Klingenstein Fields & Co. LLC Acquires 7,957 Shares of Emerson Electric Company (EMR)
Klingenstein Fields & Co. LLC increased its holdings in shares of Emerson Electric Company (NYSE:EMR) by 77.0% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 18,297 shares of the industrial products company’s stock after buying an additional 7,957 shares during the period. Klingenstein Fields & Co. LLC’s holdings in Emerson Electric were worth $1,091,000 at the end of the most recent quarter.
Other large investors have also bought and sold shares of the company. Central Bank & Trust Co. boosted its position in Emerson Electric by 31.3% during the 1st 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 1st quarter worth approximately $127,000. Harbour Capital Advisors LLC acquired a new stake in Emerson Electric during the 1st quarter worth approximately $147,000. Guardian Life Insurance Co. of America boosted its position in Emerson Electric by 1.1% during the 1st 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. Finally, Perkins Coie Trust Co acquired a new stake in Emerson Electric during the 2nd quarter worth approximately $150,000. Institutional investors and hedge funds own 70.19% of the company’s stock.
Shares of Emerson Electric Company (NYSE EMR) opened at 62.35 on Friday. Emerson Electric Company has a 1-year low of $49.22 and a 1-year high of $64.36. The company has a market cap of $39.91 billion, a price-to-earnings ratio of 27.82 and a beta of 1.18. The stock has a 50 day moving average of $59.65 and a 200 day moving average of $59.54.
Emerson Electric (NYSE:EMR) last announced its quarterly earnings results on Tuesday, August 1st. The industrial products company reported $0.68 EPS 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 company had revenue of $4.04 billion during 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 firm’s revenue was up 9.9% on a year-over-year basis. Analysts predict that Emerson Electric Company will post $2.61 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Monday, September 11th. Investors of record on Friday, August 11th were paid a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 3.08%. The ex-dividend date of this dividend was Wednesday, August 9th. Emerson Electric’s payout ratio is 85.33%.
Several equities research analysts recently commented on EMR shares. BidaskClub upgraded shares of Emerson Electric from a “sell” rating to a “hold” rating in a research report on Friday, June 16th. JMP Securities started coverage on shares of Emerson Electric in a research report on Monday, June 19th. They issued an “outperform” rating and a $70.00 price target on the stock. Royal Bank Of Canada restated a “sector perform” rating and issued a $62.00 price target (up previously from $61.00) on shares of Emerson Electric in a research report on Wednesday, August 2nd. Berenberg Bank restated a “sell” rating and issued a $53.00 price target on shares of Emerson Electric in a research report on Friday, August 11th. Finally, Morgan Stanley restated an “overweight” rating on shares of Emerson Electric in a research report on Tuesday, July 11th. Three equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $60.52.
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In related news, insider Robert T. Sharp sold 2,000 shares of the firm’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 completion of the sale, the insider now owns 64,290 shares of the company’s stock, valued at $3,792,467.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.79% of the company’s stock.
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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