Edgar Lomax Co. VA cut its position in Emerson Electric Company (NYSE:EMR) by 2.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 681,908 shares of the industrial products company’s stock after selling 19,650 shares during the period. Emerson Electric accounts for approximately 2.8% of Edgar Lomax Co. VA’s investment portfolio, making the stock its 13th biggest holding. Edgar Lomax Co. VA owned about 0.11% of Emerson Electric worth $40,655,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also made changes to their positions in EMR. Washington Trust Bank lifted its position in shares of Emerson Electric by 0.4% during the 2nd quarter. Washington Trust Bank now owns 4,040 shares of the industrial products company’s stock worth $241,000 after buying an additional 16 shares in the last quarter. RB Capital Management LLC lifted its position in shares of Emerson Electric by 0.6% during the 2nd quarter. RB Capital Management LLC now owns 4,475 shares of the industrial products company’s stock worth $267,000 after buying an additional 26 shares in the last quarter. Parallel Advisors LLC lifted its position in shares of Emerson Electric by 0.5% during the 2nd quarter. Parallel Advisors LLC now owns 4,892 shares of the industrial products company’s stock worth $292,000 after buying an additional 26 shares in the last quarter. Guardian Life Insurance Co. of America lifted its position in shares of Emerson Electric by 1.1% during the 1st quarter. Guardian Life Insurance Co. of America now owns 2,491 shares of the industrial products company’s stock worth $149,000 after buying an additional 28 shares in the last quarter. Finally, Busey Trust CO lifted its position in shares of Emerson Electric by 0.5% during the 2nd quarter. Busey Trust CO now owns 6,834 shares of the industrial products company’s stock worth $407,000 after buying an additional 31 shares in the last quarter. 69.00% of the stock is currently owned by institutional investors and hedge funds.
Emerson Electric Company (EMR) traded up $0.05 on Wednesday, hitting $64.73. 3,011,741 shares of the stock were exchanged, compared to its average volume of 3,435,235. The stock has a market cap of $41,550.00, a price-to-earnings ratio of 25.23, a P/E/G ratio of 3.06 and a beta of 1.24. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.64 and a quick ratio of 1.30. Emerson Electric Company has a 12-month low of $55.40 and a 12-month high of $67.79.
Emerson Electric (NYSE:EMR) last released its quarterly earnings results on Tuesday, November 7th. The industrial products company reported $0.83 EPS for the quarter, meeting analysts’ consensus estimates of $0.83. Emerson Electric had a net margin of 9.94% and a return on equity of 20.47%. The firm had revenue of $4.44 billion during the quarter, compared to analyst estimates of $4.43 billion. During the same period in the previous year, the business earned $0.74 EPS. The business’s revenue for the quarter was up 12.8% on a year-over-year basis. research analysts forecast that Emerson Electric Company will post 2.91 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 11th. Stockholders of record on Friday, November 17th will be issued a dividend of $0.485 per share. This is an increase from Emerson Electric’s previous quarterly dividend of $0.48. This represents a $1.94 dividend on an annualized basis and a dividend yield of 3.00%. The ex-dividend date of this dividend is Thursday, November 16th. Emerson Electric’s payout ratio is currently 75.78%.
Several equities analysts have commented on the stock. 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 on the stock. Citigroup set a $61.00 price target on shares of Emerson Electric and gave the stock a “sell” rating in a research note on Tuesday, November 28th. Cowen upgraded shares of Emerson Electric from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $61.00 to $71.00 in a research note on Tuesday, November 28th. Edward Jones lowered shares of Emerson Electric from a “buy” rating to a “hold” rating in a research note on Friday, November 17th. Finally, Robert W. Baird restated a “hold” rating and set a $70.00 price target on shares of Emerson Electric in a research note on Friday, November 10th. Three investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and four have assigned a buy rating to the company. Emerson Electric currently has a consensus rating of “Hold” and an average price target of $65.14.
In other news, VP Bell Katherine Button sold 7,909 shares of Emerson Electric stock in a transaction on Thursday, November 30th. The shares were sold at an average price of $64.78, for a total transaction of $512,345.02. Following the completion of the sale, the vice president now directly owns 44,628 shares of the company’s stock, valued at approximately $2,891,001.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.79% of the company’s stock.
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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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