Emerson Electric Company (EMR) Holdings Trimmed by Wedge Capital Management L L P NC
Wedge Capital Management L L P NC lessened its holdings in shares of Emerson Electric Company (NYSE:EMR) by 1.9% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 397,132 shares of the industrial products company’s stock after selling 7,578 shares during the quarter. Wedge Capital Management L L P NC owned 0.06% of Emerson Electric worth $23,677,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also modified their holdings of EMR. Advisory Services Network LLC acquired a new stake in Emerson Electric during the 1st quarter valued at approximately $807,000. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its stake in Emerson Electric by 3.7% during the 1st quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 103,234 shares of the industrial products company’s stock valued at $6,180,000 after purchasing an additional 3,687 shares in the last quarter. Cliftonlarsonallen Wealth Advisors LLC grew its stake in Emerson Electric by 0.9% during the 1st quarter. Cliftonlarsonallen Wealth Advisors LLC now owns 13,562 shares of the industrial products company’s stock valued at $812,000 after purchasing an additional 120 shares in the last quarter. Sequoia Financial Advisors LLC acquired a new stake in Emerson Electric during the 1st quarter valued at approximately $213,000. Finally, Welch Investments LLC grew its stake in Emerson Electric by 4.6% during the 1st quarter. Welch Investments LLC now owns 70,872 shares of the industrial products company’s stock valued at $4,242,000 after purchasing an additional 3,090 shares in the last quarter. Hedge funds and other institutional investors own 70.01% of the company’s stock.
A number of equities research analysts have weighed in on EMR shares. Stifel Nicolaus restated a “buy” rating and set a $68.00 price objective on shares of Emerson Electric in a research note on Wednesday, July 19th. Morgan Stanley reaffirmed an “equal weight” rating and set a $67.00 target price (up previously from $64.00) on shares of Emerson Electric in a report on Monday, October 2nd. BidaskClub raised Emerson Electric from a “sell” rating to a “hold” rating in a report on Friday, June 16th. JMP Securities assumed coverage on Emerson Electric in a report on Monday, June 19th. They set an “outperform” rating and a $70.00 target price on the stock. Finally, Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $62.00 target price (up previously from $61.00) on shares of Emerson Electric in a report on Wednesday, August 2nd. Three investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and two have assigned a buy rating to the company’s stock. Emerson Electric currently has a consensus rating of “Hold” and an average price target of $60.68.
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Emerson Electric Company (NYSE:EMR) opened at 63.70 on Monday. The firm’s 50-day moving average price is $61.17 and its 200-day moving average price is $59.90. The company has a market cap of $40.77 billion, a P/E ratio of 28.42 and a beta of 1.21. Emerson Electric Company has a 12-month low of $49.22 and a 12-month high of $64.36.
Emerson Electric (NYSE:EMR) last issued its quarterly earnings results on Tuesday, August 1st. The industrial products company reported $0.68 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.68. Emerson Electric had a return on equity of 22.32% and a net margin of 8.89%. The firm had revenue of $4.04 billion for the quarter, compared to analyst estimates of $3.99 billion. During the same period in the previous year, the company posted $0.68 earnings per share. The company’s quarterly revenue was up 9.9% compared to the same quarter last year. Analysts expect that Emerson Electric Company will post $2.61 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, September 11th. Stockholders of record on Friday, August 11th were paid a $0.48 dividend. The ex-dividend date of this dividend was Wednesday, August 9th. This represents a $1.92 annualized dividend and a dividend yield of 3.01%. Emerson Electric’s dividend payout ratio is currently 85.33%.
In other news, insider Robert T. Sharp sold 2,000 shares of the company’s 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 sale, the insider now directly owns 64,290 shares in the company, valued at approximately $3,792,467.10. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.79% of the company’s stock.
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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