Farmers Trust Co. lessened its stake in Emerson Electric Company (NYSE:EMR) by 8.0% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,495 shares of the industrial products company’s stock after selling 479 shares during the quarter. Farmers Trust Co.’s holdings in Emerson Electric were worth $328,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its holdings in Emerson Electric by 5.8% in the 1st quarter. Vanguard Group Inc. now owns 43,698,252 shares of the industrial products company’s stock worth $2,615,777,000 after acquiring an additional 2,404,844 shares during the period. Bank of New York Mellon Corp boosted its holdings in Emerson Electric by 2.3% in the 1st quarter. Bank of New York Mellon Corp now owns 14,552,526 shares of the industrial products company’s stock worth $871,114,000 after acquiring an additional 332,238 shares during the period. American International Group Inc. boosted its holdings in Emerson Electric by 0.6% in the 1st quarter. American International Group Inc. now owns 9,041,764 shares of the industrial products company’s stock worth $541,240,000 after acquiring an additional 53,444 shares during the period. American Century Companies Inc. boosted its holdings in Emerson Electric by 19.4% in the 1st quarter. American Century Companies Inc. now owns 4,338,862 shares of the industrial products company’s stock worth $259,724,000 after acquiring an additional 705,924 shares during the period. Finally, Legal & General Group Plc boosted its holdings in Emerson Electric by 5.5% in the 1st quarter. Legal & General Group Plc now owns 3,358,845 shares of the industrial products company’s stock worth $201,055,000 after acquiring an additional 174,816 shares during the period. Hedge funds and other institutional investors own 70.19% of the company’s stock.
EMR has been the subject of several research analyst reports. JMP Securities initiated coverage on Emerson Electric in a research note on Monday, June 19th. They set an “outperform” rating and a $70.00 target price for the company. BidaskClub upgraded Emerson Electric from a “sell” rating to a “hold” rating in a research note on Friday, June 16th. Royal Bank Of Canada reiterated a “sector perform” rating and set a $62.00 target price (up from $61.00) on shares of Emerson Electric in a research note on Wednesday, August 2nd. Stifel Nicolaus reiterated a “buy” rating and set a $68.00 target price on shares of Emerson Electric in a research note on Wednesday, July 19th. Finally, Morgan Stanley reiterated an “overweight” rating on shares of Emerson Electric in a research note on Tuesday, July 11th. Three equities 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 company. The company has an average rating of “Hold” and a consensus target price of $60.52.
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Shares of Emerson Electric Company (NYSE EMR) traded up 0.74% during trading on Friday, reaching $62.35. The company had a trading volume of 4,441,677 shares. The stock has a 50 day moving average price of $59.65 and a 200 day moving average price of $59.54. The firm 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.
Emerson Electric (NYSE:EMR) last announced its quarterly earnings data on Tuesday, August 1st. The industrial products company reported $0.68 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.68. Emerson Electric had a return on equity of 22.32% and a net margin of 8.89%. The company had revenue of $4.04 billion for the quarter, compared to analyst estimates of $3.99 billion. During the same quarter last year, the firm earned $0.68 EPS. Emerson Electric’s revenue for the quarter was up 9.9% compared to the same quarter last year. On average, equities research analysts forecast that Emerson Electric Company will post $2.61 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, September 11th. Stockholders of record on Friday, August 11th were issued a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 3.08%. The ex-dividend date of this dividend was Wednesday, August 9th. Emerson Electric’s payout ratio is presently 85.33%.
In other news, insider Robert T. Sharp sold 2,000 shares of Emerson Electric 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 sale, the insider now owns 64,290 shares of the company’s stock, valued at approximately $3,792,467.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.79% of the stock is currently owned by company insiders.
Emerson Electric 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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