Arvest Bank Trust Division reduced its stake in shares of Emerson Electric Company (NYSE:EMR) by 29.4% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,439 shares of the industrial products company’s stock after selling 1,847 shares during the quarter. Arvest Bank Trust Division’s holdings in Emerson Electric were worth $265,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently modified their holdings of EMR. Central Bank & Trust Co. boosted its stake in shares of Emerson Electric by 31.3% during the first quarter. Central Bank & Trust Co. now owns 2,100 shares of the industrial products company’s stock valued at $126,000 after purchasing an additional 500 shares during the period. Oppenheimer Asset Management Inc. purchased a new stake in shares of Emerson Electric during the first quarter valued at $127,000. Harbour Capital Advisors LLC purchased a new stake in shares of Emerson Electric during the first quarter valued at $147,000. Guardian Life Insurance Co. of America boosted its stake in shares of Emerson Electric by 1.1% during the first quarter. Guardian Life Insurance Co. of America now owns 2,491 shares of the industrial products company’s stock valued at $149,000 after purchasing an additional 28 shares during the period. Finally, Perkins Coie Trust Co purchased a new stake in shares of Emerson Electric during the second quarter valued at $150,000. 70.03% of the stock is owned by hedge funds and other institutional investors.
In related news, insider Robert T. Sharp sold 2,000 shares of the business’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 transaction of $117,980.00. Following the completion of the sale, the insider now owns 64,290 shares in the company, valued at $3,792,467.10. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.79% of the stock is owned by insiders.
EMR has been the subject of a number of recent analyst reports. JMP Securities initiated coverage on shares of Emerson Electric in a research note on Monday, June 19th. They set an “outperform” rating and a $70.00 target price for the company. Stifel Nicolaus reaffirmed a “buy” rating and issued a $68.00 price objective on shares of Emerson Electric in a research note on Wednesday, July 19th. Morgan Stanley reaffirmed an “overweight” rating on shares of Emerson Electric in a research note on Tuesday, July 11th. BidaskClub raised shares of Emerson Electric from a “sell” rating to a “hold” rating in a research note on Friday, June 16th. Finally, Berenberg Bank reaffirmed a “sell” rating and issued a $53.00 price objective on shares of Emerson Electric in a research note on Friday, August 11th. Three research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have given a buy rating to the stock. Emerson Electric currently has an average rating of “Hold” and a consensus price target of $60.52.
Emerson Electric Company (NYSE:EMR) remained flat at $63.44 during trading on Friday. 2,271,452 shares of the stock traded hands. The company has a market cap of $40.60 billion, a P/E ratio of 28.31 and a beta of 1.18. The company has a 50 day moving average of $59.86 and a 200 day moving average of $59.57. Emerson Electric Company has a 52 week low of $49.22 and a 52 week high of $64.36.
Emerson Electric (NYSE:EMR) last posted its earnings results on Tuesday, August 1st. The industrial products company reported $0.68 earnings per share for the quarter, hitting the consensus estimate of $0.68. The firm had revenue of $4.04 billion during the quarter, compared to analysts’ expectations of $3.99 billion. Emerson Electric had a return on equity of 22.32% and a net margin of 8.89%. The firm’s revenue was up 9.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.68 earnings per share. On average, equities analysts anticipate that Emerson Electric Company will post $2.61 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Monday, September 11th. Investors of record on Friday, August 11th were paid a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a yield of 3.03%. The ex-dividend date of this dividend was Wednesday, August 9th. Emerson Electric’s payout ratio is 85.33%.
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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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