Fiduciary Trust Co. trimmed its holdings in shares of Emerson Electric Company (NYSE:EMR) by 1.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 254,826 shares of the industrial products company’s stock after selling 2,791 shares during the quarter. Fiduciary Trust Co.’s holdings in Emerson Electric were worth $15,193,000 as of its most recent SEC filing.
A number of other hedge funds have also modified their holdings of the stock. Vanguard Group Inc. raised its holdings in shares of Emerson Electric by 5.8% during the first quarter. Vanguard Group Inc. now owns 43,698,252 shares of the industrial products company’s stock worth $2,615,777,000 after purchasing an additional 2,404,844 shares during the last quarter. Prudential Financial Inc. increased its holdings in Emerson Electric by 135.9% in the first quarter. Prudential Financial Inc. now owns 2,963,124 shares of the industrial products company’s stock valued at $177,372,000 after buying an additional 1,706,810 shares in the last quarter. Pictet Asset Management Ltd. increased its holdings in Emerson Electric by 217.1% in the second quarter. Pictet Asset Management Ltd. now owns 2,460,762 shares of the industrial products company’s stock valued at $145,480,000 after buying an additional 1,684,786 shares in the last quarter. Bank of Nova Scotia increased its stake in shares of Emerson Electric by 3,745.5% during the first quarter. Bank of Nova Scotia now owns 561,400 shares of the industrial products company’s stock worth $33,771,000 after purchasing an additional 546,801 shares in the last quarter. Finally, Longview Partners Guernsey LTD increased its stake in shares of Emerson Electric by 4.4% during the second quarter. Longview Partners Guernsey LTD now owns 12,624,050 shares of the industrial products company’s stock worth $752,646,000 after purchasing an additional 526,712 shares in the last quarter. 70.18% of the stock is currently owned by institutional investors.
Emerson Electric Company (NYSE:EMR) opened at $61.39 on Tuesday. The company has a current ratio of 1.64, a quick ratio of 1.30 and a debt-to-equity ratio of 0.43. The stock has a market cap of $39,431.61, a price-to-earnings ratio of 23.88, a PEG ratio of 2.81 and a beta of 1.24. Emerson Electric Company has a 1-year low of $53.92 and a 1-year high of $67.79.
Emerson Electric (NYSE:EMR) last issued its earnings results on Tuesday, November 7th. The industrial products company reported $0.83 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.83. The company had revenue of $4.44 billion for the quarter, compared to the consensus estimate of $4.43 billion. Emerson Electric had a return on equity of 20.47% and a net margin of 9.94%. The firm’s quarterly revenue was up 12.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.74 EPS. sell-side analysts expect that Emerson Electric Company will post 2.9 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, December 11th. Shareholders of record on Friday, November 17th will be given a dividend of $0.485 per share. The ex-dividend date is Thursday, November 16th. This represents a $1.94 dividend on an annualized basis and a yield of 3.16%. This is a boost from Emerson Electric’s previous quarterly dividend of $0.48. Emerson Electric’s dividend payout ratio is presently 81.70%.
In other news, insider Robert T. Sharp sold 2,000 shares of the 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 completion of the sale, the insider now directly owns 64,290 shares of the company’s stock, valued at $3,792,467.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.79% of the stock is owned by corporate insiders.
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Several equities analysts have weighed in on EMR shares. Cowen and Company upgraded shares of Emerson Electric to a “buy” rating and set a $71.00 target price on the stock in a report on Monday, October 23rd. Citigroup Inc. restated a “sell” rating and issued a $61.00 price objective (up from $58.00) on shares of Emerson Electric in a report on Monday, October 9th. Bank of America Corporation raised shares of Emerson Electric from a “neutral” rating to a “buy” rating and upped their target price for the stock from $64.44 to $79.00 in a research note on Tuesday, October 17th. Stifel Nicolaus reissued a “buy” rating and issued a $68.00 price objective on shares of Emerson Electric in a research report on Wednesday, July 19th. Finally, Zacks Investment Research cut shares of Emerson Electric from a “hold” rating to a “sell” rating in a report on Tuesday, October 17th. Three research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and four have issued a buy rating to the company. Emerson Electric currently has an average rating of “Hold” and an average price target of $65.14.
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.
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