Cohen Lawrence B Decreases Stake in Emerson Electric Company (EMR)
Cohen Lawrence B decreased its stake in Emerson Electric Company (NYSE:EMR) by 2.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 11,803 shares of the industrial products company’s stock after selling 350 shares during the period. Cohen Lawrence B’s holdings in Emerson Electric were worth $704,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also bought and sold shares 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 period. Central Bank & Trust Co. boosted its position in shares of 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. Oppenheimer Asset Management Inc. purchased a new position in shares of Emerson Electric during the first quarter valued at about $127,000. Harbour Capital Advisors LLC purchased a new position in shares of Emerson Electric during the first quarter valued at about $147,000. Finally, Guardian Life Insurance Co. of America boosted its position in shares of 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 in the last quarter. 69.42% of the stock is currently owned by hedge funds and other institutional investors.
Emerson Electric Company (NYSE EMR) traded down 0.79% during mid-day trading on Thursday, reaching $58.85. 544,837 shares of the company traded hands. The company’s 50 day moving average price is $59.88 and its 200 day moving average price is $59.83. The firm has a market capitalization of $37.67 billion, a P/E ratio of 26.26 and a beta of 1.20. Emerson Electric Company has a 12-month low of $49.22 and a 12-month high of $64.36.
Emerson Electric (NYSE:EMR) last released its earnings results on Tuesday, August 1st. The industrial products company reported $0.68 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.68. Emerson Electric had a return on equity of 22.32% and a net margin of 8.89%. The business had revenue of $4.04 billion for the quarter, compared to analyst estimates of $3.99 billion. During the same quarter last year, the firm posted $0.68 earnings per share. The business’s revenue was up 9.9% compared to the same quarter last year. Equities research analysts predict 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. Shareholders of record on Friday, August 11th will be paid a $0.48 dividend. The ex-dividend date of this dividend is Wednesday, August 9th. This represents a $1.92 dividend on an annualized basis and a yield of 3.24%. Emerson Electric’s payout ratio is 85.33%.
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Several research analysts have recently issued reports on EMR shares. TheStreet upgraded shares of Emerson Electric from a “c+” rating to a “b” rating in a report on Thursday, May 4th. Stifel Nicolaus restated a “buy” rating and issued a $67.00 target price (up previously from $65.00) on shares of Emerson Electric in a report on Monday, May 15th. Zacks Investment Research cut shares of Emerson Electric from a “buy” rating to a “hold” rating in a report on Friday, May 5th. JMP Securities started coverage on shares of Emerson Electric in a report on Monday, June 19th. They issued an “outperform” rating and a $70.00 target price on the stock. Finally, Morgan Stanley restated an “overweight” rating on shares of Emerson Electric in a report on Tuesday, July 11th. Three research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and three have issued a buy rating to the company’s stock. Emerson Electric currently has a consensus rating of “Hold” and a consensus price target of $58.14.
Emerson Electric Company Profile
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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