Profund Advisors LLC reduced its stake in shares of Emerson Electric Company (NYSE:EMR) by 4.3% in the second quarter, according to its most recent filing with the SEC. The fund owned 15,441 shares of the industrial products company’s stock after selling 689 shares during the period. Profund Advisors LLC’s holdings in Emerson Electric were worth $921,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Washington Trust Bank lifted its holdings 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 acquiring an additional 16 shares during the last quarter. RB Capital Management LLC lifted its holdings 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 acquiring an additional 26 shares during the last quarter. Parallel Advisors LLC lifted its holdings 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 acquiring an additional 26 shares during the last quarter. Guardian Life Insurance Co. of America lifted its stake in Emerson Electric by 1.1% in the first quarter. Guardian Life Insurance Co. of America now owns 2,491 shares of the industrial products company’s stock worth $149,000 after purchasing an additional 28 shares during the last quarter. Finally, Busey Trust CO lifted its stake in Emerson Electric by 0.5% in the second quarter. Busey Trust CO now owns 6,834 shares of the industrial products company’s stock worth $407,000 after purchasing an additional 31 shares during the last quarter. 70.18% of the stock is owned by institutional investors.
EMR has been the subject of several recent research reports. Stifel Nicolaus reissued a “buy” rating on shares of Emerson Electric in a research note on Thursday, October 12th. Wells Fargo & Company reissued a “market perform” rating and issued a $65.00 price target (up from $60.00) on shares of Emerson Electric in a research note on Wednesday, November 8th. Bank of America Corporation raised shares of Emerson Electric from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $64.44 to $79.00 in a research note on Tuesday, October 17th. Zacks Investment Research downgraded shares of Emerson Electric from a “hold” rating to a “sell” rating in a research note on Tuesday, October 17th. Finally, Royal Bank Of Canada reissued a “sector perform” rating and issued a $62.00 price target (up from $61.00) on shares of Emerson Electric in a research note on Wednesday, August 2nd. Three investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $65.14.
In related news, insider Robert T. Sharp sold 2,000 shares of the business’s stock in a transaction dated Thursday, August 31st. The shares were sold at an average price of $58.99, for a total transaction of $117,980.00. Following the transaction, the insider now owns 64,290 shares in the company, valued at $3,792,467.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.79% of the stock is owned by insiders.
Emerson Electric Company (NYSE:EMR) opened at $60.74 on Wednesday. The company has a market cap of $39,290.80, a PE ratio of 23.80, a PEG ratio of 2.80 and a beta of 1.24. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.30 and a current ratio of 1.64. Emerson Electric Company has a one year low of $53.92 and a one year high of $67.79.
Emerson Electric (NYSE:EMR) last announced its quarterly earnings results on Tuesday, November 7th. The industrial products company reported $0.83 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.83. Emerson Electric had a net margin of 9.94% and a return on equity of 20.47%. The company had revenue of $4.44 billion for the quarter, compared to analysts’ expectations of $4.43 billion. During the same quarter in the previous year, the company earned $0.74 earnings per share. Emerson Electric’s quarterly revenue was up 12.8% on a year-over-year basis. sell-side analysts predict that Emerson Electric Company will post 2.9 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, December 11th. Investors of record on Friday, November 17th will be given a dividend of $0.485 per share. The ex-dividend date of this dividend is Thursday, November 16th. This represents a $1.94 annualized dividend and a dividend yield of 3.19%. This is a boost from Emerson Electric’s previous quarterly dividend of $0.48. Emerson Electric’s payout ratio is currently 81.70%.
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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