Sei Investments Co. Has $5.72 Million Position in Emerson Electric Company (EMR)
Sei Investments Co. reduced its stake in Emerson Electric Company (NYSE:EMR) by 23.6% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 95,948 shares of the industrial products company’s stock after selling 29,574 shares during the quarter. Sei Investments Co.’s holdings in Emerson Electric were worth $5,721,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in EMR. Central Bank & Trust Co. raised its position in Emerson Electric by 31.3% in the 1st quarter. Central Bank & Trust Co. now owns 2,100 shares of the industrial products company’s stock valued at $126,000 after buying an additional 500 shares during the last quarter. Oppenheimer Asset Management Inc. purchased a new stake in Emerson Electric in the 1st quarter valued at $127,000. Harbour Capital Advisors LLC purchased a new stake in Emerson Electric in the 1st quarter valued at $147,000. Guardian Life Insurance Co. of America raised its position in Emerson Electric by 1.1% in the 1st 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 during the last quarter. Finally, Perkins Coie Trust Co purchased a new stake in Emerson Electric in the 2nd quarter valued at $150,000. 70.03% of the stock is owned by institutional investors and hedge funds.
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 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 can be accessed through this hyperlink. 0.79% of the stock is currently owned by corporate insiders.
A number of equities research analysts recently commented on the company. JMP Securities assumed coverage on Emerson Electric in a research report on Monday, June 19th. They issued an “outperform” rating and a $70.00 price target for the company. BidaskClub raised Emerson Electric from a “sell” rating to a “hold” rating in a research report on Friday, June 16th. Royal Bank Of Canada reissued a “sector perform” rating and issued a $62.00 price target (up from $61.00) on shares of Emerson Electric in a research report on Wednesday, August 2nd. Stifel Nicolaus reissued a “buy” rating and issued a $68.00 price target on shares of Emerson Electric in a research report on Wednesday, July 19th. Finally, Morgan Stanley reissued an “overweight” rating on shares of Emerson Electric in a research report on Tuesday, July 11th. Three analysts have rated the stock with a sell rating, eleven have given a hold rating and three have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $60.52.
Emerson Electric Company (NYSE EMR) opened at 62.84 on Friday. 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 1-year low of $49.22 and a 1-year high of $64.36. The company has a market cap of $40.22 billion, a P/E ratio of 28.04 and a beta of 1.18.
Emerson Electric (NYSE:EMR) last posted its quarterly earnings results on Tuesday, August 1st. The industrial products company reported $0.68 earnings per share for the quarter, hitting the Thomson Reuters’ 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%. The company’s revenue was up 9.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.68 earnings per share. On average, equities analysts anticipate 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 dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 3.06%. The ex-dividend date was Wednesday, August 9th. 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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