Amalgamated Bank Cuts Stake in Emerson Electric Co. (NYSE:EMR)

Amalgamated Bank cut its holdings in Emerson Electric Co. (NYSE:EMR) by 2.6% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 112,474 shares of the industrial products company’s stock after selling 3,061 shares during the period. Amalgamated Bank’s holdings in Emerson Electric were worth $12,301,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in EMR. Thrive Wealth Management LLC grew its stake in shares of Emerson Electric by 4.1% in the second quarter. Thrive Wealth Management LLC now owns 2,319 shares of the industrial products company’s stock valued at $255,000 after buying an additional 91 shares in the last quarter. LCM Capital Management Inc grew its position in Emerson Electric by 1.4% in the 2nd quarter. LCM Capital Management Inc now owns 6,787 shares of the industrial products company’s stock valued at $748,000 after acquiring an additional 91 shares in the last quarter. Sabal Trust CO increased its stake in Emerson Electric by 2.2% during the second quarter. Sabal Trust CO now owns 4,308 shares of the industrial products company’s stock worth $475,000 after purchasing an additional 93 shares during the period. Catalyst Financial Partners LLC lifted its position in shares of Emerson Electric by 3.7% during the second quarter. Catalyst Financial Partners LLC now owns 2,609 shares of the industrial products company’s stock worth $287,000 after purchasing an additional 94 shares in the last quarter. Finally, PFG Advisors grew its holdings in shares of Emerson Electric by 3.8% in the first quarter. PFG Advisors now owns 2,591 shares of the industrial products company’s stock valued at $294,000 after purchasing an additional 96 shares in the last quarter. 74.30% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have commented on EMR. Royal Bank of Canada dropped their price target on shares of Emerson Electric from $140.00 to $139.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. JPMorgan Chase & Co. downgraded Emerson Electric from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $132.00 to $115.00 in a report on Wednesday, August 14th. Robert W. Baird lifted their price objective on Emerson Electric from $117.00 to $118.00 and gave the company a “neutral” rating in a research note on Monday. Barclays cut their target price on shares of Emerson Electric from $110.00 to $103.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 8th. Finally, Wells Fargo & Company lowered their price target on shares of Emerson Electric from $137.00 to $128.00 and set an “overweight” rating for the company in a report on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, Emerson Electric presently has a consensus rating of “Moderate Buy” and a consensus target price of $125.53.

Emerson Electric Trading Up 7.2 %

NYSE:EMR opened at $117.67 on Wednesday. The company has a market capitalization of $67.39 billion, a PE ratio of 39.49, a P/E/G ratio of 1.66 and a beta of 1.30. Emerson Electric Co. has a 52-week low of $83.10 and a 52-week high of $119.61. The stock’s 50 day moving average price is $107.04 and its 200 day moving average price is $108.92. The company has a quick ratio of 0.86, a current ratio of 1.16 and a debt-to-equity ratio of 0.27.

Emerson Electric (NYSE:EMR) last announced its earnings results on Wednesday, August 7th. The industrial products company reported $1.43 EPS for the quarter, beating analysts’ consensus estimates of $1.42 by $0.01. Emerson Electric had a net margin of 10.12% and a return on equity of 11.41%. The business had revenue of $4.38 billion for the quarter, compared to analysts’ expectations of $4.44 billion. During the same period in the previous year, the company posted $1.29 EPS. The company’s quarterly revenue was up 11.0% on a year-over-year basis. On average, research analysts anticipate that Emerson Electric Co. will post 5.48 EPS for the current year.

Emerson Electric Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Friday, November 15th will be paid a dividend of $0.5275 per share. This is an increase from Emerson Electric’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend is Friday, November 15th. This represents a $2.11 annualized dividend and a dividend yield of 1.79%. Emerson Electric’s dividend payout ratio is 70.47%.

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.