Bank of Hawaii lowered its holdings in Emerson Electric Company (NYSE:EMR) by 54.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 35,596 shares of the industrial products company’s stock after selling 41,872 shares during the quarter. Bank of Hawaii’s holdings in Emerson Electric were worth $2,123,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also bought and sold shares of EMR. Oppenheimer Asset Management Inc. acquired a new position in Emerson Electric in the first quarter valued at about $127,000. AT Bancorp acquired a new position in Emerson Electric in the second quarter valued at about $139,000. Harbour Capital Advisors LLC acquired a new position in Emerson Electric in the first quarter valued at about $147,000. Guardian Life Insurance Co. of America boosted its position 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 valued at $149,000 after buying an additional 28 shares in the last quarter. Finally, Perkins Coie Trust Co acquired a new position in Emerson Electric in the second quarter valued at about $150,000. 69.35% of the stock is currently owned by institutional investors and hedge funds.
A number of research firms have commented on EMR. Stifel Nicolaus restated a “buy” rating on shares of Emerson Electric in a research report on Thursday, October 12th. Edward Jones lowered shares of Emerson Electric from a “buy” rating to a “hold” rating in a research report on Friday. Cowen and Company upgraded shares of Emerson Electric to a “buy” rating and set a $71.00 price target on the stock in a research report on Monday, October 23rd. Zacks Investment Research upgraded shares of Emerson Electric from a “sell” rating to a “hold” rating in a research report on Tuesday, October 31st. Finally, Citigroup Inc. reiterated a “sell” rating and set a $61.00 target price (up from $58.00) on shares of Emerson Electric in a research report on Monday, October 9th. Three analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and three have assigned a buy rating to the company. Emerson Electric presently has an average rating of “Hold” and a consensus target price of $65.14.
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 shares were 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 owns 64,290 shares of the company’s stock, valued at $3,792,467.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.79% of the stock is currently owned by corporate insiders.
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Shares of Emerson Electric Company (EMR) opened at $60.26 on Tuesday. Emerson Electric Company has a 12 month low of $53.92 and a 12 month high of $67.79. The company has a quick ratio of 1.30, a current ratio of 1.64 and a debt-to-equity ratio of 0.43. The company has a market cap of $38,570.00, a P/E ratio of 23.20, a price-to-earnings-growth ratio of 2.73 and a beta of 1.24.
Emerson Electric (NYSE:EMR) last issued its earnings results on Tuesday, November 7th. The industrial products company reported $0.83 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.83. Emerson Electric had a net margin of 9.94% and a return on equity of 20.47%. The firm had revenue of $4.44 billion during the quarter, compared to the consensus estimate of $4.43 billion. During the same quarter in the prior year, the firm earned $0.74 earnings per share. The business’s quarterly revenue was up 12.8% on a year-over-year basis. equities research analysts forecast that Emerson Electric Company will post 2.91 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, December 11th. Shareholders of record on Friday, November 17th will be paid a $0.485 dividend. This represents a $1.94 annualized dividend and a yield of 3.22%. The ex-dividend date of this dividend is Thursday, November 16th. This is an increase from Emerson Electric’s previous quarterly dividend of $0.48. Emerson Electric’s dividend payout ratio is presently 75.78%.
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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