Emerson Electric Company (EMR) Shares Sold by Capstone Asset Management Co.
Capstone Asset Management Co. decreased its stake in shares of Emerson Electric Company (NYSE:EMR) by 0.3% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 284,622 shares of the industrial products company’s stock after selling 956 shares during the period. Capstone Asset Management Co.’s holdings in Emerson Electric were worth $16,969,000 as of its most recent filing with the SEC.
Other hedge funds also recently modified their holdings of the company. Central Bank & Trust Co. lifted its position in shares of Emerson Electric by 31.3% during the first 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. bought a new position in shares of Emerson Electric during the first quarter worth about $127,000. Harbour Capital Advisors LLC bought a new position in shares of Emerson Electric during the first quarter worth about $147,000. Guardian Life Insurance Co. of America lifted its position in shares of Emerson Electric by 1.1% during the first quarter. Guardian Life Insurance Co. of America now owns 2,491 shares of the industrial products company’s stock worth $149,000 after purchasing an additional 28 shares during the last quarter. Finally, Milestone Group Inc. bought a new position in shares of Emerson Electric during the first quarter worth about $201,000. 70.03% of the stock is currently owned by institutional investors and hedge funds.
Several equities analysts have recently commented on the stock. BidaskClub cut shares of Emerson Electric from a “sell” rating to a “strong sell” rating in a research report on Friday, August 18th. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $62.00 price target (up previously from $61.00) on shares of Emerson Electric in a research report on Wednesday, August 2nd. Berenberg Bank reaffirmed a “sell” rating and set a $53.00 price target on shares of Emerson Electric in a research report on Friday, August 11th. Morgan Stanley reaffirmed an “overweight” rating on shares of Emerson Electric in a research report on Tuesday, July 11th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $68.00 price target on shares of Emerson Electric in a research report on Wednesday, July 19th. Three investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $60.52.
In other Emerson Electric news, insider Robert T. Sharp sold 2,000 shares of the business’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 transaction, the insider now directly owns 64,290 shares in the company, valued at $3,792,467.10. The transaction was disclosed in a document filed with the SEC, which is available through this link. 0.79% of the stock is owned by insiders.
Shares of Emerson Electric Company (NYSE EMR) traded up 0.69% during midday trading on Monday, hitting $62.78. 843,339 shares of the company’s stock traded hands. The firm has a market capitalization of $40.18 billion, a price-to-earnings ratio of 28.01 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. The company has a 50 day moving average price of $59.65 and a 200 day moving average price of $59.54.
Emerson Electric (NYSE:EMR) last released its quarterly earnings results on Tuesday, August 1st. The industrial products company reported $0.68 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.68. The firm had revenue of $4.04 billion for the quarter, compared to analyst estimates of $3.99 billion. Emerson Electric had a net margin of 8.89% and a return on equity of 22.32%. The company’s revenue for the quarter was up 9.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.68 earnings per share. Equities analysts anticipate that Emerson Electric Company will post $2.61 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Monday, September 11th. Shareholders of record on Friday, August 11th were given a $0.48 dividend. The ex-dividend date was Wednesday, August 9th. This represents a $1.92 dividend on an annualized basis and a yield of 3.08%. Emerson Electric’s dividend payout ratio (DPR) is presently 85.33%.
About Emerson Electric
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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