HL Financial Services LLC reduced its stake in shares of Emerson Electric Co. (NYSE:EMR) by 7.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 335,069 shares of the company’s stock after selling 26,813 shares during the period. HL Financial Services LLC’s holdings in Emerson Electric were worth $17,477,000 at the end of the most recent quarter.
Several other hedge funds have also recently bought and sold shares of EMR. Bank of Montreal Can purchased a new stake in Emerson Electric during the second quarter valued at $43,563,000. AXA increased its stake in Emerson Electric by 46.5% in the first quarter. AXA now owns 1,584,042 shares of the company’s stock valued at $86,140,000 after buying an additional 502,533 shares in the last quarter. Sasco Capital Inc. CT increased 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 in the last quarter. Geode Capital Management LLC increased 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 in the last quarter. Finally, Hyman Charles D bought a new stake in Emerson Electric during the first quarter valued at approximately $12,240,000. 69.40% of the stock is owned by institutional investors and hedge funds.
Emerson Electric Co. (NYSE:EMR) traded down 1.67% during trading on Friday, hitting $51.92. 2,997,351 shares of the stock were exchanged. Emerson Electric Co. has a 12-month low of $41.25 and a 12-month high of $56.82. The firm has a market cap of $33.41 billion, a PE ratio of 18.39 and a beta of 1.23. The stock’s 50-day moving average price is $53.00 and its 200-day moving average price is $53.35.
Emerson Electric (NYSE:EMR) last released its quarterly earnings data 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 firm earned $5.10 billion during the quarter, compared to analyst estimates of $5.34 billion. On average, equities analysts expect that Emerson Electric Co. will post $2.93 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 9th. Shareholders of record on Friday, August 12th were paid a dividend of $0.475 per share. The ex-dividend date was Wednesday, August 10th. This represents a $1.90 annualized dividend and a yield of 3.66%. Emerson Electric’s payout ratio is 67.38%.
Several analysts have commented on the company. Stifel Nicolaus reduced their price objective on Emerson Electric from $60.00 to $58.00 and set a “buy” rating for the company in a research note on Wednesday, August 3rd. Barclays PLC reduced 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. Zacks Investment Research downgraded Emerson Electric from a “hold” rating to a “sell” rating in a research note on Monday, July 18th. Citigroup Inc. reduced their price objective on Emerson Electric from $49.00 to $48.00 and set a “sell” rating for the company in a research note on Wednesday, August 3rd. Finally, Morgan Stanley reaffirmed a “hold” rating and set a $50.00 price objective on shares of Emerson Electric in a research note on Monday, August 29th. Five equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and four have given a buy rating to the stock. Emerson Electric currently has a consensus rating of “Hold” and an average price target of $52.82.
About Emerson Electric
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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