Bp Plc Cuts Stake in Emerson Electric Company (EMR)
Bp Plc cut its position in Emerson Electric Company (NYSE:EMR) by 35.1% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 50,000 shares of the industrial products company’s stock after selling 27,000 shares during the period. Bp Plc’s holdings in Emerson Electric were worth $2,981,000 at the end of the most recent quarter.
Several other hedge funds have also recently made changes to their positions in EMR. Cliftonlarsonallen Wealth Advisors LLC boosted its stake in shares of Emerson Electric by 6.0% in the second quarter. Cliftonlarsonallen Wealth Advisors LLC now owns 14,382 shares of the industrial products company’s stock worth $857,000 after buying an additional 820 shares during the last quarter. Advisor Partners LLC boosted its stake in shares of Emerson Electric by 7.4% in the second quarter. Advisor Partners LLC now owns 14,270 shares of the industrial products company’s stock worth $851,000 after buying an additional 987 shares during the last quarter. Pictet Asset Management Ltd. boosted its stake in shares of Emerson Electric by 217.1% in the second quarter. Pictet Asset Management Ltd. now owns 2,460,762 shares of the industrial products company’s stock worth $145,480,000 after buying an additional 1,684,786 shares during the last quarter. Endurance Wealth Management Inc. boosted its stake in shares of Emerson Electric by 4.0% in the second quarter. Endurance Wealth Management Inc. now owns 3,893 shares of the industrial products company’s stock worth $232,000 after buying an additional 150 shares during the last quarter. Finally, AT Bancorp purchased a new stake in shares of Emerson Electric in the second quarter worth about $139,000. 70.03% of the stock is currently owned by institutional investors and hedge funds.
In other Emerson Electric news, insider Robert T. Sharp sold 2,000 shares of the business’s stock in a transaction that occurred on Thursday, August 31st. The stock was sold at an average price of $58.99, for a total transaction of $117,980.00. Following the transaction, the insider now owns 64,290 shares in the company, valued at approximately $3,792,467.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.79% of the company’s stock.
Emerson Electric Company (NYSE EMR) opened at 63.98 on Friday. The stock has a market cap of $40.95 billion, a P/E ratio of 28.55 and a beta of 1.22. The firm’s 50-day moving average price is $61.01 and its 200-day moving average price is $59.87. Emerson Electric Company has a 12 month low of $49.22 and a 12 month high of $64.36.
Emerson Electric (NYSE:EMR) last released its earnings results on Tuesday, August 1st. The industrial products company reported $0.68 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.68. Emerson Electric had a return on equity of 22.32% and a net margin of 8.89%. The company had revenue of $4.04 billion for the quarter, compared to analysts’ expectations of $3.99 billion. During the same quarter in the previous year, the firm posted $0.68 EPS. The firm’s quarterly revenue was up 9.9% on a year-over-year basis. On average, analysts predict that Emerson Electric Company will post $2.61 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Monday, September 11th. Shareholders of record on Friday, August 11th were given a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a yield of 3.00%. The ex-dividend date of this dividend was Wednesday, August 9th. Emerson Electric’s payout ratio is 85.33%.
A number of analysts have recently commented on the company. Morgan Stanley restated an “equal weight” rating and issued a $67.00 target price (up previously from $64.00) on shares of Emerson Electric in a research note on Monday. BidaskClub downgraded Emerson Electric from a “sell” rating to a “strong sell” rating in a research note on Friday, August 18th. Berenberg Bank restated a “sell” rating and issued a $53.00 target price on shares of Emerson Electric in a research note on Friday, August 11th. Royal Bank Of Canada restated a “sector perform” rating and issued a $62.00 target price (up previously from $61.00) on shares of Emerson Electric in a research note on Wednesday, August 2nd. Finally, Stifel Nicolaus restated a “buy” rating and issued a $68.00 target price on shares of Emerson Electric in a research note on Wednesday, July 19th. Three equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and two have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $60.68.
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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