Cornerstone Capital Inc. Buys 231 Shares of Emerson Electric Co. (NYSE:EMR)

Cornerstone Capital Inc. increased its position in shares of Emerson Electric Co. (NYSE:EMR) by 6.4% during the 3rd quarter, Holdings Channel reports. The fund owned 3,814 shares of the industrial products company’s stock after buying an additional 231 shares during the quarter. Cornerstone Capital Inc.’s holdings in Emerson Electric were worth $417,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of EMR. Newport Trust Company LLC bought a new position in Emerson Electric during the second quarter worth about $574,908,000. Pathway Financial Advisers LLC raised its position in shares of Emerson Electric by 10,993.2% during the third quarter. Pathway Financial Advisers LLC now owns 2,070,428 shares of the industrial products company’s stock worth $226,443,000 after purchasing an additional 2,051,764 shares during the period. Van ECK Associates Corp grew its position in shares of Emerson Electric by 107.2% in the 3rd quarter. Van ECK Associates Corp now owns 3,896,889 shares of the industrial products company’s stock valued at $422,852,000 after purchasing an additional 2,016,075 shares during the period. Swedbank AB increased its stake in Emerson Electric by 127.3% during the 3rd quarter. Swedbank AB now owns 2,544,439 shares of the industrial products company’s stock worth $278,285,000 after purchasing an additional 1,424,800 shares in the last quarter. Finally, Perpetual Ltd raised its holdings in Emerson Electric by 57,336.1% during the 3rd quarter. Perpetual Ltd now owns 1,206,158 shares of the industrial products company’s stock worth $131,918,000 after buying an additional 1,204,058 shares during the period. Institutional investors own 74.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Royal Bank of Canada lowered their price objective on shares of Emerson Electric from $140.00 to $139.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. Barclays decreased their price objective on Emerson Electric from $110.00 to $103.00 and set an “equal weight” rating for the company in a report on Thursday, August 8th. StockNews.com downgraded Emerson Electric from a “buy” rating to a “hold” rating in a research report on Thursday, July 25th. JPMorgan Chase & Co. cut shares of Emerson Electric from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from $132.00 to $115.00 in a report on Wednesday, August 14th. Finally, Morgan Stanley assumed coverage on shares of Emerson Electric in a research report on Friday, September 6th. They set an “underweight” rating and a $105.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $125.53.

Emerson Electric Price Performance

Shares of NYSE EMR traded up $8.46 during mid-day trading on Tuesday, reaching $118.27. The company had a trading volume of 2,323,438 shares, compared to its average volume of 2,683,999. Emerson Electric Co. has a one year low of $83.10 and a one year high of $119.61. The business’s 50-day simple moving average is $106.76 and its 200 day simple moving average is $108.86. 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 cap of $67.73 billion, a price-to-earnings ratio of 40.07, a PEG ratio of 1.66 and a beta of 1.30.

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

Emerson Electric Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Friday, August 16th were given a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a yield of 1.78%. The ex-dividend date was Friday, August 16th. Emerson Electric’s dividend payout ratio is 70.47%.

Emerson Electric 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.