Emerson Electric Company (EMR) Stake Lowered by Fayerweather Charles
Fayerweather Charles cut its stake in Emerson Electric Company (NYSE:EMR) by 7.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,650 shares of the industrial products company’s stock after selling 595 shares during the quarter. Fayerweather Charles’ holdings in Emerson Electric were worth $459,000 at the end of the most recent quarter.
Other hedge funds also recently made changes to their positions in the company. Central Bank & Trust Co. increased its stake in shares of Emerson Electric by 31.3% in the 1st quarter. Central Bank & Trust Co. now owns 2,100 shares of the industrial products company’s stock valued at $126,000 after acquiring an additional 500 shares during the last quarter. Oppenheimer Asset Management Inc. bought a new stake in shares of Emerson Electric in the 1st quarter valued at about $127,000. Harbour Capital Advisors LLC bought a new stake in shares of Emerson Electric in the 1st quarter valued at about $147,000. Guardian Life Insurance Co. of America increased its stake in shares of Emerson Electric by 1.1% in the 1st quarter. Guardian Life Insurance Co. of America now owns 2,491 shares of the industrial products company’s stock valued at $149,000 after acquiring an additional 28 shares during the last quarter. Finally, Milestone Group Inc. bought a new stake in shares of Emerson Electric in the 1st quarter valued at about $201,000. 70.19% of the stock is owned by institutional investors.
Emerson Electric Company (EMR) traded up 0.60% during trading on Monday, reaching $60.76. The company’s stock had a trading volume of 895,032 shares. The company’s 50-day moving average is $59.42 and its 200-day moving average is $59.49. Emerson Electric Company has a 12 month low of $49.22 and a 12 month high of $64.36. The stock has a market cap of $38.89 billion, a PE ratio of 27.11 and a beta of 1.18.
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 return on equity of 22.32% and a net margin of 8.89%. The business had revenue of $4.04 billion for the quarter, compared to analysts’ expectations of $3.99 billion. During the same quarter in the previous year, the firm earned $0.68 earnings per share. The business’s revenue was up 9.9% on a year-over-year basis. Equities analysts expect that Emerson Electric Company will post $2.61 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 11th. Shareholders of record on Friday, August 11th will be given a $0.48 dividend. The ex-dividend date is Wednesday, August 9th. This represents a $1.92 annualized dividend and a yield of 3.18%. Emerson Electric’s dividend payout ratio is currently 85.33%.
In other Emerson Electric news, insider Robert T. Sharp sold 2,000 shares of the business’s stock in a transaction on Thursday, August 31st. The stock was sold at an average price of $58.99, for a total value of $117,980.00. Following the transaction, the insider now owns 64,290 shares of the company’s stock, valued at $3,792,467.10. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.79% of the stock is currently owned by insiders.
A number of analysts have recently commented on EMR shares. Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $62.00 price target (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 target on shares of Emerson Electric in a research note on Friday, August 11th. JMP Securities started coverage on Emerson Electric in a research note on Monday, June 19th. They issued an “outperform” rating and a $70.00 price target for the company. Morgan Stanley reaffirmed an “overweight” rating on shares of Emerson Electric in a research note on Tuesday, July 11th. Finally, BidaskClub cut 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 given a hold rating and three have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $60.52.
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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