Alliancebernstein L.P. Trims Holdings in Emerson Electric Company (EMR)
Alliancebernstein L.P. cut its stake in Emerson Electric Company (NYSE:EMR) by 10.7% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,131,286 shares of the industrial products company’s stock after selling 135,107 shares during the period. Alliancebernstein L.P. owned approximately 0.18% of Emerson Electric worth $67,447,000 as of its most recent SEC filing.
A number of other institutional investors also recently modified their holdings of the business. AMG Funds LLC boosted its holdings in Emerson Electric by 0.8% in the 2nd quarter. AMG Funds LLC now owns 31,534 shares of the industrial products company’s stock valued at $1,880,000 after purchasing an additional 253 shares during the period. Aberdeen Asset Management PLC UK boosted its holdings in Emerson Electric by 5.3% in the 2nd quarter. Aberdeen Asset Management PLC UK now owns 410,742 shares of the industrial products company’s stock valued at $24,489,000 after purchasing an additional 20,776 shares during the period. HPM Partners LLC boosted its holdings in Emerson Electric by 40.7% in the 2nd quarter. HPM Partners LLC now owns 46,653 shares of the industrial products company’s stock valued at $3,567,000 after purchasing an additional 13,489 shares during the period. AXA boosted its holdings in Emerson Electric by 77.1% in the 2nd quarter. AXA now owns 804,211 shares of the industrial products company’s stock valued at $47,947,000 after purchasing an additional 350,174 shares during the period. Finally, Systematic Financial Management LP boosted its holdings in Emerson Electric by 26.4% in the 2nd quarter. Systematic Financial Management LP now owns 32,494 shares of the industrial products company’s stock valued at $1,937,000 after purchasing an additional 6,789 shares during the period. 70.14% of the stock is owned by hedge funds and other institutional investors.
In other Emerson Electric news, insider Robert T. Sharp sold 2,000 shares of the firm’s stock in a transaction dated Thursday, August 31st. The shares were 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 in the company, valued at approximately $3,792,467.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.79% of the company’s stock.
A number of equities analysts have recently issued reports on EMR shares. Stifel Nicolaus restated a “buy” rating on shares of Emerson Electric in a research note on Thursday, October 12th. Bank of America Corporation upgraded shares of Emerson Electric from a “neutral” rating to a “buy” rating and increased their price objective for the company from $64.44 to $79.00 in a research note on Tuesday, October 17th. Zacks Investment Research cut shares of Emerson Electric from a “hold” rating to a “sell” rating in a research note on Tuesday, October 17th. Royal Bank Of Canada restated a “sector perform” rating and issued a $62.00 price objective (up previously from $61.00) on shares of Emerson Electric in a research note on Wednesday, August 2nd. Finally, Morgan Stanley restated an “equal weight” rating and issued a $67.00 price objective (up previously from $64.00) on shares of Emerson Electric in a research note on Monday, October 2nd. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $64.42.
Shares of Emerson Electric Company (NYSE EMR) opened at $63.08 on Wednesday. The stock has a market cap of $41,294.06, a PE ratio of 23.81, a P/E/G ratio of 2.93 and a beta of 1.24. The company has a current ratio of 1.59, a quick ratio of 1.24 and a debt-to-equity ratio of 0.47. Emerson Electric Company has a 1 year low of $49.73 and a 1 year high of $67.79.
Emerson Electric (NYSE:EMR) last announced its earnings results on Tuesday, November 7th. The industrial products company reported $0.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.79 by $0.04. The business had revenue of $4.44 billion during the quarter, compared to analysts’ expectations of $4.43 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 12.8% on a year-over-year basis. During the same quarter last year, the company posted $0.74 EPS. analysts expect that Emerson Electric Company will post 2.64 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 11th. Shareholders of record on Friday, November 17th will be given a $0.485 dividend. This represents a $1.94 annualized dividend and a yield of 3.08%. This is a boost from Emerson Electric’s previous quarterly dividend of $0.48. Emerson Electric’s dividend payout ratio (DPR) is presently 85.33%.
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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