Emerson Electric Co. (EMR) Shares Sold by M&T Bank Corp

M&T Bank Corp cut its stake in Emerson Electric Co. (NYSE:EMR) by 2.8% in the fourth quarter, HoldingsChannel.com reports. The fund owned 1,107,774 shares of the industrial products company’s stock after selling 31,394 shares during the period. M&T Bank Corp’s holdings in Emerson Electric were worth $66,190,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in EMR. Vanguard Group Inc lifted its holdings in Emerson Electric by 2.4% during the third quarter. Vanguard Group Inc now owns 51,601,229 shares of the industrial products company’s stock valued at $3,951,622,000 after purchasing an additional 1,214,362 shares in the last quarter. Capital World Investors lifted its holdings in shares of Emerson Electric by 7.0% in the third quarter. Capital World Investors now owns 15,250,142 shares of the industrial products company’s stock worth $1,167,856,000 after buying an additional 1,000,000 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Emerson Electric by 3,146,008.7% in the third quarter. Bank of New York Mellon Corp now owns 9,375,404 shares of the industrial products company’s stock worth $717,967,000 after buying an additional 9,375,106 shares in the last quarter. FMR LLC lifted its holdings in shares of Emerson Electric by 11.4% in the third quarter. FMR LLC now owns 3,822,068 shares of the industrial products company’s stock worth $292,693,000 after buying an additional 391,320 shares in the last quarter. Finally, Legal & General Group Plc lifted its holdings in shares of Emerson Electric by 4.7% in the third quarter. Legal & General Group Plc now owns 3,254,783 shares of the industrial products company’s stock worth $249,269,000 after buying an additional 145,296 shares in the last quarter. Hedge funds and other institutional investors own 71.14% of the company’s stock.

Several research firms have recently commented on EMR. Deutsche Bank set a $79.00 target price on shares of Emerson Electric and gave the stock a “buy” rating in a report on Wednesday, November 7th. Cowen restated a “buy” rating and issued a $81.00 price target on shares of Emerson Electric in a research report on Tuesday, November 6th. UBS Group set a $85.00 price target on shares of Emerson Electric and gave the stock a “buy” rating in a research report on Thursday, November 8th. William Blair restated a “market perform” rating on shares of Emerson Electric in a research report on Tuesday, November 6th. Finally, Berenberg Bank set a $67.00 price target on shares of Emerson Electric and gave the stock a “hold” rating in a research report on Monday, November 19th. Ten analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $76.28.

In other Emerson Electric news, insider Surendralal Lanca Karsanbhai sold 9,070 shares of the business’s stock in a transaction on Wednesday, November 28th. The shares were sold at an average price of $68.00, for a total transaction of $616,760.00. Following the transaction, the insider now owns 20,000 shares in the company, valued at $1,360,000. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.07% of the company’s stock.

Shares of EMR opened at $68.07 on Wednesday. Emerson Electric Co. has a fifty-two week low of $55.38 and a fifty-two week high of $79.70. The firm has a market capitalization of $41.13 billion, a P/E ratio of 20.14, a price-to-earnings-growth ratio of 2.10 and a beta of 1.20. The company has a current ratio of 0.88, a quick ratio of 0.62 and a debt-to-equity ratio of 0.32.

Emerson Electric (NYSE:EMR) last posted its quarterly earnings data on Tuesday, February 5th. The industrial products company reported $0.74 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.66 by $0.08. Emerson Electric had a net margin of 12.83% and a return on equity of 24.21%. The business had revenue of $4.15 billion for the quarter, compared to analysts’ expectations of $4.21 billion. During the same quarter in the previous year, the business posted $0.61 earnings per share. The business’s revenue was up 8.7% compared to the same quarter last year. As a group, analysts anticipate that Emerson Electric Co. will post 3.7 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 11th. Shareholders of record on Friday, February 15th will be given a dividend of $0.49 per share. This represents a $1.96 dividend on an annualized basis and a yield of 2.88%. The ex-dividend date is Thursday, February 14th. Emerson Electric’s dividend payout ratio (DPR) is 57.99%.

ILLEGAL ACTIVITY WARNING: This piece was originally published by Markets Daily and is the property of of Markets Daily. If you are viewing this piece on another publication, it was illegally copied and republished in violation of international copyright law. The legal version of this piece can be viewed at https://www.themarketsdaily.com/2019/02/13/emerson-electric-co-emr-shares-sold-by-mt-bank-corp.html.

About Emerson Electric

Emerson Electric Co, a technology and engineering company, provides various solutions to industrial, commercial, and consumer markets worldwide. The company's Automation Solutions segment offers products and integrated solutions, including measurement and analytical instrumentation; valves, actuators, and regulators; industrial solutions; and process control systems and solutions.

Further Reading: What are convertible shares? 

Want to see what other hedge funds are holding EMR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Emerson Electric Co. (NYSE:EMR).

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

Receive News & Ratings for Emerson Electric Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Emerson Electric and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply