Emerson Electric Company (EMR) Stake Decreased by Oppenheimer & Co. Inc.
Oppenheimer & Co. Inc. cut its stake in Emerson Electric Company (NYSE:EMR) by 9.7% during the first quarter, Holdings Channel reports. The fund owned 50,104 shares of the industrial products company’s stock after selling 5,401 shares during the period. Oppenheimer & Co. Inc.’s holdings in Emerson Electric were worth $2,999,000 as of its most recent filing with the SEC.
Several other large investors have also modified their holdings of EMR. First Command Financial Services Inc. increased its position 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 during the last quarter. Central Bank & Trust Co. increased its position 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 during the last quarter. Guardian Life Insurance Co. of America increased its position in Emerson Electric by 1.1% in the first quarter. Guardian Life Insurance Co. of America now owns 2,491 shares of the industrial products company’s stock valued at $149,000 after buying an additional 28 shares during the last quarter. Milestone Group Inc. purchased a new position in Emerson Electric during the first quarter valued at approximately $201,000. Finally, Wedgewood Investors Inc. PA purchased a new position in Emerson Electric during the first quarter valued at approximately $204,000. Hedge funds and other institutional investors own 69.06% of the company’s stock.
Emerson Electric Company (NYSE EMR) traded down 0.42% during mid-day trading on Friday, hitting $58.89. The stock had a trading volume of 2,802,773 shares. The firm has a 50-day moving average of $59.83 and a 200-day moving average of $59.84. Emerson Electric Company has a 52-week low of $49.22 and a 52-week high of $64.36. The stock has a market cap of $37.69 billion, a P/E ratio of 26.28 and a beta of 1.20.
Emerson Electric (NYSE:EMR) last posted its earnings results on Tuesday, August 1st. The industrial products company reported $0.68 EPS for the quarter, meeting the consensus estimate of $0.68. The firm had revenue of $4.04 billion for the quarter, compared to analyst estimates of $3.99 billion. Emerson Electric had a return on equity of 22.32% and a net margin of 8.89%. Emerson Electric’s revenue for the quarter was up 9.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.68 earnings per share. On average, analysts forecast that Emerson Electric Company will post $2.61 EPS for the current fiscal 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 paid a $0.48 dividend. The ex-dividend date is Wednesday, August 9th. This represents a $1.92 annualized dividend and a yield of 3.26%. Emerson Electric’s dividend payout ratio is presently 85.33%.
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Several research analysts have commented on EMR shares. TheStreet upgraded Emerson Electric from a “c+” rating to a “b” rating in a report on Thursday, May 4th. Stifel Nicolaus restated a “buy” rating and set a $67.00 price objective (up from $65.00) on shares of Emerson Electric in a report on Monday, May 15th. Zacks Investment Research downgraded Emerson Electric from a “buy” rating to a “hold” rating in a report on Friday, May 5th. JMP Securities started coverage on Emerson Electric in a report on Monday, June 19th. They set an “outperform” rating and a $70.00 price objective on the stock. Finally, Morgan Stanley restated an “overweight” rating on shares of Emerson Electric in a report on Tuesday, July 11th. Three investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and three have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $58.14.
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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