Prio Wealth Limited Partnership trimmed its position in Emerson Electric Co. (NYSE:EMR) by 2.7% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 254,746 shares of the industrial products company’s stock after selling 7,175 shares during the period. Prio Wealth Limited Partnership’s holdings in Emerson Electric were worth $17,613,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently bought and sold shares of the stock. Pettyjohn Wood & White Inc. boosted its holdings in Emerson Electric by 22.2% in the 1st quarter. Pettyjohn Wood & White Inc. now owns 3,854 shares of the industrial products company’s stock worth $263,000 after buying an additional 700 shares during the last quarter. Cypress Capital Group boosted its holdings in Emerson Electric by 3.1% in the 1st quarter. Cypress Capital Group now owns 23,601 shares of the industrial products company’s stock worth $1,612,000 after buying an additional 715 shares during the last quarter. Courier Capital LLC boosted its holdings in shares of Emerson Electric by 3.3% during the 2nd quarter. Courier Capital LLC now owns 22,555 shares of the industrial products company’s stock worth $1,559,000 after purchasing an additional 718 shares during the last quarter. Fagan Associates Inc. boosted its holdings in shares of Emerson Electric by 9.7% during the 1st quarter. Fagan Associates Inc. now owns 8,200 shares of the industrial products company’s stock worth $560,000 after purchasing an additional 725 shares during the last quarter. Finally, Orca Investment Management LLC boosted its holdings in shares of Emerson Electric by 15.3% during the 2nd quarter. Orca Investment Management LLC now owns 5,502 shares of the industrial products company’s stock worth $380,000 after purchasing an additional 732 shares during the last quarter. Institutional investors own 69.80% of the company’s stock.
Several research analysts have recently weighed in on the company. ValuEngine upgraded Emerson Electric from a “hold” rating to a “buy” rating in a report on Monday, July 2nd. Barclays boosted their target price on Emerson Electric from $80.00 to $85.00 and gave the stock an “overweight” rating in a report on Thursday. JPMorgan Chase & Co. boosted their target price on Emerson Electric from $79.00 to $82.00 and gave the stock an “overweight” rating in a report on Friday. Stifel Nicolaus boosted their target price on Emerson Electric from $79.00 to $80.00 and gave the stock a “buy” rating in a report on Thursday, May 3rd. Finally, Zacks Investment Research cut Emerson Electric from a “buy” rating to a “hold” rating in a report on Friday, August 3rd. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $74.94.
EMR stock opened at $73.86 on Friday. The company has a market cap of $46.54 billion, a PE ratio of 24.28, a PEG ratio of 2.17 and a beta of 1.13. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.98 and a current ratio of 1.23. Emerson Electric Co. has a one year low of $57.47 and a one year high of $75.25.
Emerson Electric (NYSE:EMR) last released its quarterly earnings results on Tuesday, August 7th. The industrial products company reported $0.88 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.86 by $0.02. The firm had revenue of $4.46 billion for the quarter, compared to analyst estimates of $4.47 billion. Emerson Electric had a net margin of 12.33% and a return on equity of 22.83%. The business’s revenue for the quarter was up 10.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.68 EPS. analysts forecast that Emerson Electric Co. will post 3.22 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, September 10th. Stockholders of record on Friday, August 17th will be given a dividend of $0.485 per share. This represents a $1.94 annualized dividend and a dividend yield of 2.63%. The ex-dividend date of this dividend is Thursday, August 16th. Emerson Electric’s payout ratio is presently 73.48%.
In other news, insider Michael H. Train sold 24,166 shares of Emerson Electric stock in a transaction that occurred on Monday, June 18th. The shares were sold at an average price of $71.46, for a total transaction of $1,726,902.36. Following the sale, the insider now owns 121,626 shares of the company’s stock, valued at approximately $8,691,393.96. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.79% of the stock is currently owned by insiders.
Emerson Electric Company Profile
Emerson Electric Co, a technology and engineering company, provides various solutions to industrial, commercial, and residential markets worldwide. The company's Automation Solutions segment offers software; measurement and analytical instrumentation; valves, actuators, and regulators; industry services and solutions; process control systems and solutions; and digital plant solutions.
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