Fayez Sarofim & Co. Sells 225 Shares of Emerson Electric Company (EMR)
Fayez Sarofim & Co. lowered its position in Emerson Electric Company (NYSE:EMR) by 0.8% during the third quarter, Holdings Channel reports. The fund owned 26,465 shares of the company’s stock after selling 225 shares during the period. Fayez Sarofim & Co.’s holdings in Emerson Electric Company were worth $1,442,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of the company. D.A. Davidson & CO. boosted its position in Emerson Electric Company by 10.5% in the third quarter. D.A. Davidson & CO. now owns 452,528 shares of the company’s stock worth $24,665,000 after buying an additional 42,944 shares during the last quarter. Piedmont Investment Advisors LLC bought a new position in Emerson Electric Company during the third quarter worth $7,190,000. Garde Capital Inc. bought a new position in Emerson Electric Company during the third quarter worth $543,000. Mosaic Family Wealth LLC boosted its position in Emerson Electric Company by 20.5% in the third quarter. Mosaic Family Wealth LLC now owns 24,111 shares of the company’s stock worth $1,314,000 after buying an additional 4,104 shares during the last quarter. Finally, Schafer Cullen Capital Management Inc. boosted its position in Emerson Electric Company by 15.4% in the third quarter. Schafer Cullen Capital Management Inc. now owns 121,455 shares of the company’s stock worth $6,621,000 after buying an additional 16,207 shares during the last quarter. 71.04% of the stock is owned by hedge funds and other institutional investors.
Shares of Emerson Electric Company (NYSE:EMR) opened at 62.90 on Friday. The stock has a 50 day moving average of $59.19 and a 200-day moving average of $54.84. Emerson Electric Company has a one year low of $47.18 and a one year high of $64.36. The firm has a market capitalization of $40.57 billion, a price-to-earnings ratio of 25.52 and a beta of 1.17.
Emerson Electric Company (NYSE:EMR) last posted its quarterly earnings data on Tuesday, February 7th. The company reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of $0.42 by $0.07. The business earned $3.20 billion during the quarter, compared to analyst estimates of $3.17 billion. Emerson Electric Company had a net margin of 8.50% and a return on equity of 24.26%. The company’s revenue was down 3.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.56 earnings per share. On average, equities analysts anticipate that Emerson Electric Company will post $2.52 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 10th. Stockholders of record on Friday, February 17th will be given a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 3.05%. The ex-dividend date is Wednesday, February 15th. Emerson Electric Company’s dividend payout ratio is presently 77.73%.
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A number of research firms recently weighed in on EMR. Zacks Investment Research raised shares of Emerson Electric Company from a “hold” rating to a “buy” rating and set a $71.00 price objective for the company in a research report on Tuesday. Stifel Nicolaus increased their price objective on shares of Emerson Electric Company from $63.00 to $70.00 and gave the stock a “buy” rating in a research report on Thursday, February 9th. Wells Fargo & Company reaffirmed a “market perform” rating on shares of Emerson Electric Company in a research report on Wednesday, February 8th. Barclays PLC increased their price objective on shares of Emerson Electric Company from $56.00 to $63.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 8th. Finally, RBC Capital Markets reaffirmed a “hold” rating and set a $55.00 price objective on shares of Emerson Electric Company in a research report on Wednesday, February 8th. Five analysts have rated the stock with a sell rating, sixteen have given a hold rating and three have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $54.68.
In other news, VP Steven J. Pelch sold 7,839 shares of the business’s stock in a transaction that occurred on Friday, February 10th. The shares were sold at an average price of $63.31, for a total value of $496,287.09. Following the completion of the transaction, the vice president now owns 72,647 shares of the company’s stock, valued at $4,599,281.57. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 0.79% of the company’s stock.
About Emerson Electric Company
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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