Emerson Electric Company (EMR) Shares Sold by Puzo Michael J
Puzo Michael J cut its stake in Emerson Electric Company (NYSE:EMR) by 9.5% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 22,084 shares of the industrial products company’s stock after selling 2,330 shares during the period. Puzo Michael J’s holdings in Emerson Electric were worth $1,317,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. City Holding Co. boosted its position in Emerson Electric by 1.1% in the first quarter. City Holding Co. now owns 35,608 shares of the industrial products company’s stock valued at $2,131,000 after buying an additional 375 shares during the period. West Coast Financial LLC boosted its position in Emerson Electric by 2.9% in the first quarter. West Coast Financial LLC now owns 54,408 shares of the industrial products company’s stock valued at $3,257,000 after buying an additional 1,540 shares during the period. Oakbrook Investments LLC bought a new position in Emerson Electric during the first quarter valued at $1,835,000. Rockland Trust Co. boosted its position in Emerson Electric by 3.8% in the first quarter. Rockland Trust Co. now owns 83,291 shares of the industrial products company’s stock valued at $4,986,000 after buying an additional 3,033 shares during the period. Finally, Hengehold Capital Management LLC boosted its position in Emerson Electric by 98.2% in the first quarter. Hengehold Capital Management LLC now owns 80,739 shares of the industrial products company’s stock valued at $4,833,000 after buying an additional 40,011 shares during the period. Hedge funds and other institutional investors own 70.17% of the company’s stock.
Emerson Electric Company (EMR) traded down 0.44% during mid-day trading on Monday, hitting $58.30. 569,759 shares of the company were exchanged. The company’s 50-day moving average is $59.67 and its 200 day moving average is $59.78. Emerson Electric Company has a 12-month low of $49.22 and a 12-month high of $64.36. The company has a market capitalization of $37.31 billion, a P/E ratio of 26.02 and a beta of 1.20.
Emerson Electric (NYSE:EMR) last issued its quarterly earnings data on Tuesday, August 1st. The industrial products company reported $0.68 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate 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 during the quarter, compared to analyst estimates of $3.99 billion. During the same period in the prior year, the business earned $0.68 EPS. The company’s revenue for the quarter was up 9.9% on a year-over-year basis. Analysts expect that Emerson Electric Company will post $2.61 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 11th. Shareholders of record on Friday, August 11th will be issued a $0.48 dividend. The ex-dividend date is Wednesday, August 9th. This represents a $1.92 annualized dividend and a yield of 3.28%. Emerson Electric’s dividend payout ratio (DPR) is presently 85.33%.
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Several research analysts recently weighed in on the stock. JMP Securities assumed coverage on shares of Emerson Electric in a research report on Monday, June 19th. They issued an “outperform” rating and a $70.00 price objective for the company. Cowen and Company reiterated a “hold” rating and set a $62.00 target price on shares of Emerson Electric in a research report on Tuesday, May 2nd. BidaskClub upgraded shares of Emerson Electric from a “sell” rating to a “hold” rating in a research report on Friday, June 16th. Royal Bank Of Canada reiterated a “sector perform” rating and set a $62.00 target price (up previously from $61.00) on shares of Emerson Electric in a research report on Wednesday, August 2nd. Finally, Stifel Nicolaus reiterated a “buy” rating and set a $68.00 target price on shares of Emerson Electric in a research report on Wednesday, July 19th. Three analysts have rated the stock with a sell rating, thirteen have given a hold rating and three have given a buy rating to the company. Emerson Electric has a consensus rating of “Hold” and an average price target 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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