Emerson Electric Company (EMR) Shares Sold by Baxter Bros Inc.
Baxter Bros Inc. cut its stake in Emerson Electric Company (NYSE:EMR) by 0.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 12,741 shares of the industrial products company’s stock after selling 96 shares during the period. Baxter Bros Inc.’s holdings in Emerson Electric were worth $760,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors also recently made changes to their positions in EMR. Canada Pension Plan Investment Board raised its stake in shares of Emerson Electric by 95.1% during the first quarter. Canada Pension Plan Investment Board now owns 428,000 shares of the industrial products company’s stock worth $25,620,000 after buying an additional 208,600 shares during the last quarter. Cadence Bank NA raised its stake in shares of Emerson Electric by 0.3% during the first quarter. Cadence Bank NA now owns 12,322 shares of the industrial products company’s stock worth $738,000 after buying an additional 37 shares during the last quarter. Brookstone Capital Management raised its stake in shares of Emerson Electric by 7.9% during the first quarter. Brookstone Capital Management now owns 103,452 shares of the industrial products company’s stock worth $6,193,000 after buying an additional 7,580 shares during the last quarter. Jennison Associates LLC raised its stake in shares of Emerson Electric by 382.3% during the first quarter. Jennison Associates LLC now owns 50,207 shares of the industrial products company’s stock worth $3,005,000 after buying an additional 39,797 shares during the last quarter. Finally, Strategy Asset Managers LLC raised its stake in shares of Emerson Electric by 2.2% during the first quarter. Strategy Asset Managers LLC now owns 21,539 shares of the industrial products company’s stock worth $1,289,000 after buying an additional 468 shares during the last quarter. 70.03% of the stock is owned by institutional investors.
Shares of Emerson Electric Company (NYSE:EMR) opened at 63.98 on Friday. The firm has a 50-day moving average of $61.01 and a 200 day moving average of $59.87. Emerson Electric Company has a 52 week low of $49.22 and a 52 week high of $64.36. The company has a market cap of $40.95 billion, a P/E ratio of 28.55 and a beta of 1.22.
Emerson Electric (NYSE:EMR) last released its quarterly earnings results on Tuesday, August 1st. The industrial products company reported $0.68 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.68. Emerson Electric had a net margin of 8.89% and a return on equity of 22.32%. The firm had revenue of $4.04 billion during the quarter, compared to analyst estimates of $3.99 billion. During the same quarter last year, the business earned $0.68 EPS. The company’s revenue was up 9.9% compared to the same quarter last year. Equities analysts anticipate that Emerson Electric Company will post $2.61 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Monday, September 11th. Shareholders of record on Friday, August 11th were issued a dividend of $0.48 per share. The ex-dividend date was Wednesday, August 9th. This represents a $1.92 annualized dividend and a yield of 3.00%. Emerson Electric’s payout ratio is 85.33%.
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In other Emerson Electric news, insider Robert T. Sharp sold 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 31st. The shares were sold at an average price of $58.99, for a total transaction 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 transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.79% of the stock is currently owned by company insiders.
A number of research firms recently weighed in on EMR. BidaskClub downgraded shares of Emerson Electric from a “sell” rating to a “strong sell” rating in a research note on Friday, August 18th. Stifel Nicolaus reissued a “buy” rating and set a $68.00 price target on shares of Emerson Electric in a research note on Wednesday, July 19th. Morgan Stanley reissued an “overweight” rating on shares of Emerson Electric in a research note on Tuesday, July 11th. Berenberg Bank reissued a “sell” rating and set a $53.00 price target on shares of Emerson Electric in a research note on Friday, August 11th. Finally, Royal Bank Of Canada reissued 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. Three investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and two have issued a buy rating to the company. Emerson Electric has a consensus rating of “Hold” and an average target price of $60.68.
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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