Pictet Asset Management Ltd. Decreases Position in Emerson Electric Co. (NYSE:EMR)

Pictet Asset Management Ltd. decreased its holdings in shares of Emerson Electric Co. (NYSE:EMR) by 3.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 296,889 shares of the industrial products company’s stock after selling 9,300 shares during the quarter. Pictet Asset Management Ltd.’s holdings in Emerson Electric were worth $19,808,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of EMR. Glassman Wealth Services lifted its stake in Emerson Electric by 240.7% during the first quarter. Glassman Wealth Services now owns 402 shares of the industrial products company’s stock worth $28,000 after purchasing an additional 284 shares during the last quarter. Larson Financial Group LLC lifted its stake in Emerson Electric by 80.3% during the second quarter. Larson Financial Group LLC now owns 440 shares of the industrial products company’s stock worth $29,000 after purchasing an additional 196 shares during the last quarter. Westside Investment Management Inc. purchased a new stake in Emerson Electric during the second quarter worth approximately $34,000. Rational Advisors LLC purchased a new stake in Emerson Electric during the first quarter worth approximately $41,000. Finally, Lenox Wealth Management Inc. lifted its stake in Emerson Electric by 133.5% during the first quarter. Lenox Wealth Management Inc. now owns 787 shares of the industrial products company’s stock worth $54,000 after purchasing an additional 450 shares during the last quarter. Hedge funds and other institutional investors own 70.57% of the company’s stock.

EMR has been the subject of several recent analyst reports. Barclays restated a “hold” rating and set a $65.00 target price on shares of Emerson Electric in a research note on Wednesday, September 4th. Argus cut Emerson Electric from a “buy” rating to a “hold” rating in a research note on Tuesday, August 13th. Credit Suisse Group reduced their price objective on Emerson Electric from $74.00 to $70.00 and set an “outperform” rating for the company in a research note on Wednesday, August 7th. Deutsche Bank reduced their price objective on Emerson Electric from $74.00 to $73.00 and set a “buy” rating for the company in a research note on Monday, August 5th. Finally, Morgan Stanley reduced their price objective on Emerson Electric from $84.00 to $76.00 and set an “overweight” rating for the company in a research note on Thursday, August 8th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $72.29.

NYSE EMR traded up $1.17 on Friday, reaching $65.88. The stock had a trading volume of 904,284 shares, compared to its average volume of 2,925,920. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.85 and a current ratio of 1.18. Emerson Electric Co. has a 12-month low of $55.38 and a 12-month high of $79.70. The business’s 50-day moving average price is $60.81 and its 200 day moving average price is $65.41. The stock has a market cap of $40.10 billion, a P/E ratio of 19.49, a price-to-earnings-growth ratio of 2.17 and a beta of 1.35.

Emerson Electric (NYSE:EMR) last released its earnings results on Tuesday, August 6th. The industrial products company reported $0.94 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.94. The business had revenue of $4.68 billion for the quarter, compared to analyst estimates of $4.82 billion. Emerson Electric had a return on equity of 24.67% and a net margin of 12.06%. The company’s revenue for the quarter was up 5.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.12 earnings per share. On average, sell-side analysts predict that Emerson Electric Co. will post 3.64 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Friday, August 16th were issued a $0.49 dividend. This represents a $1.96 dividend on an annualized basis and a dividend yield of 2.98%. The ex-dividend date of this dividend was Thursday, August 15th. Emerson Electric’s payout ratio is currently 57.99%.

In other news, VP Bell Katherine Button sold 4,470 shares of the business’s stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $65.00, for a total value of $290,550.00. Following the transaction, the vice president now owns 18,040 shares of the company’s stock, valued at $1,172,600. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.07% of the company’s stock.

Emerson Electric Company Profile

Emerson Electric Co, a technology and engineering company, provides various solutions to industrial, commercial, and consumer markets worldwide. The company's Automation Solutions segment offers products and integrated solutions, including measurement and analytical instrumentation; valves, actuators, and regulators; industrial solutions; and process control systems and solutions.

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Institutional Ownership by Quarter for Emerson Electric (NYSE:EMR)

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