Emerson Electric Company (EMR) Position Decreased by Jarislowsky Fraser Ltd
Jarislowsky Fraser Ltd decreased its stake in shares of Emerson Electric Company (NYSE:EMR) by 12.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 525,706 shares of the industrial products company’s stock after selling 75,381 shares during the period. Jarislowsky Fraser Ltd owned 0.08% of Emerson Electric worth $31,468,000 as of its most recent SEC filing.
Several other hedge funds have also made changes to their positions in the stock. Somerset Trust Co increased its stake in shares of Emerson Electric by 2.2% in the first quarter. Somerset Trust Co now owns 21,828 shares of the industrial products company’s stock valued at $1,306,000 after buying an additional 474 shares in the last quarter. Benedict Financial Advisors Inc. increased its stake in shares of Emerson Electric by 0.6% in the first quarter. Benedict Financial Advisors Inc. now owns 46,836 shares of the industrial products company’s stock valued at $2,804,000 after buying an additional 262 shares in the last quarter. Pinnacle Financial Partners Inc. increased its stake in shares of Emerson Electric by 10.4% in the first quarter. Pinnacle Financial Partners Inc. now owns 61,784 shares of the industrial products company’s stock valued at $3,698,000 after buying an additional 5,844 shares in the last quarter. Princeton Alpha Management LP acquired a new stake in shares of Emerson Electric during the first quarter valued at $461,000. Finally, Central Bank & Trust Co. increased its stake 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. Institutional investors own 69.42% of the company’s stock.
Shares of Emerson Electric Company (EMR) traded up 0.93% during trading on Friday, reaching $58.56. 1,239,543 shares of the company’s stock were exchanged. The company has a 50 day moving average price of $59.67 and a 200-day moving average price of $59.78. Emerson Electric Company has a 52-week low of $49.22 and a 52-week high of $64.36. The company has a market capitalization of $37.48 billion, a PE ratio of 26.13 and a beta of 1.20.
Emerson Electric (NYSE:EMR) last released 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 net margin of 8.89% and a return on equity of 22.32%. The business had revenue of $4.04 billion for the quarter, compared to analyst estimates of $3.99 billion. During the same period last year, the firm earned $0.68 earnings per share. Emerson Electric’s revenue for the quarter was up 9.9% compared to the same quarter last year. On average, equities analysts forecast that Emerson Electric Company will post $2.61 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, September 11th. Investors of record on Friday, August 11th will be given a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 3.28%. The ex-dividend date is Wednesday, August 9th. Emerson Electric’s dividend payout ratio is 85.33%.
Several analysts have recently weighed in on EMR shares. Zacks Investment Research downgraded Emerson Electric from a “buy” rating to a “hold” rating in a research note on Friday, May 5th. BidaskClub upgraded Emerson Electric from a “sell” rating to a “hold” rating in a research note on Friday, June 16th. Royal Bank Of Canada restated a “sector perform” rating and set a $62.00 target price (up from $61.00) on shares of Emerson Electric in a research note on Wednesday, August 2nd. JMP Securities started coverage on Emerson Electric in a research note on Monday, June 19th. They set an “outperform” rating and a $70.00 target price for the company. Finally, Morgan Stanley restated an “overweight” rating on shares of Emerson Electric in a research note on Tuesday, July 11th. Three equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and three have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $59.71.
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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