Emerson Electric Co. (EMR) Shares Sold by Capstone Asset Management Co.
Capstone Asset Management Co. reduced its stake in shares of Emerson Electric Co. (NYSE:EMR) by 0.1% during the third quarter, Holdings Channel reports. The fund owned 332,446 shares of the company’s stock after selling 450 shares during the period. Capstone Asset Management Co.’s holdings in Emerson Electric were worth $18,122,000 as of its most recent SEC filing.
Several other institutional investors also recently made changes to their positions in the stock. M&R Capital Management Inc. bought a new position in shares of Emerson Electric during the second quarter valued at approximately $103,000. Arcadia Investment Management Corp MI raised its position in shares of Emerson Electric by 11.4% in the second quarter. Arcadia Investment Management Corp MI now owns 2,281 shares of the company’s stock valued at $119,000 after buying an additional 234 shares during the last quarter. Americafirst Capital Management LLC bought a new position in shares of Emerson Electric during the second quarter valued at approximately $128,000. Integrated Investment Consultants LLC increased its position in shares of Emerson Electric by 99.5% in the second quarter. Integrated Investment Consultants LLC now owns 2,530 shares of the company’s stock valued at $132,000 after buying an additional 1,262 shares during the period. Finally, TCI Wealth Advisors Inc. increased its position in shares of Emerson Electric by 90.6% in the second quarter. TCI Wealth Advisors Inc. now owns 2,524 shares of the company’s stock valued at $132,000 after buying an additional 1,200 shares during the period. 70.17% of the stock is owned by hedge funds and other institutional investors.
Shares of Emerson Electric Co. (NYSE:EMR) traded down 0.18% during mid-day trading on Tuesday, reaching $54.33. 966,778 shares of the company traded hands. The stock has a market capitalization of $34.92 billion, a price-to-earnings ratio of 21.56 and a beta of 1.14. The company’s 50 day moving average is $51.98 and its 200 day moving average is $52.79. Emerson Electric Co. has a 52-week low of $41.25 and a 52-week high of $56.82.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 9th. Investors of record on Friday, November 11th will be issued a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 3.53%. The ex-dividend date of this dividend is Tuesday, November 8th. This is a positive change from Emerson Electric’s previous quarterly dividend of $0.48. Emerson Electric’s dividend payout ratio is currently 76.19%.
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EMR has been the topic of several research reports. Vetr downgraded shares of Emerson Electric from a “sell” rating to a “strong sell” rating and set a $47.31 price target on the stock. in a report on Monday, October 3rd. Credit Suisse Group AG downgraded shares of Emerson Electric from an “outperform” rating to a “neutral” rating and set a $57.00 price target on the stock. in a report on Friday, August 19th. They noted that the move was a valuation call. JPMorgan Chase & Co. reiterated a “neutral” rating on shares of Emerson Electric in a report on Monday, September 26th. Morgan Stanley reiterated a “hold” rating and issued a $50.00 price target on shares of Emerson Electric in a report on Monday, August 29th. Finally, Berenberg Bank initiated coverage on shares of Emerson Electric in a report on Monday, October 3rd. They issued a “sell” rating and a $41.00 price target on the stock. Seven analysts have rated the stock with a sell rating, sixteen have issued a hold rating and three have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $51.75.
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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