Sasco Capital Inc. CT Trims Position in Emerson Electric Company (EMR)
Sasco Capital Inc. CT reduced its position in Emerson Electric Company (NYSE:EMR) by 20.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,258,153 shares of the industrial products company’s stock after selling 331,420 shares during the quarter. Emerson Electric makes up 2.1% of Sasco Capital Inc. CT’s portfolio, making the stock its 27th largest holding. Sasco Capital Inc. CT owned approximately 0.20% of Emerson Electric worth $75,012,000 at the end of the most recent quarter.
A number of other hedge funds have also recently modified their holdings of EMR. Central Bank & Trust Co. lifted its position in Emerson Electric by 31.3% in 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 period. Oppenheimer Asset Management Inc. bought a new position in Emerson Electric in the first quarter worth $127,000. Harbour Capital Advisors LLC bought a new position in Emerson Electric in the first quarter worth $147,000. Guardian Life Insurance Co. of America lifted its position in Emerson Electric by 1.1% in 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 period. Finally, Perkins Coie Trust Co bought a new position in Emerson Electric in the second quarter worth $150,000. 70.03% of the stock is owned by hedge funds and other institutional investors.
In related news, insider Robert T. Sharp sold 2,000 shares of the company’s 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 sale, the insider now directly owns 64,290 shares in the company, valued at approximately $3,792,467.10. The sale was disclosed in a filing with the SEC, which is available through this link. 0.79% of the stock is owned by corporate insiders.
Several research analysts recently commented on the company. 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 reaffirmed a “sector perform” rating and issued a $62.00 target price (up from $61.00) on shares of Emerson Electric in a research report on Wednesday, August 2nd. Berenberg Bank reaffirmed a “sell” rating and issued a $53.00 target price 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 issued a $68.00 target price 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 given a hold rating and three have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $60.52.
Emerson Electric Company (NYSE:EMR) opened at 63.44 on Monday. Emerson Electric Company has a 12-month low of $49.22 and a 12-month high of $64.36. The company has a 50 day moving average price of $59.86 and a 200-day moving average price of $59.57. The company has a market capitalization of $40.60 billion, a PE ratio of 28.31 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 earnings per share for the quarter, hitting the 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 during the quarter, compared to the consensus estimate of $3.99 billion. During the same period in the prior year, the company earned $0.68 EPS. Emerson Electric’s revenue for the quarter was up 9.9% on a year-over-year basis. On average, analysts anticipate that Emerson Electric Company will post $2.61 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 11th. Investors of record on Friday, August 11th were given 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 dividend yield of 3.03%. Emerson Electric’s dividend 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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