Emerson Electric Company (EMR) Position Cut by Private Asset Management Inc.
Private Asset Management Inc. trimmed its stake in shares of Emerson Electric Company (NYSE:EMR) by 94.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,520 shares of the industrial products company’s stock after selling 125,470 shares during the period. Private Asset Management Inc.’s holdings in Emerson Electric were worth $7,520,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently bought and sold shares of EMR. Tower Research Capital LLC TRC acquired a new stake in shares of Emerson Electric in the second quarter valued at about $109,000. Intellectus Partners LLC raised its position in shares of Emerson Electric by 0.3% in the second quarter. Intellectus Partners LLC now owns 2,094 shares of the industrial products company’s stock valued at $125,000 after buying an additional 7 shares during the last quarter. Oppenheimer Asset Management Inc. acquired a new stake in shares of Emerson Electric in the first quarter valued at about $127,000. Mountain Capital Investment Advisors Inc acquired a new stake in shares of Emerson Electric in the second quarter valued at about $129,000. Finally, AT Bancorp acquired a new stake in shares of Emerson Electric in the second quarter valued at about $139,000. 69.00% of the stock is currently owned by institutional investors and hedge funds.
In other news, VP Bell Katherine Button sold 7,909 shares of the firm’s stock in a transaction that occurred on Thursday, November 30th. The shares were sold at an average price of $64.78, for a total value of $512,345.02. Following the completion of the transaction, the vice president now owns 44,628 shares of the company’s stock, valued at $2,891,001.84. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 0.79% of the company’s stock.
Emerson Electric (NYSE:EMR) last posted its quarterly earnings data on Tuesday, November 7th. The industrial products company reported $0.83 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.83. Emerson Electric had a net margin of 9.94% and a return on equity of 20.47%. The business had revenue of $4.44 billion during the quarter, compared to analyst estimates of $4.43 billion. During the same quarter last year, the firm posted $0.74 earnings per share. The business’s revenue for the quarter was up 12.8% compared to the same quarter last year. sell-side analysts anticipate that Emerson Electric Company will post 2.91 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 11th. Stockholders of record on Friday, November 17th will be paid a $0.485 dividend. This is a positive change from Emerson Electric’s previous quarterly dividend of $0.48. The ex-dividend date of this dividend is Thursday, November 16th. This represents a $1.94 annualized dividend and a dividend yield of 3.00%. Emerson Electric’s dividend payout ratio (DPR) is presently 82.55%.
A number of equities research analysts have recently commented on the stock. Zacks Investment Research upgraded shares of Emerson Electric from a “sell” rating to a “hold” rating in a research report on Tuesday, October 31st. Cowen upgraded shares of Emerson Electric to a “buy” rating and set a $71.00 price objective for the company in a research report on Monday, October 23rd. Bank of America upgraded shares of Emerson Electric from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $64.44 to $79.00 in a research report on Tuesday, October 17th. J P Morgan Chase & Co started coverage on shares of Emerson Electric in a research report on Wednesday, November 29th. They set a “neutral” rating for the company. Finally, Citigroup restated a “sell” rating and set a $61.00 price objective (up from $58.00) on shares of Emerson Electric in a research report on Monday, October 9th. Three investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and four have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $65.14.
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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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