Willis Investment Counsel reduced its stake in shares of Emerson Electric Co. (NYSE:EMR) by 2.5% during the fourth quarter, Holdings Channel reports. The institutional investor owned 216,700 shares of the company’s stock after selling 5,600 shares during the period. Willis Investment Counsel’s holdings in Emerson Electric were worth $12,081,000 as of its most recent filing with the SEC.
Several other large investors also recently bought and sold shares of EMR. Capital World Investors boosted its stake in Emerson Electric by 35.8% in the third quarter. Capital World Investors now owns 12,900,000 shares of the company’s stock valued at $703,179,000 after buying an additional 3,400,000 shares during the period. Ameriprise Financial Inc. boosted its stake in Emerson Electric by 677.8% in the third quarter. Ameriprise Financial Inc. now owns 3,123,625 shares of the company’s stock valued at $170,256,000 after buying an additional 2,722,029 shares during the period. Renaissance Technologies LLC acquired a new stake in Emerson Electric during the fourth quarter valued at about $88,748,000. Adage Capital Partners GP L.L.C. boosted its stake in Emerson Electric by 668.6% in the third quarter. Adage Capital Partners GP L.L.C. now owns 1,724,244 shares of the company’s stock valued at $93,989,000 after buying an additional 1,499,922 shares during the period. Finally, State Street Corp boosted its stake in Emerson Electric by 3.4% in the fourth quarter. State Street Corp now owns 32,271,263 shares of the company’s stock valued at $1,799,131,000 after buying an additional 1,049,578 shares during the period. 71.04% of the stock is owned by hedge funds and other institutional investors.
Emerson Electric Co. (NYSE:EMR) opened at 58.43 on Tuesday. The company has a 50-day moving average price of $60.81 and a 200-day moving average price of $56.05. The stock has a market capitalization of $37.69 billion, a price-to-earnings ratio of 23.70 and a beta of 1.17. Emerson Electric Co. has a 12-month low of $48.45 and a 12-month high of $64.36.
Emerson Electric (NYSE:EMR) last issued its quarterly earnings results on Tuesday, February 7th. The company reported $0.49 earnings per share for the quarter, topping analysts’ consensus estimates of $0.42 by $0.07. Emerson Electric had a return on equity of 24.26% and a net margin of 8.50%. The company had revenue of $3.20 billion for the quarter, compared to analyst estimates of $3.17 billion. During the same quarter in the prior year, the company posted $0.56 EPS. The business’s revenue for the quarter was down 3.6% compared to the same quarter last year. On average, equities research analysts forecast that Emerson Electric Co. will post $2.57 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, March 10th. Shareholders of record on Friday, February 17th were paid a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 3.29%. The ex-dividend date of this dividend was Wednesday, February 15th. Emerson Electric’s dividend payout ratio is presently 77.73%.
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Several equities research analysts have issued reports on the company. Zacks Investment Research raised Emerson Electric from a “hold” rating to a “buy” rating and set a $71.00 target price for the company in a research note on Tuesday, February 14th. Wells Fargo & Co reissued a “market perform” rating on shares of Emerson Electric in a research note on Wednesday, February 8th. Barclays PLC raised their target price on Emerson Electric from $56.00 to $63.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 8th. Royal Bank of Canada reissued a “hold” rating and set a $55.00 target price on shares of Emerson Electric in a research note on Wednesday, February 8th. Finally, Stifel Nicolaus raised their target price on Emerson Electric from $63.00 to $70.00 and gave the stock a “buy” rating in a research note on Thursday, February 9th. Four equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and three have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $55.57.
In other Emerson Electric news, VP Steven J. Pelch sold 7,839 shares of the stock in a transaction on Friday, February 10th. The stock was sold at an average price of $63.31, for a total transaction of $496,287.09. Following the transaction, the vice president now owns 72,647 shares of the company’s stock, valued at approximately $4,599,281.57. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.79% of the company’s stock.
Emerson Electric Company Profile
Emerson Electric Co is a diversified global manufacturing company, which provides solutions to customers by bringing technology and engineering together in the industrial, commercial and consumer markets around the world. The Company operates through four segments based on the nature of the products and services rendered: Process Management, Industrial Automation, Climate Technologies and Commercial & Residential Solutions.
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