Charter Trust Co. lowered its stake in shares of Emerson Electric Company (NYSE:EMR) by 3.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 84,492 shares of the industrial products company’s stock after selling 2,833 shares during the period. Charter Trust Co.’s holdings in Emerson Electric were worth $5,037,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of the business. Bridgewater Associates LP bought a new position in shares of Emerson Electric in the first quarter worth $351,000. Vanguard Group Inc. increased its holdings in shares of Emerson Electric by 5.8% in the first quarter. Vanguard Group Inc. now owns 43,698,252 shares of the industrial products company’s stock worth $2,615,777,000 after purchasing an additional 2,404,844 shares during the period. Benedict Financial Advisors Inc. increased its holdings in shares of Emerson Electric by 0.6% in the first quarter. Benedict Financial Advisors Inc. now owns 46,836 shares of the industrial products company’s stock worth $2,804,000 after purchasing an additional 262 shares during the period. TIAA CREF Investment Management LLC increased its holdings in shares of Emerson Electric by 18.4% in the first quarter. TIAA CREF Investment Management LLC now owns 1,299,564 shares of the industrial products company’s stock worth $77,792,000 after purchasing an additional 201,677 shares during the period. Finally, WINTON GROUP Ltd increased its holdings in shares of Emerson Electric by 525.0% in the first quarter. WINTON GROUP Ltd now owns 246,278 shares of the industrial products company’s stock worth $13,425,000 after purchasing an additional 206,871 shares during the period. Hedge funds and other institutional investors own 70.19% of the company’s stock.
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Several research analysts have recently weighed in on the stock. BidaskClub cut shares of Emerson Electric from a “sell” rating to a “strong sell” rating in a report on Friday, August 18th. Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $62.00 price target (up previously from $61.00) on shares of Emerson Electric in a report on Wednesday, August 2nd. Berenberg Bank reaffirmed a “sell” rating and issued a $53.00 price target on shares of Emerson Electric in a report on Friday, August 11th. Morgan Stanley reaffirmed an “overweight” rating on shares of Emerson Electric in a report on Tuesday, July 11th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and issued a $68.00 price target on shares of Emerson Electric in a report on Wednesday, July 19th. Three analysts have rated the stock with a sell rating, twelve have given a hold rating and three have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $60.52.
In other Emerson Electric news, insider Robert T. Sharp sold 2,000 shares of the business’s stock in a transaction on Thursday, August 31st. The shares were sold at an average price of $58.99, for a total value of $117,980.00. Following the sale, the insider now owns 64,290 shares in the company, valued at approximately $3,792,467.10. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.79% of the stock is owned by insiders.
Emerson Electric Company (NYSE EMR) traded up 0.74% on Friday, reaching $62.35. The company had a trading volume of 4,441,677 shares. The stock has a market capitalization of $39.91 billion, a PE ratio of 27.82 and a beta of 1.18. Emerson Electric Company has a 12-month low of $49.22 and a 12-month high of $64.36. The stock’s 50 day moving average price is $59.65 and its 200-day moving average price is $59.54.
Emerson Electric (NYSE:EMR) last announced its quarterly earnings results on Tuesday, August 1st. The industrial products company reported $0.68 EPS for the quarter, hitting the consensus estimate of $0.68. The business had revenue of $4.04 billion for the quarter, compared to analysts’ expectations of $3.99 billion. Emerson Electric had a net margin of 8.89% and a return on equity of 22.32%. The business’s quarterly revenue was up 9.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.68 EPS. Equities analysts expect that Emerson Electric Company will post $2.61 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Monday, September 11th. Shareholders of record on Friday, August 11th were paid a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 3.08%. The ex-dividend date was Wednesday, August 9th. Emerson Electric’s payout ratio is currently 85.33%.
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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