Griffin Asset Management Inc. Grows Stake in Emerson Electric Co. (NYSE:EMR)

Griffin Asset Management Inc. raised its stake in Emerson Electric Co. (NYSE:EMR) by 52.3% during the third quarter, Holdings Channel reports. The fund owned 19,322 shares of the industrial products company’s stock after buying an additional 6,633 shares during the period. Griffin Asset Management Inc.’s holdings in Emerson Electric were worth $2,113,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Transcendent Capital Group LLC bought a new stake in shares of Emerson Electric in the first quarter valued at approximately $31,000. Meeder Asset Management Inc. raised its position in shares of Emerson Electric by 361.5% in the second quarter. Meeder Asset Management Inc. now owns 300 shares of the industrial products company’s stock valued at $33,000 after purchasing an additional 235 shares during the period. Tributary Capital Management LLC bought a new stake in shares of Emerson Electric in the first quarter valued at approximately $35,000. Rise Advisors LLC bought a new stake in Emerson Electric during the 1st quarter worth approximately $36,000. Finally, Versant Capital Management Inc increased its holdings in Emerson Electric by 471.9% during the 2nd quarter. Versant Capital Management Inc now owns 326 shares of the industrial products company’s stock worth $36,000 after acquiring an additional 269 shares during the period. 74.30% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Barclays decreased 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 report on Thursday, August 8th. Royal Bank of Canada decreased their target price on shares of Emerson Electric from $140.00 to $139.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. JPMorgan Chase & Co. lowered shares of Emerson Electric from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $132.00 to $115.00 in a report on Wednesday, August 14th. Morgan Stanley started coverage on shares of Emerson Electric in a research note on Friday, September 6th. They issued an “underweight” rating and a $105.00 price target for the company. Finally, Oppenheimer boosted their price target on shares of Emerson Electric from $120.00 to $125.00 and gave the stock an “outperform” rating in a research note on Thursday, September 26th. One 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’s stock. According to MarketBeat.com, Emerson Electric presently has a consensus rating of “Moderate Buy” and a consensus target price of $125.47.

Emerson Electric Price Performance

Shares of Emerson Electric stock opened at $109.24 on Wednesday. Emerson Electric Co. has a 52-week low of $83.10 and a 52-week high of $119.53. The stock has a market capitalization of $62.50 billion, a price-to-earnings ratio of 5.84, a price-to-earnings-growth ratio of 1.70 and a beta of 1.30. The company has a fifty day moving average of $105.18 and a 200-day moving average of $109.21. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.86 and a current ratio of 1.16.

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

Emerson Electric Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Friday, August 16th were given a dividend of $0.525 per share. The ex-dividend date was Friday, August 16th. This represents a $2.10 annualized dividend and a yield of 1.92%. Emerson Electric’s payout ratio is currently 11.24%.

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.