Montecito Bank & Trust Takes $1.44 Million Position in Emerson Electric Co. $EMR

Montecito Bank & Trust bought a new position in Emerson Electric Co. (NYSE:EMR) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 10,940 shares of the industrial products company’s stock, valued at approximately $1,435,000.

A number of other large investors have also added to or reduced their stakes in the company. Darwin Wealth Management LLC purchased a new position in shares of Emerson Electric in the 2nd quarter worth about $29,000. Saudi Central Bank bought a new stake in Emerson Electric in the 1st quarter worth approximately $25,000. Winnow Wealth LLC purchased a new stake in Emerson Electric in the second quarter worth approximately $34,000. PFS Partners LLC grew its position in Emerson Electric by 65.9% during the second quarter. PFS Partners LLC now owns 272 shares of the industrial products company’s stock valued at $36,000 after acquiring an additional 108 shares during the last quarter. Finally, Traub Capital Management LLC bought a new stake in shares of Emerson Electric in the 2nd quarter worth approximately $37,000. Hedge funds and other institutional investors own 74.30% of the company’s stock.

Insider Buying and Selling at Emerson Electric

In related news, CEO Surendralal Lanca Karsanbhai sold 7,263 shares of the business’s stock in a transaction dated Wednesday, December 3rd. The shares were sold at an average price of $133.00, for a total transaction of $965,979.00. Following the transaction, the chief executive officer owned 196,292 shares in the company, valued at $26,106,836. The trade was a 3.57% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.50% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on EMR. Daiwa Capital Markets increased their target price on shares of Emerson Electric from $150.00 to $153.00 and gave the company an “outperform” rating in a report on Wednesday, September 24th. Royal Bank Of Canada reduced their price objective on Emerson Electric from $155.00 to $153.00 and set an “outperform” rating on the stock in a research note on Thursday, November 6th. Wells Fargo & Company reissued an “equal weight” rating and issued a $140.00 target price (down previously from $150.00) on shares of Emerson Electric in a research note on Monday, October 6th. JPMorgan Chase & Co. reduced their price target on Emerson Electric from $151.00 to $150.00 and set a “neutral” rating on the stock in a research report on Monday, November 10th. Finally, Evercore ISI initiated coverage on Emerson Electric in a research report on Monday. They issued an “outperform” rating and a $170.00 price objective for the company. Two analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $149.06.

Emerson Electric Trading Down 1.8%

EMR opened at $131.67 on Thursday. Emerson Electric Co. has a one year low of $90.06 and a one year high of $150.27. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.88 and a quick ratio of 0.65. The business has a 50 day simple moving average of $132.29 and a two-hundred day simple moving average of $133.39. The firm has a market capitalization of $74.04 billion, a price-to-earnings ratio of 32.59, a PEG ratio of 2.19 and a beta of 1.26.

Emerson Electric (NYSE:EMR) last posted its earnings results on Thursday, April 6th. The industrial products company reported $0.79 earnings per share (EPS) for the quarter. Emerson Electric had a return on equity of 15.87% and a net margin of 12.73%.The firm had revenue of $3.16 billion for the quarter. Analysts predict that Emerson Electric Co. will post 5.96 EPS for the current year.

Emerson Electric declared that its board has authorized a share repurchase program on Wednesday, November 5th that permits the company to buyback $0.00 in outstanding shares. This buyback authorization permits the industrial products company to buy shares of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board believes its shares are undervalued.

Emerson Electric Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 10th. Stockholders of record on Friday, November 14th were given a $0.555 dividend. The ex-dividend date of this dividend was Friday, November 14th. This represents a $2.22 annualized dividend and a dividend yield of 1.7%. This is a positive change from Emerson Electric’s previous quarterly dividend of $0.53. Emerson Electric’s dividend payout ratio is 54.95%.

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.