Emerson Electric Company (NYSE:EMR) Shares Sold by Shoker Investment Counsel Inc.
Shoker Investment Counsel Inc. cut its stake in shares of Emerson Electric Company (NYSE:EMR) by 3.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 23,823 shares of the industrial products company’s stock after selling 854 shares during the period. Emerson Electric comprises approximately 1.2% of Shoker Investment Counsel Inc.’s investment portfolio, making the stock its 27th largest position. Shoker Investment Counsel Inc.’s holdings in Emerson Electric were worth $1,426,000 at the end of the most recent reporting period.
Several other large investors have also recently bought and sold shares of the stock. First Command Financial Services Inc. increased its stake in Emerson Electric by 18.9% in the first quarter. First Command Financial Services Inc. now owns 1,935 shares of the industrial products company’s stock valued at $116,000 after buying an additional 307 shares in the last quarter. Central Bank & Trust Co. increased its stake in Emerson Electric by 31.3% in the first quarter. Central Bank & Trust Co. now owns 2,100 shares of the industrial products company’s stock valued at $126,000 after buying an additional 500 shares in the last quarter. Milestone Group Inc. purchased a new stake in Emerson Electric during the first quarter valued at about $201,000. Wedgewood Investors Inc. PA purchased a new stake in Emerson Electric during the first quarter valued at about $204,000. Finally, Garrison Bradford & Associates Inc. purchased a new stake in Emerson Electric during the first quarter valued at about $204,000. Hedge funds and other institutional investors own 69.06% of the company’s stock.
Emerson Electric Company (EMR) opened at 61.15 on Monday. The stock’s 50 day moving average price is $59.79 and its 200 day moving average price is $59.74. Emerson Electric Company has a 52-week low of $49.22 and a 52-week high of $64.36. The firm has a market capitalization of $39.37 billion, a PE ratio of 27.29 and a beta of 1.20.
Emerson Electric (NYSE:EMR) last released its quarterly earnings data on Tuesday, August 1st. The industrial products company reported $0.68 EPS for the quarter, meeting the consensus estimate of $0.68. Emerson Electric had a return on equity of 22.32% and a net margin of 8.89%. The company had revenue of $4.04 billion for the quarter, compared to analyst estimates of $3.99 billion. During the same period last year, the company posted $0.68 earnings per share. The firm’s revenue was up 9.9% compared to the same quarter last year. Analysts expect that Emerson Electric Company will post $2.61 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 11th. Shareholders of record on Friday, August 11th will be given a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 3.14%. The ex-dividend date is Wednesday, August 9th. Emerson Electric’s dividend payout ratio (DPR) is presently 85.33%.
Several equities research analysts recently issued reports on the company. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $62.00 price objective (up previously from $61.00) on shares of Emerson Electric in a report on Wednesday, August 2nd. BidaskClub downgraded Emerson Electric from a “hold” rating to a “sell” rating in a report on Friday, July 28th. Cowen and Company reiterated a “hold” rating and issued a $62.00 price objective on shares of Emerson Electric in a report on Tuesday, April 25th. Stifel Nicolaus reiterated a “buy” rating and issued a $68.00 price objective on shares of Emerson Electric in a report on Wednesday, July 19th. Finally, Morgan Stanley reiterated an “overweight” rating on shares of Emerson Electric in a report on Tuesday, July 11th. Three analysts have rated the stock with a sell rating, fourteen have issued a hold rating and three have issued a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $57.48.
About Emerson Electric
Emerson Electric Co is a diversified global manufacturing company, which provides solutions to customers by bringing technology and engineering together in the industrial, commercial and consumer markets around the world. The Company operates through four segments based on the nature of the products and services rendered: Process Management, Industrial Automation, Climate Technologies and Commercial & Residential Solutions.
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