Emerson Electric Company (EMR) Shares Sold by Swarthmore Group Inc.
Swarthmore Group Inc. cut its position in Emerson Electric Company (NYSE:EMR) by 42.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 167,900 shares of the industrial products company’s stock after selling 125,225 shares during the period. Emerson Electric accounts for 2.3% of Swarthmore Group Inc.’s holdings, making the stock its 15th largest position. Swarthmore Group Inc.’s holdings in Emerson Electric were worth $10,010,000 at the end of the most recent quarter.
Several other large investors have also recently modified their holdings of the company. Park National Corp OH boosted its stake in shares of Emerson Electric by 0.8% in the second quarter. Park National Corp OH now owns 369,792 shares of the industrial products company’s stock worth $22,047,000 after acquiring an additional 2,940 shares during the last quarter. Parsons Capital Management Inc. RI boosted its stake in shares of Emerson Electric by 8.3% in the first quarter. Parsons Capital Management Inc. RI now owns 40,869 shares of the industrial products company’s stock worth $2,446,000 after acquiring an additional 3,125 shares during the last quarter. Columbia Partners L L C Investment Management boosted its stake in shares of Emerson Electric by 11.8% in the first quarter. Columbia Partners L L C Investment Management now owns 48,184 shares of the industrial products company’s stock worth $2,884,000 after acquiring an additional 5,084 shares during the last quarter. Seaward Management Limited Partnership boosted its stake in shares of Emerson Electric by 3.4% in the first quarter. Seaward Management Limited Partnership now owns 281,105 shares of the industrial products company’s stock worth $16,826,000 after acquiring an additional 9,367 shares during the last quarter. Finally, Sowell Financial Services LLC boosted its stake in shares of Emerson Electric by 1.6% in the first quarter. Sowell Financial Services LLC now owns 5,395 shares of the industrial products company’s stock worth $322,000 after acquiring an additional 83 shares during the last quarter. 70.19% of the stock is currently owned by hedge funds and other institutional investors.
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EMR has been the topic of a number of research analyst reports. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $62.00 price target on shares of Emerson Electric in a research note on Tuesday, June 6th. BidaskClub lowered Emerson Electric from a “hold” rating to a “sell” rating in a research note on Friday, June 9th. JMP Securities began coverage on Emerson Electric in a research note on Monday, June 19th. They set an “outperform” rating and a $70.00 price objective on the stock. Morgan Stanley reissued an “overweight” rating on shares of Emerson Electric in a research note on Tuesday, July 11th. Finally, Stifel Nicolaus reissued a “buy” rating and set a $68.00 price objective on shares of Emerson Electric in a research note on Wednesday, July 19th. Three investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and three have given a buy rating to the company. Emerson Electric has an average rating of “Hold” and a consensus price target of $60.52.
Emerson Electric Company (EMR) traded up 0.11% during trading on Wednesday, reaching $61.33. The company’s stock had a trading volume of 673,815 shares. The firm has a market capitalization of $39.25 billion, a P/E ratio of 27.37 and a beta of 1.18. Emerson Electric Company has a 52 week low of $49.22 and a 52 week high of $64.36. The firm has a 50-day moving average price of $59.50 and a 200-day moving average price of $59.50.
Emerson Electric (NYSE:EMR) last posted its quarterly earnings results on Tuesday, August 1st. The industrial products company reported $0.68 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.68. The company had revenue of $4.04 billion for 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% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.68 earnings per share. On average, equities analysts anticipate that Emerson Electric Company will post $2.61 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Monday, September 11th. Shareholders of record on Friday, August 11th were issued a $0.48 dividend. The ex-dividend date was Wednesday, August 9th. This represents a $1.92 annualized dividend and a dividend yield of 3.13%. Emerson Electric’s dividend payout ratio is currently 85.33%.
In other Emerson Electric news, insider Robert T. Sharp sold 2,000 shares of the company’s stock in a transaction on Thursday, August 31st. The stock was sold at an average price of $58.99, for a total value of $117,980.00. Following the transaction, the insider now owns 64,290 shares of the company’s stock, valued at $3,792,467.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.79% of the stock is currently owned by corporate insiders.
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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