Hemenway Trust Co LLC Cuts Stake in Emerson Electric Company (EMR)
Hemenway Trust Co LLC cut its position in Emerson Electric Company (NYSE:EMR) by 3.8% during the second quarter, Holdings Channel reports. The firm owned 63,435 shares of the industrial products company’s stock after selling 2,500 shares during the period. Hemenway Trust Co LLC’s holdings in Emerson Electric were worth $3,782,000 at the end of the most recent quarter.
A number of other hedge funds have also added to or reduced their stakes in EMR. First Command Financial Services Inc. raised 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 worth $116,000 after buying an additional 307 shares during the period. Central Bank & Trust Co. raised 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 worth $126,000 after buying an additional 500 shares during the period. Oppenheimer Asset Management Inc. acquired a new stake in Emerson Electric during the first quarter worth $127,000. Harbour Capital Advisors LLC acquired a new stake in Emerson Electric during the first quarter worth $147,000. Finally, Guardian Life Insurance Co. of America raised its stake 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 worth $149,000 after buying an additional 28 shares during the period. 69.06% of the stock is owned by institutional investors.
Shares of Emerson Electric Company (NYSE EMR) traded down 0.42% during trading on Friday, hitting $58.89. 2,802,773 shares of the company traded hands. The stock has a market capitalization of $37.69 billion, a PE ratio of 26.28 and a beta of 1.20. Emerson Electric Company has a 52-week low of $49.22 and a 52-week high of $64.36. The company has a 50-day moving average of $59.83 and a 200-day moving average of $59.84.
Emerson Electric (NYSE:EMR) last posted its earnings results on Tuesday, August 1st. The industrial products company reported $0.68 earnings per share for the quarter, hitting the consensus estimate of $0.68. The firm had revenue of $4.04 billion during the quarter, compared to analysts’ expectations of $3.99 billion. Emerson Electric had a return on equity of 22.32% and a net margin of 8.89%. The firm’s revenue was up 9.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.68 earnings per share. Equities analysts expect that Emerson Electric Company will post $2.61 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, September 11th. Investors of record on Friday, August 11th will be paid a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a yield of 3.26%. The ex-dividend date is Wednesday, August 9th. Emerson Electric’s payout ratio is 85.33%.
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A number of research firms recently weighed in on EMR. Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $62.00 price objective (up from $61.00) on shares of Emerson Electric in a research note on Wednesday, August 2nd. Berenberg Bank reaffirmed a “sell” rating and issued a $53.00 price objective on shares of Emerson Electric in a research note on Friday. Cowen and Company reaffirmed a “hold” rating and issued a $62.00 price objective on shares of Emerson Electric in a research note on Tuesday, April 25th. BidaskClub lowered shares of Emerson Electric from a “hold” rating to a “sell” rating in a research note on Friday, July 28th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and issued a $68.00 price objective on shares of Emerson Electric in a research note on Wednesday, July 19th. Three equities research 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. The stock 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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