Montecito Bank & Trust Purchases 286 Shares of Emerson Electric Co. (NYSE:EMR)

Montecito Bank & Trust boosted its position in Emerson Electric Co. (NYSE:EMR) by 2.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 11,320 shares of the industrial products company’s stock after purchasing an additional 286 shares during the period. Montecito Bank & Trust’s holdings in Emerson Electric were worth $1,238,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of EMR. Newport Trust Company LLC purchased a new position in Emerson Electric during the 2nd quarter valued at $574,908,000. Legal & General Group Plc grew its holdings in shares of Emerson Electric by 5.2% in the second quarter. Legal & General Group Plc now owns 4,510,496 shares of the industrial products company’s stock worth $496,877,000 after purchasing an additional 224,784 shares during the last quarter. Van ECK Associates Corp lifted its holdings in Emerson Electric by 107.2% during the 3rd quarter. Van ECK Associates Corp now owns 3,896,889 shares of the industrial products company’s stock valued at $422,852,000 after buying an additional 2,016,075 shares in the last quarter. DekaBank Deutsche Girozentrale boosted its position in Emerson Electric by 3.3% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 2,738,701 shares of the industrial products company’s stock valued at $297,653,000 after buying an additional 88,294 shares during the period. Finally, Swedbank AB increased its position in shares of Emerson Electric by 127.3% during the third quarter. Swedbank AB now owns 2,544,439 shares of the industrial products company’s stock worth $278,285,000 after acquiring an additional 1,424,800 shares during the period. Institutional investors own 74.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on EMR. Stephens lowered shares of Emerson Electric from an “overweight” rating to an “equal weight” rating and lowered their price objective for the stock from $135.00 to $120.00 in a research note on Wednesday, October 16th. KeyCorp boosted their price objective on shares of Emerson Electric from $125.00 to $140.00 and gave the stock an “overweight” rating in a research note on Wednesday. JPMorgan Chase & Co. lowered shares of Emerson Electric from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $132.00 to $115.00 in a report on Wednesday, August 14th. Wells Fargo & Company increased their price objective on Emerson Electric from $128.00 to $135.00 and gave the company an “overweight” rating in a report on Wednesday. Finally, Morgan Stanley started coverage on Emerson Electric in a research report on Friday, September 6th. They set an “underweight” rating and a $105.00 target price on the stock. One research analyst has rated the stock with a sell rating, five have given a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $127.65.

Emerson Electric Trading Up 7.8 %

Shares of Emerson Electric stock opened at $126.86 on Thursday. The stock has a market cap of $72.65 billion, a PE ratio of 42.57, a price-to-earnings-growth ratio of 1.68 and a beta of 1.30. The firm has a fifty day moving average price of $107.50 and a 200 day moving average price of $109.05. Emerson Electric Co. has a 1 year low of $83.10 and a 1 year high of $127.74. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.16 and a quick ratio of 0.86.

Emerson Electric (NYSE:EMR) last issued its quarterly earnings data on Wednesday, August 7th. The industrial products company reported $1.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.42 by $0.01. The business had revenue of $4.38 billion during the quarter, compared to analysts’ expectations 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 previous year, the firm posted $1.29 EPS. Equities research analysts predict that Emerson Electric Co. will post 5.48 earnings per share for the current year.

Emerson Electric Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Friday, November 15th will be paid a dividend of $0.5275 per share. This is a boost from Emerson Electric’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend is Friday, November 15th. This represents a $2.11 dividend on an annualized basis and a dividend yield of 1.66%. Emerson Electric’s dividend payout ratio (DPR) is presently 70.47%.

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.