Mattern Capital Management LLC Cuts Stock Holdings in Emerson Electric Co. (NYSE:EMR)

Mattern Capital Management LLC decreased its position in shares of Emerson Electric Co. (NYSE:EMR) by 0.2% during the third quarter, HoldingsChannel reports. The institutional investor owned 83,432 shares of the industrial products company’s stock after selling 165 shares during the period. Mattern Capital Management LLC’s holdings in Emerson Electric were worth $9,125,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in EMR. Newport Trust Company LLC bought a new position in Emerson Electric during the second quarter valued at approximately $574,908,000. Legal & General Group Plc lifted its position in Emerson Electric by 5.2% during the second quarter. Legal & General Group Plc now owns 4,510,496 shares of the industrial products company’s stock valued at $496,877,000 after purchasing an additional 224,784 shares during the period. DekaBank Deutsche Girozentrale lifted its position in Emerson Electric by 3.3% during the third quarter. DekaBank Deutsche Girozentrale now owns 2,738,701 shares of the industrial products company’s stock valued at $297,653,000 after purchasing an additional 88,294 shares during the period. Swedbank AB lifted its position in Emerson Electric by 127.3% during the third quarter. Swedbank AB now owns 2,544,439 shares of the industrial products company’s stock valued at $278,285,000 after purchasing an additional 1,424,800 shares during the period. Finally, Dimensional Fund Advisors LP lifted its position in Emerson Electric by 17.7% during the second quarter. Dimensional Fund Advisors LP now owns 2,358,796 shares of the industrial products company’s stock valued at $259,809,000 after purchasing an additional 355,106 shares during the period. Hedge funds and other institutional investors own 74.30% of the company’s stock.

Emerson Electric Stock Down 0.1 %

Shares of EMR stock opened at $108.13 on Friday. The stock has a market cap of $61.93 billion, a P/E ratio of 36.29, a PEG ratio of 1.68 and a beta of 1.30. Emerson Electric Co. has a 52 week low of $83.10 and a 52 week high of $119.53. The company has a quick ratio of 0.86, a current ratio of 1.16 and a debt-to-equity ratio of 0.27. The company’s fifty day simple moving average is $106.19 and its two-hundred day simple moving average is $109.00.

Emerson Electric (NYSE:EMR) last announced its quarterly earnings results on Wednesday, August 7th. The industrial products company reported $1.43 EPS for the quarter, topping the consensus estimate of $1.42 by $0.01. The business had revenue of $4.38 billion for 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 business’s quarterly revenue was up 11.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.29 EPS. Analysts predict that Emerson Electric Co. will post 5.48 EPS for the current fiscal year.

Emerson Electric Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Friday, August 16th were issued a $0.525 dividend. The ex-dividend date of this dividend was Friday, August 16th. This represents a $2.10 dividend on an annualized basis and a dividend yield of 1.94%. Emerson Electric’s dividend payout ratio (DPR) is presently 70.47%.

Analyst Ratings Changes

A number of research analysts recently weighed in on EMR shares. Morgan Stanley initiated coverage on shares of Emerson Electric in a research report on Friday, September 6th. They set an “underweight” rating and a $105.00 price objective on the stock. StockNews.com downgraded shares of Emerson Electric from a “buy” rating to a “hold” rating in a research report on Thursday, July 25th. Oppenheimer increased their price target on shares of Emerson Electric from $120.00 to $125.00 and gave the stock an “outperform” rating in a research report on Thursday, September 26th. Barclays decreased their price target on shares of Emerson Electric from $110.00 to $103.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 8th. Finally, Redburn Atlantic initiated coverage on shares of Emerson Electric in a research report on Monday, July 8th. They issued a “buy” rating and a $135.00 price target on the stock. 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. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $125.47.

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.