park Avenue Securities LLC Sells 1,173 Shares of Emerson Electric Co. (NYSE:EMR)

Park Avenue Securities LLC decreased its position in shares of Emerson Electric Co. (NYSE:EMR) by 5.6% during the 1st quarter, Holdings Channel reports. The institutional investor owned 19,770 shares of the industrial products company’s stock after selling 1,173 shares during the quarter. Park Avenue Securities LLC’s holdings in Emerson Electric were worth $2,168,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. Kennebec Savings Bank increased its position in shares of Emerson Electric by 87.5% in the first quarter. Kennebec Savings Bank now owns 838 shares of the industrial products company’s stock worth $92,000 after purchasing an additional 391 shares during the period. City Center Advisors LLC acquired a new stake in shares of Emerson Electric during the 1st quarter worth approximately $218,000. Whitaker Myers Wealth Managers LTD. bought a new position in Emerson Electric in the first quarter valued at approximately $419,000. Wedmont Private Capital raised its position in Emerson Electric by 5.6% during the first quarter. Wedmont Private Capital now owns 5,621 shares of the industrial products company’s stock valued at $565,000 after purchasing an additional 297 shares in the last quarter. Finally, Sara Bay Financial lifted its stake in Emerson Electric by 1.7% during the first quarter. Sara Bay Financial now owns 24,571 shares of the industrial products company’s stock worth $2,669,000 after purchasing an additional 412 shares during the last quarter. 74.30% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on EMR shares. KeyCorp lowered their price target on Emerson Electric from $158.00 to $125.00 and set an “overweight” rating for the company in a report on Tuesday, April 8th. Citigroup raised their price objective on Emerson Electric from $133.00 to $146.00 and gave the company a “buy” rating in a research note on Wednesday, June 4th. Barclays raised their price objective on Emerson Electric from $112.00 to $118.00 and gave the company an “underweight” rating in a research note on Monday. Royal Bank of Canada raised their price objective on Emerson Electric from $123.00 to $124.00 and gave the company an “outperform” rating in a research note on Thursday, May 8th. Finally, Robert W. Baird reduced their price objective on Emerson Electric from $140.00 to $130.00 and set a “neutral” rating on the stock in a research note on Thursday, May 8th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $135.00.

Emerson Electric Price Performance

Emerson Electric stock opened at $126.98 on Wednesday. The company has a current ratio of 1.54, a quick ratio of 1.17 and a debt-to-equity ratio of 0.25. The company has a market capitalization of $71.43 billion, a PE ratio of 30.31, a P/E/G ratio of 2.49 and a beta of 1.28. Emerson Electric Co. has a 12 month low of $90.06 and a 12 month high of $134.85. The stock has a 50-day moving average price of $110.49 and a two-hundred day moving average price of $118.46.

Emerson Electric (NYSE:EMR) last posted its earnings results on Wednesday, May 7th. The industrial products company reported $1.48 EPS for the quarter, beating the consensus estimate of $1.41 by $0.07. Emerson Electric had a return on equity of 12.08% and a net margin of 13.74%. The firm had revenue of $4.43 billion during the quarter, compared to the consensus estimate of $4.42 billion. During the same period last year, the company earned $1.36 earnings per share. The business’s quarterly revenue was up 1.3% on a year-over-year basis. Analysts expect that Emerson Electric Co. will post 5.96 EPS for the current year.

Emerson Electric Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Friday, May 16th were given a dividend of $0.5275 per share. This represents a $2.11 dividend on an annualized basis and a yield of 1.66%. The ex-dividend date was Friday, May 16th. Emerson Electric’s dividend payout ratio is presently 50.48%.

Insider Buying and Selling at Emerson Electric

In other Emerson Electric news, CEO Surendralal Lanca Karsanbhai sold 16,698 shares of the stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $113.33, for a total transaction of $1,892,384.34. Following the completion of the sale, the chief executive officer now owns 164,957 shares of the company’s stock, valued at approximately $18,694,576.81. This represents a 9.19% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.50% of the company’s stock.

Emerson Electric Company Profile

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.