Emerson Electric Company (EMR) Shares Sold by Texas Permanent School Fund
Texas Permanent School Fund cut its holdings in Emerson Electric Company (NYSE:EMR) by 3.9% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 181,080 shares of the industrial products company’s stock after selling 7,396 shares during the quarter. Texas Permanent School Fund’s holdings in Emerson Electric were worth $10,796,000 at the end of the most recent reporting period.
A number of other large investors have also added to or reduced their stakes in the stock. Washington Trust Bank boosted its stake in Emerson Electric by 0.4% in the second quarter. Washington Trust Bank now owns 4,040 shares of the industrial products company’s stock valued at $241,000 after buying an additional 16 shares in the last quarter. RB Capital Management LLC boosted its stake in Emerson Electric by 0.6% in the second quarter. RB Capital Management LLC now owns 4,475 shares of the industrial products company’s stock valued at $267,000 after buying an additional 26 shares in the last quarter. Guardian Life Insurance Co. of America boosted its stake 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 valued at $149,000 after buying an additional 28 shares in the last quarter. Busey Trust CO boosted its stake in Emerson Electric by 0.5% in the second quarter. Busey Trust CO now owns 6,834 shares of the industrial products company’s stock valued at $407,000 after buying an additional 31 shares in the last quarter. Finally, Cadence Bank NA boosted its stake in Emerson Electric by 0.3% in the first quarter. Cadence Bank NA now owns 12,322 shares of the industrial products company’s stock valued at $738,000 after buying an additional 37 shares in the last quarter. 70.03% of the stock is currently owned by institutional investors and hedge funds.
Several research firms recently weighed in on EMR. BidaskClub lowered Emerson Electric from a “sell” rating to a “strong sell” rating in a research note on Friday, August 18th. Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $62.00 price objective (up from $61.00) on shares of Emerson Electric in a research note on Wednesday, August 2nd. Berenberg Bank reaffirmed a “sell” rating and issued a $53.00 price objective on shares of Emerson Electric in a research note on Friday, August 11th. Morgan Stanley reaffirmed an “overweight” rating on shares of Emerson Electric in a research note on Tuesday, July 11th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and issued a $68.00 price objective on shares of Emerson Electric in a research note on Wednesday, July 19th. Three research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $60.52.
In other news, insider Robert T. Sharp sold 2,000 shares of the business’s stock in a transaction dated Thursday, August 31st. The stock was 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 approximately $3,792,467.10. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 0.79% of the company’s stock.
Emerson Electric Company (NYSE EMR) opened at 63.34 on Thursday. The stock’s 50 day moving average price is $59.86 and its 200-day moving average price is $59.57. Emerson Electric Company has a 12 month low of $49.22 and a 12 month high of $64.36. The company has a market capitalization of $40.54 billion, a P/E ratio of 28.26 and a beta of 1.18.
Emerson Electric (NYSE:EMR) last released its earnings results on Tuesday, August 1st. The industrial products company reported $0.68 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.68. Emerson Electric had a return on equity of 22.32% and a net margin of 8.89%. The company had revenue of $4.04 billion during the quarter, compared to analyst estimates of $3.99 billion. During the same quarter in the previous year, the company posted $0.68 EPS. Emerson Electric’s revenue for the quarter was up 9.9% on a year-over-year basis. On average, equities research analysts predict that Emerson Electric Company will post $2.61 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Monday, September 11th. Stockholders of record on Friday, August 11th were paid a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 3.04%. The ex-dividend date was Wednesday, August 9th. Emerson Electric’s dividend payout ratio (DPR) is presently 85.33%.
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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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