Private Asset Management Inc. Has $7.93 Million Holdings in Emerson Electric Company (EMR)
Private Asset Management Inc. cut its stake in Emerson Electric Company (NYSE:EMR) by 5.0% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 132,990 shares of the industrial products company’s stock after selling 7,059 shares during the quarter. Private Asset Management Inc.’s holdings in Emerson Electric were worth $7,929,000 at the end of the most recent reporting period.
A number of other large investors also recently made changes to their positions in the business. Park National Corp OH lifted its holdings in Emerson Electric by 0.8% in the second quarter. Park National Corp OH now owns 369,792 shares of the industrial products company’s stock valued at $22,047,000 after acquiring an additional 2,940 shares during the period. Parsons Capital Management Inc. RI increased its position in shares of Emerson Electric by 8.3% in the first quarter. Parsons Capital Management Inc. RI now owns 40,869 shares of the industrial products company’s stock valued at $2,446,000 after buying an additional 3,125 shares in the last quarter. Columbia Partners L L C Investment Management increased its position in shares of Emerson Electric by 11.8% in the first quarter. Columbia Partners L L C Investment Management now owns 48,184 shares of the industrial products company’s stock valued at $2,884,000 after buying an additional 5,084 shares in the last quarter. Seaward Management Limited Partnership increased its position in shares of Emerson Electric by 3.4% in the first quarter. Seaward Management Limited Partnership now owns 281,105 shares of the industrial products company’s stock valued at $16,826,000 after buying an additional 9,367 shares in the last quarter. Finally, Sowell Financial Services LLC increased its position in shares of Emerson Electric by 1.6% in the first quarter. Sowell Financial Services LLC now owns 5,395 shares of the industrial products company’s stock valued at $322,000 after buying an additional 83 shares in the last quarter. 70.19% of the stock is owned by institutional investors.
Shares of Emerson Electric Company (NYSE EMR) traded up 0.11% during mid-day trading on Wednesday, reaching $61.33. The company’s stock had a trading volume of 673,815 shares. The company’s 50-day moving average is $59.50 and its 200 day moving average is $59.50. The firm has a market capitalization of $39.25 billion, a P/E ratio of 27.37 and a beta of 1.18. Emerson Electric Company has a 1-year low of $49.22 and a 1-year high of $64.36.
Emerson Electric (NYSE:EMR) last issued its quarterly earnings data on Tuesday, August 1st. The industrial products company reported $0.68 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.68. The firm had revenue of $4.04 billion during the quarter, compared to analysts’ expectations of $3.99 billion. Emerson Electric had a return on equity of 22.32% and a net margin of 8.89%. Emerson Electric’s revenue was up 9.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.68 earnings per share. On average, analysts expect that Emerson Electric Company will post $2.61 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, September 11th. Investors of record on Friday, August 11th were issued a dividend of $0.48 per share. The ex-dividend date of this dividend was Wednesday, August 9th. This represents a $1.92 annualized dividend and a yield of 3.13%. Emerson Electric’s dividend payout ratio is presently 85.33%.
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A number of research firms have recently commented on EMR. BidaskClub cut Emerson Electric from a “sell” rating to a “strong sell” rating in a research report on Friday, August 18th. Royal Bank Of Canada restated a “sector perform” rating and issued a $62.00 price objective (up from $61.00) on shares of Emerson Electric in a research report on Wednesday, August 2nd. Berenberg Bank restated a “sell” rating and issued a $53.00 price objective on shares of Emerson Electric in a research report on Friday, August 11th. Morgan Stanley restated an “overweight” rating on shares of Emerson Electric in a research report on Tuesday, July 11th. Finally, Stifel Nicolaus restated a “buy” rating and issued a $68.00 price objective on shares of Emerson Electric in a research report on Wednesday, July 19th. Three equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and three have issued a buy rating to the stock. Emerson Electric currently has a consensus rating of “Hold” and an average price target of $60.52.
In related news, insider Robert T. Sharp sold 2,000 shares of Emerson Electric stock in a transaction on Thursday, August 31st. The stock was sold at an average price of $58.99, for a total transaction of $117,980.00. Following the completion of the transaction, the insider now directly owns 64,290 shares of the company’s stock, valued at $3,792,467.10. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 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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