Mattern Wealth Management LLC Sells 9,867 Shares of Emerson Electric Co. (NYSE:EMR)

Mattern Wealth Management LLC cut its position in shares of Emerson Electric Co. (NYSE:EMR) by 38.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 15,811 shares of the industrial products company’s stock after selling 9,867 shares during the period. Mattern Wealth Management LLC’s holdings in Emerson Electric were worth $1,729,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. Sky Investment Group LLC boosted its holdings in shares of Emerson Electric by 5.8% in the 3rd quarter. Sky Investment Group LLC now owns 62,879 shares of the industrial products company’s stock valued at $6,877,000 after acquiring an additional 3,471 shares during the last quarter. Plimoth Trust Co. LLC boosted its stake in shares of Emerson Electric by 9.3% in the third quarter. Plimoth Trust Co. LLC now owns 22,575 shares of the industrial products company’s stock valued at $2,469,000 after purchasing an additional 1,914 shares during the period. Northwest Investment Counselors LLC lifted its stake in Emerson Electric by 0.7% in the third quarter. Northwest Investment Counselors LLC now owns 51,565 shares of the industrial products company’s stock worth $5,640,000 after acquiring an additional 336 shares during the last quarter. Livelsberger Financial Advisory purchased a new stake in Emerson Electric in the 3rd quarter valued at $109,000. Finally, Everence Capital Management Inc. grew its stake in shares of Emerson Electric by 12.8% during the 3rd quarter. Everence Capital Management Inc. now owns 31,994 shares of the industrial products company’s stock worth $3,499,000 after purchasing an additional 3,630 shares during the period. 74.30% of the stock is owned by hedge funds and other institutional investors.

Emerson Electric Stock Performance

Shares of NYSE:EMR traded down $1.06 during trading on Tuesday, hitting $109.35. 568,312 shares of the company traded hands, compared to its average volume of 2,692,691. Emerson Electric Co. has a one year low of $83.10 and a one year high of $119.53. The stock has a market capitalization of $62.56 billion, a price-to-earnings ratio of 5.91, a PEG ratio of 1.70 and a beta of 1.30. The business’s fifty day moving average is $105.80 and its 200-day moving average is $109.13. The company has a quick ratio of 0.86, a current ratio of 1.16 and a debt-to-equity ratio of 0.27.

Emerson Electric (NYSE:EMR) last released its earnings results on Wednesday, August 7th. The industrial products company reported $1.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.42 by $0.01. The company had revenue of $4.38 billion during the quarter, compared to analyst estimates of $4.44 billion. Emerson Electric had a return on equity of 11.41% and a net margin of 10.12%. The company’s revenue for the quarter was up 11.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.29 earnings per share. As a group, equities analysts predict that Emerson Electric Co. will post 5.48 earnings per share for the current fiscal year.

Emerson Electric Announces Dividend

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

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on EMR. Redburn Atlantic initiated coverage on shares of Emerson Electric in a research note on Monday, July 8th. They set a “buy” rating and a $135.00 price objective on the stock. Wells Fargo & Company lowered their price target on Emerson Electric from $137.00 to $128.00 and set an “overweight” rating for the company in a research note on Thursday, August 8th. Royal Bank of Canada lowered their price objective on Emerson Electric from $140.00 to $139.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. Morgan Stanley assumed coverage on Emerson Electric in a report on Friday, September 6th. They set an “underweight” rating and a $105.00 target price on the stock. Finally, Stephens downgraded Emerson Electric from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $135.00 to $120.00 in a report on Wednesday, October 16th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $125.47.

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.