Metropolitan Life Insurance Co. NY trimmed its holdings in shares of Emerson Electric Company (NYSE:EMR) by 1.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 323,604 shares of the industrial products company’s stock after selling 3,784 shares during the quarter. Metropolitan Life Insurance Co. NY owned approximately 0.05% of Emerson Electric worth $19,371,000 as of its most recent SEC filing.
Other hedge funds have also modified their holdings of the company. Central Bank & Trust Co. grew its holdings in Emerson Electric by 31.3% in the first quarter. Central Bank & Trust Co. now owns 2,100 shares of the industrial products company’s stock worth $126,000 after purchasing an additional 500 shares during the last quarter. Oppenheimer Asset Management Inc. purchased a new position in Emerson Electric in the first quarter worth $127,000. Guardian Life Insurance Co. of America grew its holdings 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. Milestone Group Inc. purchased a new position in Emerson Electric in the first quarter worth $201,000. Finally, Wedgewood Investors Inc. PA purchased a new position in Emerson Electric in the first quarter worth $204,000. 70.19% of the stock is currently owned by institutional investors.
Several equities analysts have issued reports on EMR shares. Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $62.00 price target (up from $61.00) on shares of Emerson Electric in a report on Wednesday, August 2nd. Berenberg Bank reiterated a “sell” rating and set a $53.00 price objective on shares of Emerson Electric in a research note on Friday, August 11th. JMP Securities initiated coverage on shares of Emerson Electric in a research note on Monday, June 19th. They set an “outperform” rating and a $70.00 price objective for the company. Morgan Stanley reiterated an “overweight” rating on shares of Emerson Electric in a research note on Tuesday, July 11th. Finally, BidaskClub downgraded shares of Emerson Electric from a “sell” rating to a “strong sell” rating in a research note on Friday, August 18th. Three equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and three have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $60.52.
In other Emerson Electric news, insider Robert T. Sharp sold 2,000 shares of the company’s stock in a transaction that occurred on 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 sale, the insider now owns 64,290 shares of the company’s stock, valued at $3,792,467.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.79% of the stock is owned by corporate insiders.
Emerson Electric Company (EMR) traded up 0.74% on Friday, reaching $62.35. 4,441,677 shares of the company’s stock were exchanged. Emerson Electric Company has a 1-year low of $49.22 and a 1-year high of $64.36. The firm has a 50-day moving average price of $59.65 and a 200-day moving average price of $59.54. The company has a market capitalization of $39.91 billion, a P/E ratio of 27.82 and a beta of 1.18.
Emerson Electric (NYSE:EMR) last released its quarterly earnings data on Tuesday, August 1st. The industrial products company reported $0.68 EPS for the quarter, hitting analysts’ consensus estimates of $0.68. The firm had revenue of $4.04 billion for the quarter, compared to the consensus estimate of $3.99 billion. Emerson Electric had a return on equity of 22.32% and a net margin of 8.89%. The firm’s revenue was up 9.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.68 earnings per share. Equities research analysts expect that Emerson Electric Company will post $2.61 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Monday, September 11th. Shareholders of record on Friday, August 11th were given a dividend of $0.48 per share. The ex-dividend date was Wednesday, August 9th. This represents a $1.92 dividend on an annualized basis and a yield of 3.08%. Emerson Electric’s payout ratio is currently 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.
Receive News & Ratings for Emerson Electric Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Emerson Electric Company and related companies with MarketBeat.com's FREE daily email newsletter.