First National Trust Co. reduced its stake in shares of Emerson Electric Co. (NYSE:EMR) by 5.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 63,263 shares of the company’s stock after selling 3,703 shares during the period. First National Trust Co.’s holdings in Emerson Electric were worth $3,300,000 as of its most recent filing with the SEC.
Other institutional investors have also modified their holdings of the company. BlackRock Fund Advisors boosted its stake in Emerson Electric by 1.4% in the first quarter. BlackRock Fund Advisors now owns 11,329,238 shares of the company’s stock valued at $616,084,000 after buying an additional 155,560 shares during the period. Geode Capital Management LLC boosted its stake in Emerson Electric by 4.4% in the first quarter. Geode Capital Management LLC now owns 5,526,822 shares of the company’s stock valued at $299,972,000 after buying an additional 233,873 shares during the period. Legal & General Group Plc boosted its stake in Emerson Electric by 4.0% in the first quarter. Legal & General Group Plc now owns 3,131,579 shares of the company’s stock valued at $170,297,000 after buying an additional 120,455 shares during the period. Sasco Capital Inc. CT boosted its stake in Emerson Electric by 22.4% in the first quarter. Sasco Capital Inc. CT now owns 2,469,653 shares of the company’s stock valued at $134,300,000 after buying an additional 452,303 shares during the period. Finally, American Century Companies Inc. boosted its stake in Emerson Electric by 1.0% in the second quarter. American Century Companies Inc. now owns 2,357,057 shares of the company’s stock valued at $122,944,000 after buying an additional 24,114 shares during the period. Hedge funds and other institutional investors own 69.40% of the company’s stock.
Emerson Electric Co. (NYSE:EMR) traded down 0.84% during mid-day trading on Tuesday, reaching $53.35. The company’s stock had a trading volume of 3,447,189 shares. The company has a market cap of $34.33 billion, a price-to-earnings ratio of 18.89 and a beta of 1.19. The firm has a 50 day moving average price of $52.77 and a 200 day moving average price of $53.43. Emerson Electric Co. has a 52-week low of $41.25 and a 52-week high of $56.82.
Emerson Electric (NYSE:EMR) last issued its quarterly earnings results on Tuesday, August 2nd. The company reported $0.80 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.84 by $0.04. Emerson Electric had a return on equity of 24.63% and a net margin of 8.96%. The business had revenue of $5.10 billion for the quarter, compared to analyst estimates of $5.34 billion. Equities research analysts anticipate that Emerson Electric Co. will post $2.92 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 9th. Stockholders of record on Friday, August 12th were paid a $0.475 dividend. The ex-dividend date of this dividend was Wednesday, August 10th. This represents a $1.90 annualized dividend and a dividend yield of 3.56%. Emerson Electric’s dividend payout ratio is presently 67.38%.
Several equities research analysts have recently commented on the company. Bank of America Corp. reissued a “sell” rating on shares of Emerson Electric in a research note on Wednesday, June 22nd. Barclays PLC decreased their price objective on Emerson Electric from $55.00 to $53.00 and set an “equal weight” rating for the company in a research note on Wednesday, August 3rd. JPMorgan Chase & Co. began coverage on Emerson Electric in a research note on Monday, August 8th. They set a “neutral” rating and a $47.00 price objective for the company. Credit Suisse Group AG reaffirmed a “buy” rating on shares of Emerson Electric in a research note on Sunday, July 10th. Finally, Zacks Investment Research cut Emerson Electric from a “hold” rating to a “sell” rating in a research note on Monday, July 18th. Seven investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and four have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $51.91.
Emerson Electric Company Profile
Emerson Electric Co is engaged in offering technology and engineering together that provides solutions for customers in industrial, commercial, and consumer markets around the world. The company operates through five business segments: Process Management, Industrial Automation, Network Power, Climate Technologies, and Commercial & Residential Solutions.
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