Emerson Electric Co. (EMR) Position Cut by Retirement Systems of Alabama
Retirement Systems of Alabama lowered its position in Emerson Electric Co. (NYSE:EMR) by 31.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 327,988 shares of the company’s stock after selling 147,235 shares during the period. Retirement Systems of Alabama’s holdings in Emerson Electric were worth $17,108,000 as of its most recent filing with the SEC.
A number of other large investors have also added to or reduced their stakes in EMR. Legal & General Group Plc raised its stake in Emerson Electric by 4.0% in the first quarter. Legal & General Group Plc now owns 3,131,579 shares of the company’s stock worth $170,297,000 after buying an additional 120,455 shares during the period. John G Ullman & Associates Inc. raised its stake in Emerson Electric by 14.3% in the second quarter. John G Ullman & Associates Inc. now owns 341,288 shares of the company’s stock worth $17,802,000 after buying an additional 42,600 shares during the period. Babson Capital Management LLC raised its stake in Emerson Electric by 833.7% in the first quarter. Babson Capital Management LLC now owns 42,222 shares of the company’s stock worth $2,296,000 after buying an additional 37,700 shares during the period. Capstone Asset Management Co. raised its stake in Emerson Electric by 1.2% in the second quarter. Capstone Asset Management Co. now owns 332,896 shares of the company’s stock worth $17,364,000 after buying an additional 3,971 shares during the period. Finally, Farmers & Merchants Investments Inc. raised its stake in Emerson Electric by 4.4% in the second quarter. Farmers & Merchants Investments Inc. now owns 64,288 shares of the company’s stock worth $3,353,000 after buying an additional 2,695 shares during the period. Institutional investors and hedge funds own 69.40% of the company’s stock.
Shares of Emerson Electric Co. (NYSE:EMR) traded up 2.81% during trading on Friday, hitting $54.51. The stock had a trading volume of 7,460,094 shares. The company has a market capitalization of $35.08 billion, a P/E ratio of 19.30 and a beta of 1.23. The firm has a 50-day moving average of $52.81 and a 200 day moving average of $53.41. Emerson Electric Co. has a 1-year low of $41.25 and a 1-year high of $56.82.
Emerson Electric (NYSE:EMR) last issued its quarterly earnings data on Tuesday, August 2nd. The company reported $0.80 earnings per share for the quarter, missing the consensus estimate of $0.84 by $0.04. Emerson Electric had a return on equity of 24.63% and a net margin of 8.96%. The business earned $5.10 billion during the quarter, compared to the consensus estimate of $5.34 billion. Equities research analysts predict that Emerson Electric Co. will post $2.92 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 9th. Investors of record on Friday, August 12th were paid a $0.475 dividend. The ex-dividend date of this dividend was Wednesday, August 10th. This represents a $1.90 annualized dividend and a dividend yield of 3.49%. Emerson Electric’s dividend payout ratio is 67.38%.
EMR has been the topic of a number of research analyst reports. Buckingham Research lowered Emerson Electric from a “neutral” rating to an “underperform” rating and decreased their price target for the stock from $49.00 to $44.00 in a research report on Friday, August 19th. Deutsche Bank AG restated a “hold” rating and set a $53.00 price target on shares of Emerson Electric in a research report on Thursday, August 25th. Credit Suisse Group AG lowered Emerson Electric from an “outperform” rating to a “neutral” rating and set a $57.00 price target on the stock. in a research report on Friday, August 19th. They noted that the move was a valuation call. Bank of America Corp. restated a “sell” rating on shares of Emerson Electric in a research report on Wednesday, June 22nd. Finally, Oppenheimer Holdings Inc. restated a “hold” rating on shares of Emerson Electric in a research report on Wednesday, June 22nd. Five investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and four have given a buy rating to the company. Emerson Electric presently has a consensus rating of “Hold” and an average target price of $52.82.
Emerson Electric Company Profile
Emerson Electric Co is engaged in offering technology and engineering together that provides solutions for customers in industrial, commercial, and consumer markets around the world. The company operates through five business segments: Process Management, Industrial Automation, Network Power, Climate Technologies, and Commercial & Residential Solutions.
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