Sentry Investment Management LLC Has $2.90 Million Stake in Emerson Electric Company (EMR)
Sentry Investment Management LLC reduced its stake in shares of Emerson Electric Company (NYSE:EMR) by 4.3% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 48,517 shares of the industrial products company’s stock after selling 2,188 shares during the quarter. Sentry Investment Management LLC’s holdings in Emerson Electric were worth $2,904,000 as of its most recent SEC filing.
Several other hedge funds also recently added to or reduced their stakes in EMR. Prudential Financial Inc. boosted its stake in 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 valued at $177,372,000 after buying an additional 1,706,810 shares in the last quarter. American Century Companies Inc. boosted its stake in 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 valued at $259,724,000 after buying an additional 705,924 shares in the last quarter. UBS Asset Management Americas Inc. boosted its stake in 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 valued at $144,770,000 after buying an additional 540,927 shares in the last quarter. APG Asset Management N.V. boosted its stake in Emerson Electric by 17.9% in the first quarter. APG Asset Management N.V. now owns 3,352,519 shares of the industrial products company’s stock valued at $200,682,000 after buying an additional 510,160 shares in the last quarter. Finally, Swiss National Bank boosted its stake in Emerson Electric by 27.1% in the first quarter. Swiss National Bank now owns 2,277,573 shares of the industrial products company’s stock valued at $136,336,000 after buying an additional 485,200 shares in the last quarter. 70.17% of the stock is currently owned by institutional investors.
Emerson Electric Company (EMR) traded down 0.39% during trading on Friday, reaching $58.81. The company’s stock had a trading volume of 1,833,159 shares. The company has a market cap of $37.64 billion, a PE ratio of 26.24 and a beta of 1.18. The stock has a 50-day moving average price of $59.51 and a 200 day moving average price of $59.62. 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 (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 firm had revenue of $4.04 billion during the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. On average, analysts expect that Emerson Electric Company will post $2.61 EPS for the current year.
The company also recently disclosed 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. This represents a $1.92 dividend on an annualized basis and a dividend yield of 3.26%. The ex-dividend date of this dividend is Wednesday, August 9th. Emerson Electric’s payout ratio is currently 85.33%.
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EMR has been the topic of several research analyst reports. Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $62.00 price objective (up from $61.00) on shares of Emerson Electric in a research note on Wednesday, August 2nd. Berenberg Bank reaffirmed a “sell” rating and issued a $53.00 price objective on shares of Emerson Electric in a research note on Friday, August 11th. JMP Securities initiated coverage on Emerson Electric in a research note on Monday, June 19th. They issued an “outperform” rating and a $70.00 price objective on the stock. Morgan Stanley reaffirmed an “overweight” rating on shares of Emerson Electric in a research note on Tuesday, July 11th. Finally, BidaskClub lowered Emerson Electric from a “sell” rating to a “strong sell” rating in a research note on Friday, August 18th. Three investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and three have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $60.52.
In other news, insider Robert T. Sharp sold 2,000 shares of the company’s stock in a transaction dated 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 transaction, the insider now directly owns 64,290 shares in the company, valued at approximately $3,792,467.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.79% of the stock is currently owned by corporate insiders.
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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