Form 4 - Walter J. Galvin
FORM 4
[  ]  Check this box if no longer
       subject to Section 16. Form
       4 or Form 5 obligations
       may continue.
       See Instruction 1(b).
(Print or Type Responses)		 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

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(f) of the Investment Company Act of 1940		        OMB APPROVAL
OMB Number: 3235-0287
Expires: January 31, 2005
Estimated average burden
hours per response. . . .0.5
1. Name and Address of Reporting Person*

                      Galvin,   Walter   J.		 2. Issuer Name and Ticker or Trading Symbol

      Emerson Electric Co. — EMR 		6. Relationship of Reporting Person(s) to Issuer
                              (Check all applicable)
 X  Director                              ___ 10% Owner
 X  Officer (give title below)    ___ Other (specify below) 

       Executive Vice President - Finance
      and Chief Financial Officer
(Last)          (First)        (Middle)

c/o Emerson Electric Co.
8000 W. Florissant		 3. I.R.S. Identification
    Number of Reporting
    Person, if an entity
    (Voluntary)

 4. Statement for
    Month/Day/Year
     February 28, 2003
(Street)

St. Louis, Missouri 63136		 5. If Amendment,
    Date of Original
    (Month/Year)
 		7. 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
    Trans-
    action(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 
               113,839  D   
 
               75,139  I  W. J. Galvin Family Partnership 
 
               6,221.914  I  401(k) 
 
               1,753.757  I  401(k) excess plan 
 
               23,526  I  Spouse 
 
 2/10/03   G  V  250  A    3,150  I  Trust-Daughter Megan (1) 
 
               450  I  Daughter Megan - UGMA (1) 
 
 2/4/03   G  V  575  A    4,095  I  Trust - Son Greg (1) 
 
 2/10/03   G  V  250  D    0  I  Daughter Megan - (1) 
 
 2/4/03   G  V  450  A    4,113  I  Trust - Son Jeff (1) 

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4(b)(v).

  Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number. (Over)
SEC 1474 (9-02)
Form 4 (continued) 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
    Owned
    Following
    Reported
    Trans-
    action(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
Exerci-
sable		 Expira-
tion Date		 Title Amount or Number of Shares
 
                              
 
                              
 
                              
 
                              
 
                              
 
                              
 
                              
 
                              
 
                              

Explanation of Responses:

 (1)  Reporting person disclaims beneficial ownership.

      /s/ Harley M. Smith
   2/28/03
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).

   Harley M. Smith, Attorney-in-Fact
for Walter J. Galvin		   Date
    ** Signature of Reporting Person  
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.

        
Potential persons who are to respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.       Page 2