Fmr LLC lessened its stake in Emerson Electric Co. (NYSE:EMR) by 12.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,569,678 shares of the industrial products company’s stock after selling 360,493 shares during the quarter. Fmr LLC owned approximately 0.43% of Emerson Electric worth $247,305,000 at the end of the most recent quarter.
A number of other hedge funds have also modified their holdings of the business. Seven Eight Capital LP bought a new stake in Emerson Electric during the 2nd quarter valued at $568,000. Public Sector Pension Investment Board raised its holdings in Emerson Electric by 65.9% during the 2nd quarter. Public Sector Pension Investment Board now owns 94,006 shares of the industrial products company’s stock valued at $9,047,000 after acquiring an additional 37,350 shares during the period. Capital Planning Advisors LLC bought a new stake in Emerson Electric during the 2nd quarter valued at $1,993,000. ProShare Advisors LLC raised its holdings in Emerson Electric by 6.0% during the 2nd quarter. ProShare Advisors LLC now owns 1,509,990 shares of the industrial products company’s stock valued at $145,321,000 after acquiring an additional 86,118 shares during the period. Finally, Alaethes Wealth LLC raised its holdings in Emerson Electric by 5.9% during the 2nd quarter. Alaethes Wealth LLC now owns 11,858 shares of the industrial products company’s stock valued at $1,141,000 after acquiring an additional 661 shares during the period. 72.67% of the stock is currently owned by institutional investors and hedge funds.
EMR has been the subject of a number of recent analyst reports. Cowen restated a “buy” rating on shares of Emerson Electric in a research report on Tuesday, August 31st. Barclays boosted their price target on shares of Emerson Electric from $91.00 to $94.00 and gave the company an “equal weight” rating in a research report on Thursday, July 8th. Morgan Stanley reduced their price target on shares of Emerson Electric from $106.00 to $102.00 and set an “equal weight” rating for the company in a research report on Thursday, October 7th. Credit Suisse Group boosted their price target on shares of Emerson Electric from $103.00 to $108.00 and gave the company an “outperform” rating in a research report on Thursday, August 5th. Finally, Wells Fargo & Company began coverage on shares of Emerson Electric in a research report on Thursday, October 7th. They set an “equal weight” rating and a $99.00 price target for the company. Three research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, Emerson Electric currently has a consensus rating of “Buy” and a consensus price target of $99.57.
Emerson Electric (NYSE:EMR) last posted its quarterly earnings results on Wednesday, August 4th. The industrial products company reported $1.09 earnings per share for the quarter, topping the consensus estimate of $0.98 by $0.11. The business had revenue of $4.70 billion during the quarter, compared to the consensus estimate of $4.58 billion. Emerson Electric had a net margin of 13.20% and a return on equity of 26.77%. The firm’s revenue for the quarter was up 20.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.80 earnings per share. On average, sell-side analysts forecast that Emerson Electric Co. will post 4.08 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 10th. Shareholders of record on Friday, August 13th were paid a $0.505 dividend. This represents a $2.02 annualized dividend and a yield of 2.20%. The ex-dividend date was Thursday, August 12th. Emerson Electric’s dividend payout ratio is presently 58.38%.
In other Emerson Electric news, VP Bell Katherine Button sold 12,850 shares of the business’s stock in a transaction on Tuesday, August 10th. The shares were sold at an average price of $101.21, for a total value of $1,300,548.50. Following the completion of the sale, the vice president now directly owns 27,659 shares of the company’s stock, valued at $2,799,367.39. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.50% of the company’s stock.
Emerson Electric Profile
Emerson Electric Co is a global technology and engineering company, which provides innovative solutions for customers in industrial, commercial and residential markets. It operates through the following business segments: Automation Solutions; Climate Technologies; and Tools and Home Products. The Automation Solutions segment offers products, integrated solutions, software and services which enable process, hybrid and discrete manufacturers to maximize production, protect personnel and the environment, reduce project costs, and optimize their energy efficiency and operating costs.
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