Emerson Electric Company (EMR) Shares Sold by First American Bank
First American Bank lowered its position in Emerson Electric Company (NYSE:EMR) by 2.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 46,472 shares of the industrial products company’s stock after selling 1,313 shares during the quarter. First American Bank’s holdings in Emerson Electric were worth $2,771,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in EMR. Vanguard Group Inc. increased its holdings in shares of Emerson Electric by 5.8% in the first quarter. Vanguard Group Inc. now owns 43,698,252 shares of the industrial products company’s stock worth $2,615,777,000 after purchasing an additional 2,404,844 shares during the period. Prudential Financial Inc. increased its holdings in shares of Emerson Electric by 135.9% in the first quarter. Prudential Financial Inc. now owns 2,963,124 shares of the industrial products company’s stock worth $177,372,000 after purchasing an additional 1,706,810 shares during the period. American Century Companies Inc. increased its holdings in shares of Emerson Electric by 19.4% in the first quarter. American Century Companies Inc. now owns 4,338,862 shares of the industrial products company’s stock worth $259,724,000 after purchasing an additional 705,924 shares during the period. Bank of Nova Scotia increased its holdings in shares of Emerson Electric by 3,745.5% in the first quarter. Bank of Nova Scotia now owns 561,400 shares of the industrial products company’s stock worth $33,771,000 after purchasing an additional 546,801 shares during the period. Finally, UBS Asset Management Americas Inc. increased its holdings in shares of Emerson Electric by 28.8% in the first quarter. UBS Asset Management Americas Inc. now owns 2,418,472 shares of the industrial products company’s stock worth $144,770,000 after purchasing an additional 540,927 shares during the period. 70.19% of the stock is currently owned by hedge funds and other institutional investors.
Emerson Electric Company (NYSE:EMR) traded up 0.74% during mid-day trading on Friday, reaching $62.35. 4,441,677 shares of the company’s stock traded hands. The firm has a market cap of $39.91 billion, a price-to-earnings ratio of 27.82 and a beta of 1.18. The firm’s 50-day moving average price is $59.65 and its 200 day moving average price is $59.54. Emerson Electric Company has a one year low of $49.22 and a one year high of $64.36.
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 analysts’ consensus estimates of $0.68. Emerson Electric had a net margin of 8.89% and a return on equity of 22.32%. The firm had revenue of $4.04 billion for the quarter, compared to the consensus estimate of $3.99 billion. During the same period in the previous year, the firm posted $0.68 EPS. The business’s quarterly revenue was up 9.9% on a year-over-year basis. On average, equities analysts forecast that Emerson Electric Company will post $2.61 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Monday, September 11th. Stockholders 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 dividend on an annualized basis and a dividend yield of 3.08%. Emerson Electric’s dividend payout ratio (DPR) is presently 85.33%.
Several research firms have recently weighed in on EMR. BidaskClub cut shares of Emerson Electric from a “sell” rating to a “strong sell” rating in a report on Friday, August 18th. Berenberg Bank reaffirmed a “sell” rating and issued a $53.00 price target on shares of Emerson Electric in a report on Friday, August 11th. Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $62.00 price target (up previously from $61.00) on shares of Emerson Electric in a report on Wednesday, August 2nd. Stifel Nicolaus reaffirmed a “buy” rating and issued a $68.00 price target on shares of Emerson Electric in a report on Wednesday, July 19th. Finally, Morgan Stanley reaffirmed an “overweight” rating on shares of Emerson Electric in a report on Tuesday, July 11th. Three equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $60.52.
In other news, insider Robert T. Sharp sold 2,000 shares of the business’s stock in a transaction dated Thursday, August 31st. The shares were sold at an average price of $58.99, for a total value of $117,980.00. Following the sale, the insider now directly owns 64,290 shares in the company, valued at approximately $3,792,467.10. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.79% of the company’s stock.
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Emerson Electric 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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