Whittier Trust Co. lowered its stake in Emerson Electric Co. (NYSE:EMR) by 6.5% during the second quarter, Holdings Channel reports. The fund owned 230,248 shares of the company’s stock after selling 15,977 shares during the period. Whittier Trust Co.’s holdings in Emerson Electric were worth $12,007,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also modified their holdings of EMR. Bank of Montreal Can acquired a new position in shares of Emerson Electric during the second quarter valued at approximately $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 worth $86,140,000 after buying an additional 502,533 shares during 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 worth $134,300,000 after buying an additional 452,303 shares during the last quarter. Seminole Management Co. Inc. purchased a new stake in Emerson Electric during the second quarter worth $20,838,000. Finally, 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 worth $299,972,000 after buying an additional 233,873 shares during the last quarter. 69.40% of the stock is owned by institutional investors.
Emerson Electric Co. (NYSE:EMR) traded down 1.29% during midday trading on Friday, hitting $52.70. The stock had a trading volume of 4,000,562 shares. Emerson Electric Co. has a 52-week low of $41.25 and a 52-week high of $56.82. The company’s 50 day moving average price is $52.70 and its 200-day moving average price is $53.43. The stock has a market cap of $33.91 billion, a PE ratio of 18.66 and a beta of 1.19.
Emerson Electric (NYSE:EMR) last issued its quarterly earnings results on Tuesday, August 2nd. The company reported $0.80 earnings per share (EPS) 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 the consensus estimate of $5.34 billion. Analysts forecast that Emerson Electric Co. will post $2.92 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 9th. Investors of record on Friday, August 12th were paid a dividend of $0.475 per share. This represents a $1.90 dividend on an annualized basis and a dividend yield of 3.61%. The ex-dividend date was Wednesday, August 10th. Emerson Electric’s dividend payout ratio is currently 67.38%.
A number of analysts recently weighed in on EMR shares. Credit Suisse Group AG downgraded Emerson Electric from an “outperform” rating to a “neutral” rating and set a $57.00 target price for the company. in a research report on Friday, August 19th. They noted that the move was a valuation call. Vetr downgraded Emerson Electric from a “sell” rating to a “strong sell” rating and set a $47.31 target price for the company. in a research report on Monday. Sanford C. Bernstein restated a “market perform” rating on shares of Emerson Electric in a research report on Monday, June 27th. JPMorgan Chase & Co. restated a “neutral” rating on shares of Emerson Electric in a research report on Monday, September 26th. Finally, Morgan Stanley restated a “hold” rating and issued a $50.00 target price on shares of Emerson Electric in a research report on Monday, August 29th. Eight research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and four have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $51.91.
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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