Wedge Capital Management L L P NC Has $12.66 Million Stock Holdings in Emerson Electric Co. (NYSE:EMR)

Wedge Capital Management L L P NC trimmed its stake in Emerson Electric Co. (NYSE:EMR) by 3.0% in the fourth quarter, Holdings Channel reports. The firm owned 130,059 shares of the industrial products company’s stock after selling 4,040 shares during the quarter. Wedge Capital Management L L P NC’s holdings in Emerson Electric were worth $12,659,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Tobam grew its stake in Emerson Electric by 2,275.0% in the fourth quarter. Tobam now owns 285 shares of the industrial products company’s stock valued at $28,000 after purchasing an additional 273 shares in the last quarter. Tennessee Valley Asset Management Partners bought a new position in shares of Emerson Electric during the 4th quarter worth approximately $35,000. Morton Brown Family Wealth LLC bought a new position in shares of Emerson Electric during the 4th quarter worth approximately $39,000. MCF Advisors LLC boosted its stake in shares of Emerson Electric by 1,484.6% during the 4th quarter. MCF Advisors LLC now owns 412 shares of the industrial products company’s stock worth $40,000 after acquiring an additional 386 shares during the period. Finally, Authentikos Wealth Advisory LLC bought a new position in shares of Emerson Electric during the 3rd quarter worth approximately $42,000. 74.30% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Emerson Electric

In related news, Director Mark A. Blinn sold 2,413 shares of the firm’s stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $103.18, for a total value of $248,973.34. Following the transaction, the director now owns 9,591 shares of the company’s stock, valued at $989,599.38. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.25% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several analysts recently issued reports on EMR shares. Berenberg Bank boosted their price target on Emerson Electric from $100.00 to $130.00 and gave the company a “buy” rating in a research note on Wednesday, March 6th. Bank of America boosted their price target on Emerson Electric from $120.00 to $130.00 and gave the company a “buy” rating in a research note on Monday, March 4th. Royal Bank of Canada lifted their price objective on Emerson Electric from $106.00 to $120.00 and gave the company an “outperform” rating in a report on Thursday, February 8th. Citigroup lifted their price objective on Emerson Electric from $120.00 to $133.00 and gave the company a “buy” rating in a report on Monday, April 8th. Finally, UBS Group lifted their price objective on Emerson Electric from $95.00 to $120.00 and gave the company a “neutral” rating in a report on Thursday, March 21st. Three research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $116.25.

Emerson Electric Price Performance

Shares of NYSE:EMR traded up $0.95 during trading on Tuesday, reaching $109.58. The company had a trading volume of 195,727 shares, compared to its average volume of 2,616,184. The company has a fifty day moving average of $110.06 and a two-hundred day moving average of $98.94. The stock has a market capitalization of $62.55 billion, a P/E ratio of 5.66, a price-to-earnings-growth ratio of 1.88 and a beta of 1.37. Emerson Electric Co. has a 12 month low of $76.94 and a 12 month high of $115.26. The company has a current ratio of 1.12, a quick ratio of 0.80 and a debt-to-equity ratio of 0.29.

Emerson Electric (NYSE:EMR) last announced its quarterly earnings data on Wednesday, February 7th. The industrial products company reported $1.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.04 by $0.18. Emerson Electric had a net margin of 69.33% and a return on equity of 11.59%. The company had revenue of $4.12 billion during the quarter, compared to analysts’ expectations of $3.91 billion. During the same quarter in the prior year, the company earned $0.78 EPS. The firm’s revenue was up 22.1% on a year-over-year basis. Equities research analysts forecast that Emerson Electric Co. will post 5.4 earnings per share for the current year.

Emerson Electric Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 11th. Shareholders of record on Friday, February 16th were paid a dividend of $0.525 per share. The ex-dividend date of this dividend was Thursday, February 15th. This represents a $2.10 dividend on an annualized basis and a yield of 1.92%. Emerson Electric’s dividend payout ratio is currently 10.94%.

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.