Bonness Enterprises Inc. Has $2,653,000 Holdings in Emerson Electric Company (EMR)
Bonness Enterprises Inc. continued to hold its position in shares of Emerson Electric Company (NYSE:EMR) during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 44,500 shares of the industrial products company’s stock at the end of the second quarter. Emerson Electric accounts for 2.0% of Bonness Enterprises Inc.’s holdings, making the stock its 13th largest position. Bonness Enterprises Inc.’s holdings in Emerson Electric were worth $2,653,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Capital Investment Advisors LLC increased its holdings in Emerson Electric by 4.9% during the 2nd quarter. Capital Investment Advisors LLC now owns 4,344 shares of the industrial products company’s stock worth $259,000 after purchasing an additional 204 shares during the period. RB Capital Management LLC increased its holdings in Emerson Electric by 0.6% during the 2nd quarter. RB Capital Management LLC now owns 4,475 shares of the industrial products company’s stock worth $267,000 after purchasing an additional 26 shares during the period. Atria Investments LLC increased its holdings in Emerson Electric by 7.6% during the 2nd quarter. Atria Investments LLC now owns 75,519 shares of the industrial products company’s stock worth $4,502,000 after purchasing an additional 5,321 shares during the period. City Holding Co. increased its holdings in Emerson Electric by 17.2% during the 2nd quarter. City Holding Co. now owns 41,728 shares of the industrial products company’s stock worth $2,487,000 after purchasing an additional 6,120 shares during the period. Finally, Country Club Trust Company n.a. increased its holdings in Emerson Electric by 103.8% during the 2nd quarter. Country Club Trust Company n.a. now owns 17,276 shares of the industrial products company’s stock worth $1,030,000 after purchasing an additional 8,800 shares during the period. Institutional investors own 70.03% of the company’s stock.
In related news, insider Robert T. Sharp sold 2,000 shares of the firm’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 in the company, valued at $3,792,467.10. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.79% of the stock is owned by company insiders.
A number of research analysts have recently issued reports on the company. JMP Securities assumed coverage on Emerson Electric in a report on Monday, June 19th. They issued an “outperform” rating and a $70.00 price target on the stock. Stifel Nicolaus reiterated a “buy” rating and issued a $68.00 price target on shares of Emerson Electric in a report on Wednesday, July 19th. Morgan Stanley reiterated an “overweight” rating on shares of Emerson Electric in a report on Tuesday, July 11th. BidaskClub upgraded Emerson Electric from a “sell” rating to a “hold” rating in a report on Friday, June 16th. Finally, Berenberg Bank reiterated a “sell” rating and issued a $53.00 price target on shares of Emerson Electric in a report on Friday, August 11th. Three analysts have rated the stock with a sell rating, twelve have given a hold rating and three have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $60.52.
Shares of Emerson Electric Company (NYSE EMR) traded up 1.03% on Wednesday, reaching $63.86. The company had a trading volume of 905,594 shares. Emerson Electric Company has a 12 month low of $49.22 and a 12 month high of $64.36. The firm’s 50 day moving average is $59.86 and its 200 day moving average is $59.57. The firm has a market capitalization of $40.87 billion, a PE ratio of 28.50 and a beta of 1.18.
Emerson Electric (NYSE:EMR) last announced its quarterly earnings data 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 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 firm’s revenue was up 9.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.68 earnings per share. On average, equities research analysts expect that Emerson Electric Company will post $2.61 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, September 11th. Investors 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 3.04%. Emerson Electric’s payout ratio is currently 85.33%.
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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