Emerson Electric Company (EMR) Shares Bought by Norris Perne & French LLP MI
Norris Perne & French LLP MI increased its holdings in shares of Emerson Electric Company (NYSE:EMR) by 7.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 82,480 shares of the industrial products company’s stock after acquiring an additional 6,022 shares during the quarter. Norris Perne & French LLP MI’s holdings in Emerson Electric were worth $4,917,000 as of its most recent SEC filing.
Other institutional investors have also modified their holdings of the company. Greenleaf Trust increased its position in Emerson Electric by 5.8% in the first quarter. Greenleaf Trust now owns 9,344 shares of the industrial products company’s stock worth $559,000 after buying an additional 510 shares during the last quarter. Garrison Bradford & Associates Inc. purchased a new position in shares of Emerson Electric during the 1st quarter valued at $204,000. Linscomb & Williams Inc. lifted its position in shares of Emerson Electric by 9.9% during the 1st quarter. Linscomb & Williams Inc. now owns 56,384 shares of the industrial products company’s stock valued at $3,375,000 after buying an additional 5,064 shares during the last quarter. Canada Pension Plan Investment Board lifted its position in shares of Emerson Electric by 95.1% during the 1st quarter. Canada Pension Plan Investment Board now owns 428,000 shares of the industrial products company’s stock valued at $25,620,000 after buying an additional 208,600 shares during the last quarter. Finally, Cadence Bank NA lifted its position in shares of Emerson Electric by 0.3% during the 1st 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 during the last quarter. Institutional investors and hedge funds own 70.03% of the company’s stock.
In other news, insider Robert T. Sharp sold 2,000 shares of Emerson Electric stock in a transaction that occurred on 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 transaction, the insider now owns 64,290 shares in the company, valued at approximately $3,792,467.10. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.79% of the stock is owned by company insiders.
A number of brokerages recently commented on EMR. Royal Bank Of Canada restated a “sector perform” rating and set a $62.00 price target (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 target on shares of Emerson Electric in a report on Friday, August 11th. JMP Securities began coverage on Emerson Electric in a report on Monday, June 19th. They issued an “outperform” rating and a $70.00 price target for the company. Morgan Stanley reiterated an “overweight” rating on shares of Emerson Electric in a research report on Tuesday, July 11th. Finally, BidaskClub cut Emerson Electric from a “sell” rating to a “strong sell” rating in a research report on Friday, August 18th. Three equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and three have given a buy rating to the company’s stock. Emerson Electric has an average rating of “Hold” and a consensus price target of $61.02.
Shares of Emerson Electric Company (EMR) opened at 63.33 on Wednesday. The stock has a 50 day moving average of $60.75 and a 200-day moving average of $59.81. Emerson Electric Company has a one year low of $49.22 and a one year high of $64.36. The company has a market capitalization of $40.53 billion, a price-to-earnings ratio of 28.26 and a beta of 1.22.
Emerson Electric (NYSE:EMR) last announced 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 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 for the quarter was up 9.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.68 EPS. On average, equities analysts expect that Emerson Electric Company will post $2.61 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, September 11th. Shareholders 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 dividend on an annualized basis and a yield of 3.03%. Emerson Electric’s dividend payout ratio (DPR) is presently 85.33%.
Emerson Electric 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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