Fayez Sarofim & Co. Lowers Stake in Emerson Electric Company (EMR)

Fayez Sarofim & Co. reduced its position in Emerson Electric Company (NYSE:EMR) by 1.8% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 28,935 shares of the industrial products company’s stock after selling 530 shares during the period. Fayez Sarofim & Co.’s holdings in Emerson Electric were worth $1,725,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Oppenheimer Asset Management Inc. acquired a new stake in shares of Emerson Electric during the first quarter worth $127,000. AT Bancorp acquired a new stake in shares of Emerson Electric during the second quarter worth $139,000. Harbour Capital Advisors LLC acquired a new stake in shares of Emerson Electric during the first quarter worth $147,000. Guardian Life Insurance Co. of America grew its stake in shares of Emerson Electric by 1.1% during 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 period. Finally, Perkins Coie Trust Co acquired a new stake in shares of Emerson Electric during the second quarter worth $150,000. 70.18% of the stock is owned by institutional investors.

A number of brokerages recently commented on EMR. Zacks Investment Research raised Emerson Electric from a “sell” rating to a “hold” rating in a research note on Tuesday, October 31st. Cowen and Company upgraded Emerson Electric to a “buy” rating and set a $71.00 target price on the stock in a report on Monday, October 23rd. Bank of America Corporation upgraded Emerson Electric from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $64.44 to $79.00 in a report on Tuesday, October 17th. Citigroup Inc. reiterated a “sell” rating and set a $61.00 target price (up from $58.00) on shares of Emerson Electric in a report on Monday, October 9th. Finally, Stifel Nicolaus reiterated a “buy” rating on shares of Emerson Electric in a report on Thursday, October 12th. 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 company presently has an average rating of “Hold” and an average target price of $65.14.

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In related news, insider Robert T. Sharp sold 2,000 shares of the company’s 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 sale, the insider now owns 64,290 shares in the company, valued at $3,792,467.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.79% of the company’s stock.

Shares of Emerson Electric Company (NYSE EMR) opened at $60.74 on Wednesday. Emerson Electric Company has a twelve month low of $53.92 and a twelve month high of $67.79. The stock has a market capitalization of $39,290.80, a PE ratio of 23.80, a P/E/G ratio of 2.80 and a beta of 1.24. The company has a current ratio of 1.64, a quick ratio of 1.30 and a debt-to-equity ratio of 0.43.

Emerson Electric (NYSE:EMR) last released its earnings results on Tuesday, November 7th. The industrial products company reported $0.83 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.83. Emerson Electric had a return on equity of 20.47% and a net margin of 9.94%. The business had revenue of $4.44 billion for the quarter, compared to analyst estimates of $4.43 billion. During the same quarter in the prior year, the company posted $0.74 earnings per share. Emerson Electric’s revenue was up 12.8% on a year-over-year basis. analysts expect that Emerson Electric Company will post 2.9 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Monday, December 11th. Investors of record on Friday, November 17th will be issued a dividend of $0.485 per share. This represents a $1.94 annualized dividend and a yield of 3.19%. The ex-dividend date is Thursday, November 16th. This is a positive change from Emerson Electric’s previous quarterly dividend of $0.48. Emerson Electric’s dividend payout ratio is presently 81.70%.

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.

Institutional Ownership by Quarter for Emerson Electric (NYSE:EMR)

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