Everence Capital Management Inc. trimmed its position in shares of Emerson Electric Co. (NYSE:EMR) by 8.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 13,744 shares of the industrial products company’s stock after selling 1,329 shares during the quarter. Everence Capital Management Inc.’s holdings in Emerson Electric were worth $941,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors have also modified their holdings of the company. Alerus Financial NA boosted its stake in shares of Emerson Electric by 9.6% during the first quarter. Alerus Financial NA now owns 114,315 shares of the industrial products company’s stock valued at $7,828,000 after purchasing an additional 9,982 shares during the period. American International Group Inc. raised its holdings in shares of Emerson Electric by 0.9% during the first quarter. American International Group Inc. now owns 456,570 shares of the industrial products company’s stock valued at $31,261,000 after acquiring an additional 4,202 shares in the last quarter. Private Ocean LLC raised its holdings in shares of Emerson Electric by 41.7% during the first quarter. Private Ocean LLC now owns 3,400 shares of the industrial products company’s stock valued at $233,000 after acquiring an additional 1,000 shares in the last quarter. Sawyer & Company Inc raised its holdings in shares of Emerson Electric by 6.8% during the first quarter. Sawyer & Company Inc now owns 28,452 shares of the industrial products company’s stock valued at $1,948,000 after acquiring an additional 1,807 shares in the last quarter. Finally, Toronto Dominion Bank raised its holdings in shares of Emerson Electric by 16.0% during the first quarter. Toronto Dominion Bank now owns 466,467 shares of the industrial products company’s stock valued at $31,930,000 after acquiring an additional 64,216 shares in the last quarter. 70.52% of the stock is owned by institutional investors.
EMR has been the subject of a number of research reports. Citigroup upgraded Emerson Electric from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $67.00 to $81.00 in a report on Monday, April 8th. Zacks Investment Research raised Emerson Electric from a “hold” rating to a “buy” rating and set a $79.00 target price on the stock in a research note on Tuesday, April 2nd. Finally, Credit Suisse Group cut their target price on Emerson Electric from $80.00 to $74.00 and set an “outperform” rating on the stock in a research note on Wednesday, June 5th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and eleven have given a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $75.47.
Shares of Emerson Electric stock traded down $0.43 on Friday, reaching $62.77. The company had a trading volume of 2,822,200 shares, compared to its average volume of 3,337,998. Emerson Electric Co. has a 1 year low of $55.38 and a 1 year high of $79.70. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.76 and a current ratio of 1.07. The stock has a market cap of $38.56 billion, a price-to-earnings ratio of 18.57, a price-to-earnings-growth ratio of 2.00 and a beta of 1.30.
Emerson Electric (NYSE:EMR) last posted its quarterly earnings data on Tuesday, May 7th. The industrial products company reported $0.84 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.84. The company had revenue of $4.57 billion during the quarter, compared to analysts’ expectations of $4.64 billion. Emerson Electric had a return on equity of 24.63% and a net margin of 12.81%. Emerson Electric’s revenue was up 7.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.76 EPS. Sell-side analysts predict that Emerson Electric Co. will post 3.65 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Monday, June 10th. Shareholders of record on Friday, May 17th were given a dividend of $0.49 per share. This represents a $1.96 dividend on an annualized basis and a yield of 3.12%. The ex-dividend date was Thursday, May 16th. Emerson Electric’s dividend payout ratio (DPR) is presently 57.99%.
In other Emerson Electric news, VP Bell Katherine Button sold 15,791 shares of the business’s stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $63.91, for a total transaction of $1,009,202.81. Following the sale, the vice president now owns 30,304 shares in the company, valued at approximately $1,936,728.64. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Michael H. Train sold 12,278 shares of the company’s stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $63.80, for a total value of $783,336.40. Following the completion of the sale, the insider now owns 129,298 shares in the company, valued at approximately $8,249,212.40. The disclosure for this sale can be found here. Insiders own 0.07% of the company’s stock.
Emerson Electric Company Profile
Emerson Electric Co, a technology and engineering company, provides various solutions to industrial, commercial, and consumer markets worldwide. The company's Automation Solutions segment offers products and integrated solutions, including measurement and analytical instrumentation; valves, actuators, and regulators; industrial solutions; and process control systems and solutions.
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