Deseret Mutual Benefit Administrators Reduces Stake in Emerson Electric Co. (NYSE:EMR)

Deseret Mutual Benefit Administrators lessened its stake in shares of Emerson Electric Co. (NYSE:EMR) by 23.9% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,665 shares of the industrial products company’s stock after selling 836 shares during the period. Deseret Mutual Benefit Administrators’ holdings in Emerson Electric were worth $291,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Newport Trust Company LLC acquired a new position in Emerson Electric in the 2nd quarter valued at about $574,908,000. Legal & General Group Plc raised its position in shares of Emerson Electric by 5.2% during the 2nd quarter. Legal & General Group Plc now owns 4,510,496 shares of the industrial products company’s stock valued at $496,877,000 after buying an additional 224,784 shares during the period. Van ECK Associates Corp lifted its holdings in Emerson Electric by 107.2% in the third quarter. Van ECK Associates Corp now owns 3,896,889 shares of the industrial products company’s stock valued at $422,852,000 after acquiring an additional 2,016,075 shares during the last quarter. DekaBank Deutsche Girozentrale grew its position in Emerson Electric by 3.3% in the third quarter. DekaBank Deutsche Girozentrale now owns 2,738,701 shares of the industrial products company’s stock worth $297,653,000 after acquiring an additional 88,294 shares during the period. Finally, Swedbank AB increased its stake in Emerson Electric by 127.3% during the third quarter. Swedbank AB now owns 2,544,439 shares of the industrial products company’s stock worth $278,285,000 after acquiring an additional 1,424,800 shares during the last quarter. Hedge funds and other institutional investors own 74.30% of the company’s stock.

Emerson Electric Stock Down 0.1 %

EMR stock opened at $126.70 on Thursday. Emerson Electric Co. has a fifty-two week low of $84.61 and a fifty-two week high of $127.74. The company’s 50 day moving average price is $107.50 and its 200 day moving average price is $109.05. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.86 and a current ratio of 1.16. The firm has a market capitalization of $72.56 billion, a price-to-earnings ratio of 42.57, a PEG ratio of 1.68 and a beta of 1.30.

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

Emerson Electric Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Friday, November 15th will be given a dividend of $0.5275 per share. This is a boost from Emerson Electric’s previous quarterly dividend of $0.53. This represents a $2.11 annualized dividend and a dividend yield of 1.67%. The ex-dividend date of this dividend is Friday, November 15th. Emerson Electric’s dividend payout ratio is currently 70.47%.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on EMR shares. Robert W. Baird increased their price target on Emerson Electric from $117.00 to $118.00 and gave the stock a “neutral” rating in a report on Monday. JPMorgan Chase & Co. downgraded shares of Emerson Electric from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $132.00 to $115.00 in a research note on Wednesday, August 14th. KeyCorp increased their price objective on shares of Emerson Electric from $125.00 to $140.00 and gave the stock an “overweight” rating in a research report on Wednesday. Wells Fargo & Company upped their price target on Emerson Electric from $128.00 to $135.00 and gave the stock an “overweight” rating in a research note on Wednesday. Finally, Oppenheimer lifted their price objective on Emerson Electric from $120.00 to $125.00 and gave the company an “outperform” rating in a research note on Thursday, September 26th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, Emerson Electric currently has an average rating of “Moderate Buy” and a consensus target price of $127.65.

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.