North Star Asset Management Inc. Lowers Position in Emerson Electric Co. (NYSE:EMR)
North Star Asset Management Inc. lessened its stake in Emerson Electric Co. (NYSE:EMR) by 2.1% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 11,517 shares of the industrial products company’s stock after selling 251 shares during the quarter. North Star Asset Management Inc.’s holdings in Emerson Electric were worth $878,000 at the end of the most recent reporting period.
Other large investors also recently modified their holdings of the company. Candriam Luxembourg S.C.A. boosted its holdings in shares of Emerson Electric by 12.8% during the 3rd quarter. Candriam Luxembourg S.C.A. now owns 382,028 shares of the industrial products company’s stock valued at $26,000 after purchasing an additional 43,374 shares during the last quarter. Litman Gregory Asset Management LLC increased its holdings in shares of Emerson Electric by 108.0% in the fourth quarter. Litman Gregory Asset Management LLC now owns 337 shares of the industrial products company’s stock worth $26,000 after purchasing an additional 175 shares during the last quarter. Garrett Wealth Advisory Group LLC bought a new stake in shares of Emerson Electric in the third quarter worth about $31,000. Massey Quick Simon & CO. LLC lifted its position in shares of Emerson Electric by 1,823.1% in the third quarter. Massey Quick Simon & CO. LLC now owns 500 shares of the industrial products company’s stock worth $33,000 after buying an additional 474 shares in the last quarter. Finally, Golden State Wealth Management LLC lifted its position in shares of Emerson Electric by 38.5% in the third quarter. Golden State Wealth Management LLC now owns 540 shares of the industrial products company’s stock worth $36,000 after buying an additional 150 shares in the last quarter. Hedge funds and other institutional investors own 70.65% of the company’s stock.
In related news, insider Robert T. Sharp sold 7,000 shares of the stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $76.13, for a total transaction of $532,910.00. Following the sale, the insider now owns 131,315 shares in the company, valued at approximately $9,997,010.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.50% of the company’s stock.
Emerson Electric (NYSE:EMR) last issued its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $0.67 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.67. The business had revenue of $4.15 billion for the quarter, compared to the consensus estimate of $4.16 billion. Emerson Electric had a return on equity of 25.55% and a net margin of 11.79%. The company’s quarterly revenue was up .1% compared to the same quarter last year. During the same period in the prior year, the business posted $0.74 earnings per share. On average, analysts anticipate that Emerson Electric Co. will post 3.67 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 10th. Stockholders of record on Friday, February 14th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 2.72%. The ex-dividend date of this dividend is Thursday, February 13th. Emerson Electric’s dividend payout ratio is currently 54.20%.
Several equities analysts have weighed in on the company. Credit Suisse Group upgraded Emerson Electric from a “neutral” rating to an “outperform” rating in a report on Friday, January 3rd. Morgan Stanley lifted their price objective on Emerson Electric from $82.00 to $85.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 11th. Deutsche Bank decreased their price objective on Emerson Electric from $82.00 to $81.00 and set a “buy” rating on the stock in a report on Wednesday, December 4th. Cowen reiterated a “hold” rating and set a $74.00 target price on shares of Emerson Electric in a research report on Tuesday, February 4th. Finally, HSBC lowered shares of Emerson Electric from a “hold” rating to a “reduce” rating and set a $64.00 target price for the company. in a report on Thursday, November 14th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and seven have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $76.42.
About Emerson Electric
Emerson Electric Co, a technology and engineering company, provides various solutions to industrial, commercial, and consumer markets worldwide. The company's Automation Solutions segment offers products and integrated solutions, including measurement and analytical instrumentation; valves, actuators, and regulators; industrial solutions; and process control systems and solutions.
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