State Street Corp lowered its position in shares of Emerson Electric Company (NYSE:EMR) by 3.3% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 30,598,036 shares of the industrial products company’s stock after selling 1,057,628 shares during the period. State Street Corp owned 4.78% of Emerson Electric worth $1,824,259,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Washington Trust Bank raised its position in Emerson Electric by 0.4% during the 2nd quarter. Washington Trust Bank now owns 4,040 shares of the industrial products company’s stock worth $241,000 after purchasing an additional 16 shares during the last quarter. RB Capital Management LLC raised its position in Emerson Electric by 0.6% during the 2nd quarter. RB Capital Management LLC now owns 4,475 shares of the industrial products company’s stock worth $267,000 after purchasing an additional 26 shares during the last quarter. Parallel Advisors LLC raised its position in Emerson Electric by 0.5% during the 2nd quarter. Parallel Advisors LLC now owns 4,892 shares of the industrial products company’s stock worth $292,000 after purchasing an additional 26 shares during the last quarter. Guardian Life Insurance Co. of America raised its position in Emerson Electric by 1.1% during the 1st quarter. Guardian Life Insurance Co. of America now owns 2,491 shares of the industrial products company’s stock worth $149,000 after purchasing an additional 28 shares during the last quarter. Finally, Busey Trust CO raised its position in Emerson Electric by 0.5% during the 2nd quarter. Busey Trust CO now owns 6,834 shares of the industrial products company’s stock worth $407,000 after purchasing an additional 31 shares during the last quarter. Institutional investors own 69.35% of the company’s stock.
Emerson Electric Company (NYSE:EMR) opened at $61.63 on Monday. The firm has a market cap of $39,555.37, a price-to-earnings ratio of 23.89, a PEG ratio of 2.90 and a beta of 1.24. Emerson Electric Company has a 1-year low of $53.92 and a 1-year high of $67.79. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.64 and a quick ratio of 1.30.
Emerson Electric (NYSE:EMR) last announced its earnings results on Tuesday, November 7th. The industrial products company reported $0.83 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.83. Emerson Electric had a net margin of 9.94% and a return on equity of 20.47%. The company had revenue of $4.44 billion during the quarter, compared to analyst estimates of $4.43 billion. During the same period in the previous year, the business earned $0.74 earnings per share. The firm’s quarterly revenue was up 12.8% compared to the same quarter last year. research analysts expect that Emerson Electric Company will post 2.91 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, December 11th. Investors of record on Friday, November 17th will be given a $0.485 dividend. The ex-dividend date is Thursday, November 16th. This is a positive change from Emerson Electric’s previous quarterly dividend of $0.48. This represents a $1.94 annualized dividend and a yield of 3.15%. Emerson Electric’s payout ratio is 82.55%.
In other Emerson Electric news, insider Robert T. Sharp sold 2,000 shares of the company’s stock in a transaction dated Thursday, August 31st. The shares were sold at an average price of $58.99, for a total transaction of $117,980.00. Following the completion of the sale, the insider now directly owns 64,290 shares in the company, valued at $3,792,467.10. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 0.79% of the stock is currently owned by insiders.
Several research analysts recently issued reports on EMR shares. Cowen Inc raised Emerson Electric from a “market perform” rating to an “outperform” rating in a research report on Tuesday, October 17th. Zacks Investment Research lowered Emerson Electric from a “hold” rating to a “sell” rating in a research report on Tuesday, October 17th. Robert W. Baird reissued a “hold” rating and issued a $70.00 price objective on shares of Emerson Electric in a research report on Friday, November 10th. Royal Bank Of Canada reissued a “sector perform” rating and issued a $62.00 price objective (up from $61.00) on shares of Emerson Electric in a research report on Wednesday, August 2nd. Finally, Stifel Nicolaus reaffirmed a “buy” rating and issued a $72.00 target price (up from $68.00) on shares of Emerson Electric in a research report on Thursday, November 9th. Three research analysts have rated the stock with a sell rating, thirteen have given a hold rating and three have given a buy rating to the company’s stock. Emerson Electric currently has a consensus rating of “Hold” and a consensus price target of $65.14.
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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