Emerson Electric Co. (EMR) Stake Cut by Ameriprise Financial Inc.
Ameriprise Financial Inc. cut its stake in Emerson Electric Co. (NYSE:EMR) by 3.5% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 401,596 shares of the company’s stock after selling 14,720 shares during the period. Ameriprise Financial Inc. owned about 0.06% of Emerson Electric worth $20,921,000 at the end of the most recent quarter.
Other hedge funds have also recently added to or reduced their stakes in the company. Los Angeles Capital Management & Equity Research Inc. boosted its stake in Emerson Electric by 229.1% in the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 115,946 shares of the company’s stock valued at $6,048,000 after buying an additional 80,720 shares during the last quarter. Athena Global Investors LLC purchased a new stake in Emerson Electric during the second quarter valued at approximately $1,247,000. Ropes Wealth Advisors LLC boosted its stake in Emerson Electric by 27.4% in the second quarter. Ropes Wealth Advisors LLC now owns 18,076 shares of the company’s stock valued at $943,000 after buying an additional 3,885 shares during the last quarter. Zevin Asset Management LLC boosted its stake in Emerson Electric by 6.8% in the second quarter. Zevin Asset Management LLC now owns 28,363 shares of the company’s stock valued at $1,479,000 after buying an additional 1,815 shares during the last quarter. Finally, Feltz Wealth PLAN Inc. purchased a new stake in Emerson Electric during the second quarter valued at approximately $1,402,000. 69.36% of the stock is owned by hedge funds and other institutional investors.
Shares of Emerson Electric Co. (NYSE:EMR) traded down 0.95% during midday trading on Friday, hitting $51.09. 3,873,793 shares of the company were exchanged. Emerson Electric Co. has a one year low of $41.25 and a one year high of $56.82. The stock has a market cap of $32.88 billion, a PE ratio of 18.09 and a beta of 1.23. The stock’s 50-day moving average is $53.74 and its 200-day moving average is $53.32.
Emerson Electric (NYSE:EMR) last announced its quarterly earnings results on Tuesday, August 2nd. The company reported $0.80 EPS for the quarter, missing the Thomson Reuters’ 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 analyst estimates of $5.34 billion. Equities research analysts anticipate that Emerson Electric Co. will post $2.93 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 9th. Investors of record on Friday, August 12th were issued a dividend of $0.475 per share. This represents a $1.90 annualized dividend and a dividend yield of 3.72%. The ex-dividend date of this dividend was Wednesday, August 10th. Emerson Electric’s dividend payout ratio is currently 67.38%.
Several brokerages have recently issued reports on EMR. Deutsche Bank AG reissued a “hold” rating on shares of Emerson Electric in a research note on Thursday. Morgan Stanley reissued a “hold” rating and set a $50.00 price objective on shares of Emerson Electric in a research note on Monday, August 29th. Buckingham Research cut shares of Emerson Electric from a “neutral” rating to an “underperform” rating and lowered their price objective for the company from $49.00 to $44.00 in a research note on Friday, August 19th. Credit Suisse Group AG cut shares of Emerson Electric from an “outperform” rating to a “neutral” rating and set a $57.00 price objective for the company. in a research note on Friday, August 19th. They noted that the move was a valuation call. Finally, JPMorgan Chase & Co. began coverage on shares of Emerson Electric in a research note on Monday, August 8th. They set a “neutral” rating and a $47.00 price objective for the company. Five equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and four have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $52.82.
Emerson Electric Company Profile
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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