FORM 4 Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person * FARR DAVID N   2. Issuer Name and Ticker or Trading Symbol EMERSON ELECTRIC CO [EMR] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) __X__ Director _____ 10% Owner __X__ Officer (give title below) _____ Other (specify below) Chairman of Board, CEO & Pres. (Last) (First) (Middle) C/O EMERSON ELECTRIC CO., 8000 W. FLORISSANT 3. Date of Earliest Transaction (Month/Day/Year) 09/26/2006 (Street) ST. LOUIS, MO 63136 4. If Amendment, Date Original Filed(Month/Day/Year) 6. Individual or Joint/Group Filing(Check Applicable Line) _X_ Form filed by One Reporting Person ___ Form filed by More than One Reporting Person (City) (State) (Zip) Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned

1.Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4) Code V Amount (A) or (D) Price Common Stock 09/26/2006   M   6,702 (1) A $ 44.75 361,018 D   Common Stock 09/26/2006   F   3,701 (2) D $ 81.025 357,317 D   Common Stock 09/26/2006   M   10,742 (3) A $ 44.75 368,059 D   Common Stock 09/26/2006   F   5,932 (4) D $ 81.025 362,127 D   Common Stock 09/26/2006   F   1,560 (5) D $ 81.025 360,567 D   Common Stock               2,806.23 I 401(k) plan Common Stock               5,895.08 I 401(k) excess plan Common Stock               1,369 I Trust-Daughter Common Stock               1,369 I Trust-Son Common Stock               42,388 I Spouse

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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)

1. Title of Derivative Security (Instr. 3)

2. Conversion or Exercise Price of Derivative Security

3. Transaction Date (Month/Day/Year)

3A. Deemed Execution Date, if any (Month/Day/Year)

4. Transaction Code (Instr. 8)

5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5)

6. Date Exercisable and Expiration Date (Month/Day/Year)

7. Title and Amount of Underlying Securities (Instr. 3 and 4)

8. Price of Derivative Security (Instr. 5)

9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)

10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4)

11. Nature of Indirect Beneficial Ownership (Instr. 4)

Code

V

(A)

(D)

Date Exercisable

Expiration Date

Title

Amount or Number of Shares

Employee Stock Option (right to buy)

$ 44.75

09/26/2006

M

6,702

10/01/1997(6)

10/01/2006

Common Stock

6,702

$ 0

0

D

Employee Stock Option (right to buy)

$ 44.75

09/26/2006

M

10,742

10/01/1997(6)

10/01/2006

Common Stock

10,742

$ 0

0

D

Reporting Owners

Reporting Owner Name / Address	Relationships
	Director	10% Owner	Officer	Other
FARR DAVID N C/O EMERSON ELECTRIC CO. 8000 W. FLORISSANT ST. LOUIS, MO 63136	X		Chairman of Board, CEO & Pres.

Signatures

/s/ Timothy G. Westman, Attorney-in-Fact for David N. Farr		09/28/2006
**Signature of Reporting Person		Date

Explanation of Responses:

*	If the form is filed by more than one reporting person, see Instruction 4(b)(v).
**	Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1)	Exercise of incentive stock options exempt under Rule 16b-3.
(2)	Payment of option exercise price by delivering securities; 3,701 shares delivered for exercise of incentive stock options.
(3)	Exercise of non-qualified stock options exempt under Rule 16b-3.
(4)	Payment of option exercise price by delivering securities; 5,932 shares delivered for exercise of non-qualified stock options.
(5)	Shares withheld for taxes exempt under Rule 16b-3.
(6)	The options became exercisable in three annual installments beginning October 1, 1997.
Remarks: See Exhibit 24 - Power of Attorney

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