Emerson Electric Company (EMR) Stake Cut by Concentric Wealth Management LLC
Concentric Wealth Management LLC cut its stake in Emerson Electric Company (NYSE:EMR) by 0.9% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 22,793 shares of the industrial products company’s stock after selling 212 shares during the period. Concentric Wealth Management LLC’s holdings in Emerson Electric were worth $1,364,000 at the end of the most recent quarter.
A number of other hedge funds have also recently added to or reduced their stakes in EMR. Central Bank & Trust Co. boosted 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. Milestone Group Inc. bought a new stake in shares of Emerson Electric during the first quarter valued at about $201,000. Wedgewood Investors Inc. PA bought a new stake in shares of Emerson Electric during the first quarter valued at about $204,000. Garrison Bradford & Associates Inc. bought a new stake in shares of Emerson Electric during the first quarter valued at about $204,000. Finally, Trust Co. of Virginia VA bought a new stake in shares of Emerson Electric during the first quarter valued at about $205,000. 70.17% of the stock is owned by hedge funds and other institutional investors.
Shares of Emerson Electric Company (NYSE EMR) traded down 0.61% during trading on Monday, reaching $58.20. 319,000 shares of the company’s stock were exchanged. The firm has a market capitalization of $37.25 billion, a P/E ratio of 25.97 and a beta of 1.20. The company has a 50 day moving average of $59.67 and a 200 day moving average of $59.78. Emerson Electric Company has a 52-week low of $49.22 and a 52-week high of $64.36.
Emerson Electric (NYSE:EMR) last posted its quarterly earnings data on Tuesday, August 1st. The industrial products company reported $0.68 earnings per share 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 analysts’ expectations of $3.99 billion. During the same quarter in the prior year, the business posted $0.68 earnings per share. Emerson Electric’s revenue was up 9.9% compared to the same quarter last year. Equities analysts anticipate that Emerson Electric Company will post $2.61 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, September 11th. Stockholders of record on Friday, August 11th will be issued a $0.48 dividend. The ex-dividend date of this dividend is Wednesday, August 9th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 3.28%. Emerson Electric’s dividend payout ratio (DPR) is currently 85.33%.
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Several analysts have recently issued reports on the stock. BidaskClub cut shares of Emerson Electric from a “sell” rating to a “strong sell” rating in a research note on Friday, August 18th. Berenberg Bank reissued a “sell” rating and set a $53.00 price objective on shares of Emerson Electric in a research note on Friday, August 11th. Royal Bank Of Canada reissued a “sector perform” rating and set a $62.00 price objective (up from $61.00) on shares of Emerson Electric in a research note on Wednesday, August 2nd. 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. Finally, Morgan Stanley reissued an “overweight” rating on shares of Emerson Electric in a research note on Tuesday, July 11th. Three analysts have rated the stock with a sell rating, thirteen have given a hold rating and three have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $59.71.
Emerson Electric Company 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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