Fulton Bank N.A. reduced its stake in Emerson Electric Company (NYSE:EMR) by 5.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,662 shares of the industrial products company’s stock after selling 399 shares during the period. Fulton Bank N.A.’s holdings in Emerson Electric were worth $397,000 at the end of the most recent quarter.
Several other large investors also recently added to or reduced their stakes in EMR. Physicians Financial Services Inc. increased its holdings in shares of Emerson Electric by 21.1% in the first quarter. Physicians Financial Services Inc. now owns 6,362 shares of the industrial products company’s stock valued at $381,000 after purchasing an additional 1,108 shares during the last quarter. Kanawha Capital Management LLC increased its holdings in shares of Emerson Electric by 0.3% in the first quarter. Kanawha Capital Management LLC now owns 99,902 shares of the industrial products company’s stock valued at $5,980,000 after purchasing an additional 314 shares during the last quarter. Nikko Asset Management Americas Inc. acquired a new position in shares of Emerson Electric in the first quarter valued at $2,436,000. Parsec Financial Management Inc. increased its holdings in shares of Emerson Electric by 2.3% in the first quarter. Parsec Financial Management Inc. now owns 272,216 shares of the industrial products company’s stock valued at $16,295,000 after purchasing an additional 6,063 shares during the last quarter. Finally, State of New Jersey Common Pension Fund D increased its holdings in shares of Emerson Electric by 2.5% in the first quarter. State of New Jersey Common Pension Fund D now owns 125,000 shares of the industrial products company’s stock valued at $7,483,000 after purchasing an additional 3,000 shares during the last quarter. Hedge funds and other institutional investors own 70.03% of the company’s stock.
In other Emerson Electric news, insider Robert T. Sharp sold 2,000 shares of Emerson Electric stock in a transaction dated 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 transaction, the insider now owns 64,290 shares of the company’s stock, valued at approximately $3,792,467.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.79% of the stock is owned by insiders.
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Several equities analysts have commented on EMR shares. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $62.00 price objective (up from $61.00) on shares of Emerson Electric in a report on Wednesday, August 2nd. Berenberg Bank reiterated a “sell” rating and issued a $53.00 price objective on shares of Emerson Electric in a report on Friday, August 11th. JMP Securities started coverage on shares of Emerson Electric in a report on Monday, June 19th. They issued an “outperform” rating and a $70.00 price objective on the stock. Morgan Stanley reiterated an “overweight” rating on shares of Emerson Electric in a report on Tuesday, July 11th. Finally, BidaskClub downgraded shares of Emerson Electric from a “sell” rating to a “strong sell” rating in a report on Friday, August 18th. Three research analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $60.52.
Emerson Electric Company (EMR) traded up 1.03% during midday trading on Wednesday, reaching $63.86. 905,594 shares of the company traded hands. The firm has a market capitalization of $40.87 billion, a price-to-earnings ratio of 28.50 and a beta of 1.18. Emerson Electric Company has a one year low of $49.22 and a one year high of $64.36. The firm has a 50-day moving average price of $59.86 and a 200-day moving average price of $59.57.
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, meeting the Zacks’ consensus estimate of $0.68. The business had revenue of $4.04 billion during the quarter, compared to analyst estimates of $3.99 billion. Emerson Electric had a return on equity of 22.32% and a net margin of 8.89%. The company’s quarterly revenue was up 9.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.68 EPS. Equities analysts predict that Emerson Electric Company will post $2.61 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Monday, September 11th. Shareholders of record on Friday, August 11th were issued a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 3.04%. The ex-dividend date was Wednesday, August 9th. Emerson Electric’s payout ratio is presently 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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