Xact Kapitalforvaltning AB lessened its stake in shares of Emerson Electric Company (NYSE:EMR) by 1.5% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 143,168 shares of the industrial products company’s stock after selling 2,200 shares during the quarter. Xact Kapitalforvaltning AB’s holdings in Emerson Electric were worth $8,997,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. Tower Research Capital LLC TRC purchased a new position in Emerson Electric during the 2nd quarter valued at about $109,000. Intellectus Partners LLC boosted its position in shares of Emerson Electric by 0.3% during the 2nd quarter. Intellectus Partners LLC now owns 2,094 shares of the industrial products company’s stock valued at $125,000 after acquiring an additional 7 shares during the last quarter. Oppenheimer Asset Management Inc. bought a new stake in shares of Emerson Electric during the 1st quarter valued at about $127,000. Mountain Capital Investment Advisors Inc bought a new stake in shares of Emerson Electric during the 2nd quarter valued at about $129,000. Finally, AT Bancorp bought a new stake in shares of Emerson Electric during the 2nd quarter valued at about $139,000. 69.00% of the stock is owned by institutional investors and hedge funds.
A number of analysts have recently issued reports on EMR shares. BidaskClub downgraded Emerson Electric from a “sell” rating to a “strong sell” rating in a research report on Friday, August 18th. Morgan Stanley reiterated an “equal weight” rating and set a $67.00 price target (up previously from $64.00) on shares of Emerson Electric in a research report on Monday, October 2nd. Citigroup reiterated a “sell” rating and set a $61.00 price target (up previously from $58.00) on shares of Emerson Electric in a research report on Monday, October 9th. Stifel Nicolaus reiterated a “buy” rating on shares of Emerson Electric in a research report on Thursday, October 12th. Finally, Bank of America upgraded Emerson Electric from a “neutral” rating to a “buy” rating and lifted their price target for the company from $64.44 to $79.00 in a research report on Tuesday, October 17th. Three research 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. The company presently has an average rating of “Hold” and a consensus target price of $65.64.
In related news, VP Bell Katherine Button sold 7,909 shares of the business’s stock in a transaction that occurred on Thursday, November 30th. The stock was sold at an average price of $64.78, for a total value of $512,345.02. Following the completion of the sale, the vice president now owns 44,628 shares in the company, valued at approximately $2,891,001.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Frank J. Dellaquila sold 2,100 shares of the business’s stock in a transaction that occurred on Wednesday, December 6th. The stock was sold at an average price of $64.77, for a total value of $136,017.00. Following the completion of the sale, the vice president now owns 178,743 shares of the company’s stock, valued at approximately $11,577,184.11. The disclosure for this sale can be found here. Insiders own 0.79% of the company’s stock.
Shares of Emerson Electric Company (NYSE EMR) opened at $66.55 on Friday. The firm has a market capitalization of $42,713.13, a P/E ratio of 25.79, a P/E/G ratio of 3.13 and a beta of 1.24. Emerson Electric Company has a 12-month low of $55.40 and a 12-month high of $67.79. 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 (NYSE:EMR) last released its earnings results on Tuesday, November 7th. The industrial products company reported $0.83 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.83. The company had revenue of $4.44 billion during the quarter, compared to the consensus estimate of $4.43 billion. Emerson Electric had a return on equity of 20.47% and a net margin of 9.94%. Emerson Electric’s quarterly revenue was up 12.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.74 EPS. analysts expect that Emerson Electric Company will post 2.92 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, December 11th. Investors of record on Friday, November 17th will be given a $0.485 dividend. This is an increase 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 dividend on an annualized basis and a yield of 2.92%. Emerson Electric’s payout ratio is presently 82.55%.
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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