Pflug Koory LLC lowered its holdings in Emerson Electric Co. (NYSE:EMR) by 2.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 11,820 shares of the industrial products company’s stock after selling 300 shares during the quarter. Pflug Koory LLC’s holdings in Emerson Electric were worth $789,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Middleton & Co Inc MA bought a new stake in Emerson Electric during the first quarter worth about $214,000. Delta Asset Management LLC TN grew its stake in Emerson Electric by 0.5% during the second quarter. Delta Asset Management LLC TN now owns 114,619 shares of the industrial products company’s stock worth $7,647,000 after buying an additional 598 shares during the last quarter. DNB Asset Management AS grew its stake in Emerson Electric by 4.3% during the second quarter. DNB Asset Management AS now owns 127,098 shares of the industrial products company’s stock worth $8,480,000 after buying an additional 5,283 shares during the last quarter. Fox Run Management L.L.C. bought a new stake in Emerson Electric during the second quarter worth about $234,000. Finally, Sawtooth Solutions LLC grew its stake in Emerson Electric by 34.7% during the first quarter. Sawtooth Solutions LLC now owns 7,923 shares of the industrial products company’s stock worth $542,000 after buying an additional 2,041 shares during the last quarter. 70.30% of the stock is currently owned by institutional investors and hedge funds.
In related news, insider Michael H. Train sold 12,278 shares of the stock in a transaction that occurred on Tuesday, June 11th. The shares were sold at an average price of $63.80, for a total value of $783,336.40. Following the transaction, the insider now directly owns 129,298 shares in the company, valued at $8,249,212.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Bell Katherine Button sold 7,794 shares of the stock in a transaction that occurred on Tuesday, June 18th. The shares were sold at an average price of $64.17, for a total transaction of $500,140.98. Following the completion of the transaction, the vice president now owns 22,510 shares in the company, valued at $1,444,466.70. The disclosure for this sale can be found here. Insiders sold 40,333 shares of company stock worth $2,583,230 over the last 90 days. 0.07% of the stock is currently owned by company insiders.
Several brokerages have weighed in on EMR. Cowen reaffirmed a “buy” rating and set a $72.00 price objective on shares of Emerson Electric in a research note on Friday, August 9th. Zacks Investment Research cut shares of Emerson Electric from a “hold” rating to a “sell” rating and set a $69.00 price objective on the stock. in a research note on Tuesday, July 23rd. Deutsche Bank decreased their price objective on shares of Emerson Electric from $74.00 to $73.00 and set a “buy” rating on the stock in a research note on Monday, August 5th. Credit Suisse Group decreased their price objective on shares of Emerson Electric from $74.00 to $70.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 7th. Finally, Argus cut shares of Emerson Electric from a “buy” rating to a “hold” rating in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $72.71.
Shares of EMR traded up $1.48 during mid-day trading on Friday, hitting $57.89. 1,673,609 shares of the company traded hands, compared to its average volume of 3,278,830. Emerson Electric Co. has a one year low of $55.38 and a one year high of $79.70. The company has a current ratio of 1.18, a quick ratio of 0.85 and a debt-to-equity ratio of 0.49. The business has a 50-day moving average of $64.06 and a 200 day moving average of $66.45. The stock has a market capitalization of $36.41 billion, a price-to-earnings ratio of 17.13, a PEG ratio of 1.99 and a beta of 1.32.
Emerson Electric (NYSE:EMR) last released its quarterly earnings results on Tuesday, August 6th. The industrial products company reported $0.94 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.94. Emerson Electric had a net margin of 12.06% and a return on equity of 24.67%. The business had revenue of $4.68 billion for the quarter, compared to analysts’ expectations of $4.82 billion. During the same period in the prior year, the firm earned $1.12 earnings per share. Emerson Electric’s revenue was up 5.1% compared to the same quarter last year. As a group, analysts anticipate that Emerson Electric Co. will post 3.64 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Friday, August 16th will be issued a $0.49 dividend. The ex-dividend date is Thursday, August 15th. This represents a $1.96 annualized dividend and a yield of 3.39%. Emerson Electric’s dividend payout ratio is currently 57.99%.
Emerson Electric Company Profile
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.
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