Mraz Amerine & Associates Inc. Lowers Holdings in Emerson Electric Company (EMR)
Mraz Amerine & Associates Inc. reduced its holdings in shares of Emerson Electric Company (NYSE:EMR) by 3.0% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 26,284 shares of the industrial products company’s stock after selling 814 shares during the period. Mraz Amerine & Associates Inc.’s holdings in Emerson Electric were worth $1,567,000 as of its most recent filing with the SEC.
Other institutional investors have also modified their holdings of the company. Central Bank & Trust Co. grew its position in Emerson Electric by 31.3% during the 1st quarter. Central Bank & Trust Co. now owns 2,100 shares of the industrial products company’s stock worth $126,000 after purchasing an additional 500 shares during the last quarter. Oppenheimer Asset Management Inc. purchased a new position in Emerson Electric during the 1st quarter worth $127,000. Harbour Capital Advisors LLC purchased a new position in Emerson Electric during the 1st quarter worth $147,000. Guardian Life Insurance Co. of America lifted 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 worth $149,000 after acquiring an additional 28 shares during the period. Finally, Perkins Coie Trust Co acquired a new stake in shares of Emerson Electric in the 2nd quarter worth $150,000. 70.19% of the stock is currently owned by institutional investors.
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Shares of Emerson Electric Company (EMR) opened at 60.40 on Monday. Emerson Electric Company has a 52 week low of $49.22 and a 52 week high of $64.36. The company has a 50 day moving average of $59.44 and a 200 day moving average of $59.53. The firm has a market cap of $38.66 billion, a PE ratio of 26.95 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 consensus estimate of $0.68. The business had revenue of $4.04 billion during the quarter, compared to the consensus estimate of $3.99 billion. Emerson Electric had a net margin of 8.89% and a return on equity of 22.32%. The company’s quarterly revenue was up 9.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.68 earnings per share. On average, equities research analysts anticipate that Emerson Electric Company will post $2.61 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 11th. Investors of record on Friday, August 11th will be issued a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 3.18%. The ex-dividend date is Wednesday, August 9th. Emerson Electric’s payout ratio is currently 85.33%.
Several research firms have recently commented on EMR. BidaskClub cut shares of Emerson Electric from a “hold” rating to a “sell” rating in a research note on Friday, June 9th. Stifel Nicolaus restated a “buy” rating and issued a $68.00 target price on shares of Emerson Electric in a research note on Wednesday, July 19th. Morgan Stanley restated an “overweight” rating on shares of Emerson Electric in a research note on Tuesday, July 11th. JMP Securities began coverage on shares of Emerson Electric in a research note on Monday, June 19th. They issued an “outperform” rating and a $70.00 target price for the company. Finally, Berenberg Bank restated a “sell” rating and issued a $53.00 target price on shares of Emerson Electric in a research note on Friday, August 11th. Three equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $60.52.
In related news, insider Robert T. Sharp sold 2,000 shares of the company’s stock in a transaction dated Thursday, August 31st. The shares were sold at an average price of $58.99, for a total value of $117,980.00. Following the completion of the sale, the insider now owns 64,290 shares of the company’s stock, valued at $3,792,467.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.79% of the company’s stock.
Emerson Electric 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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