Verity Asset Management Inc. trimmed its holdings in Emerson Electric Company (NYSE:EMR) by 24.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,355 shares of the industrial products company’s stock after selling 1,775 shares during the period. Verity Asset Management Inc.’s holdings in Emerson Electric were worth $339,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors have also bought and sold shares of the business. Vanguard Group Inc. grew its stake in Emerson Electric by 1.1% in the second quarter. Vanguard Group Inc. now owns 44,195,877 shares of the industrial products company’s stock valued at $2,634,958,000 after acquiring an additional 497,625 shares during the period. BlackRock Inc. grew its stake in Emerson Electric by 1.9% in the second quarter. BlackRock Inc. now owns 40,954,867 shares of the industrial products company’s stock valued at $2,441,728,000 after acquiring an additional 778,791 shares during the period. Longview Partners Guernsey LTD grew its stake in Emerson Electric by 9.0% in the third quarter. Longview Partners Guernsey LTD now owns 13,758,325 shares of the industrial products company’s stock valued at $864,573,000 after acquiring an additional 1,134,275 shares during the period. Bank of New York Mellon Corp boosted its position in shares of Emerson Electric by 4.7% during the third quarter. Bank of New York Mellon Corp now owns 13,355,963 shares of the industrial products company’s stock worth $839,288,000 after buying an additional 597,993 shares during the period. Finally, Capital World Investors boosted its position in shares of Emerson Electric by 4.6% during the second quarter. Capital World Investors now owns 11,450,000 shares of the industrial products company’s stock worth $682,649,000 after buying an additional 500,000 shares during the period. 69.16% of the stock is owned by hedge funds and other institutional investors.
Emerson Electric Company (NYSE:EMR) opened at $71.49 on Friday. Emerson Electric Company has a 52-week low of $55.40 and a 52-week high of $71.81. The company has a current ratio of 1.64, a quick ratio of 1.30 and a debt-to-equity ratio of 0.43. The company has a market capitalization of $45,880.00, a P/E ratio of 27.93, a P/E/G ratio of 3.18 and a beta of 1.24.
Emerson Electric (NYSE:EMR) last issued its quarterly earnings results on Tuesday, November 7th. The industrial products company reported $0.83 EPS for the quarter, meeting the consensus estimate of $0.83. Emerson Electric had a return on equity of 20.47% and a net margin of 9.94%. The firm had revenue of $4.44 billion during the quarter, compared to analysts’ expectations of $4.43 billion. During the same period in the prior year, the firm posted $0.74 earnings per share. The business’s quarterly revenue was up 12.8% compared to the same quarter last year. equities analysts predict that Emerson Electric Company will post 2.92 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 11th. Shareholders of record on Friday, November 17th were paid a $0.485 dividend. This is a positive change from Emerson Electric’s previous quarterly dividend of $0.48. The ex-dividend date of this dividend was Thursday, November 16th. This represents a $1.94 annualized dividend and a yield of 2.71%. Emerson Electric’s dividend payout ratio is currently 75.78%.
Several research analysts have recently weighed in on the company. Stifel Nicolaus reaffirmed a “buy” rating on shares of Emerson Electric in a research report on Thursday, October 12th. Edward Jones cut Emerson Electric from a “buy” rating to a “hold” rating in a research report on Friday, November 17th. Cowen raised Emerson Electric to a “buy” rating and set a $71.00 price objective for the company in a research report on Monday, October 23rd. Zacks Investment Research raised Emerson Electric from a “sell” rating to a “hold” rating in a research report on Tuesday, October 31st. Finally, Citigroup set a $61.00 price objective on Emerson Electric and gave the stock a “sell” rating in a research report on Tuesday, November 28th. Three research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $65.86.
In other Emerson Electric news, VP Bell Katherine Button sold 7,909 shares of the company’s stock in a transaction that occurred on Thursday, November 30th. The stock was sold at an average price of $64.78, for a total value of $512,345.02. Following the sale, the vice president now owns 44,628 shares in the company, valued at $2,891,001.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO Edgar M. Purvis, Jr. sold 9,490 shares of the company’s stock in a transaction that occurred on Friday, December 8th. The shares were sold at an average price of $65.74, for a total value of $623,872.60. Following the completion of the sale, the chief operating officer now owns 168,984 shares in the company, valued at approximately $11,109,008.16. The disclosure for this sale can be found here. Insiders sold 27,017 shares of company stock worth $1,771,129 in the last 90 days. Corporate insiders own 0.79% of the company’s stock.
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Emerson Electric 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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