Bessemer Group Inc. reduced its stake in Emerson Electric Company (NYSE:EMR) by 13.0% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 39,403 shares of the industrial products company’s stock after selling 5,904 shares during the period. Bessemer Group Inc.’s holdings in Emerson Electric were worth $2,350,000 as of its most recent SEC filing.
A number of other hedge funds also recently modified their holdings of the business. Vanguard Group Inc. boosted its stake in Emerson Electric by 5.8% in the first quarter. Vanguard Group Inc. now owns 43,698,252 shares of the industrial products company’s stock valued at $2,615,777,000 after acquiring an additional 2,404,844 shares during the period. Bank of New York Mellon Corp boosted its stake in Emerson Electric by 2.3% in the first quarter. Bank of New York Mellon Corp now owns 14,552,526 shares of the industrial products company’s stock valued at $871,114,000 after acquiring an additional 332,238 shares during the period. Longview Partners Guernsey LTD boosted its stake in Emerson Electric by 4.4% in the second quarter. Longview Partners Guernsey LTD now owns 12,624,050 shares of the industrial products company’s stock valued at $752,646,000 after acquiring an additional 526,712 shares during the period. American International Group Inc. boosted its stake in Emerson Electric by 0.6% in the first quarter. American International Group Inc. now owns 9,041,764 shares of the industrial products company’s stock valued at $541,240,000 after acquiring an additional 53,444 shares during the period. Finally, American Century Companies Inc. boosted its stake in Emerson Electric by 19.4% in the first quarter. American Century Companies Inc. now owns 4,338,862 shares of the industrial products company’s stock valued at $259,724,000 after acquiring an additional 705,924 shares during the period. Institutional investors own 70.03% of the company’s stock.
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 value of $117,980.00. Following the sale, the insider now directly owns 64,290 shares of the company’s stock, valued at $3,792,467.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.79% of the company’s stock.
Shares of Emerson Electric Company (NYSE EMR) opened at 63.89 on Thursday. Emerson Electric Company has a 52-week low of $49.22 and a 52-week 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. The firm has a market capitalization of $40.89 billion, a P/E ratio of 28.51 and a beta of 1.18.
Emerson Electric (NYSE:EMR) last issued its quarterly earnings results on Tuesday, August 1st. The industrial products company reported $0.68 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.68. The firm had revenue of $4.04 billion for 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 business’s revenue was up 9.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.68 earnings per share. On average, equities research analysts anticipate that Emerson Electric Company will post $2.61 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Monday, September 11th. Stockholders of record on Friday, August 11th were paid a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 3.01%. The ex-dividend date was Wednesday, August 9th. Emerson Electric’s dividend payout ratio is presently 85.33%.
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A number of brokerages have commented on EMR. BidaskClub downgraded Emerson Electric from a “sell” rating to a “strong sell” rating in a research note on Friday, August 18th. Royal Bank Of Canada restated a “sector perform” rating and issued a $62.00 target price (up from $61.00) on shares of Emerson Electric in a research note on Wednesday, August 2nd. Berenberg Bank restated a “sell” rating and issued a $53.00 target price on shares of Emerson Electric in a research note on Friday, August 11th. Morgan Stanley restated an “overweight” rating on shares of Emerson Electric in a research note on Tuesday, July 11th. Finally, Stifel Nicolaus restated a “buy” rating and issued a $68.00 target price on shares of Emerson Electric in a research note on Wednesday, July 19th. Three investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $60.52.
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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