Emerson Electric Co. (EMR) Holdings Trimmed by Monarch Capital Management Inc.
Monarch Capital Management Inc. lessened its holdings in shares of Emerson Electric Co. (NYSE:EMR) by 5.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 88,125 shares of the industrial products company’s stock after selling 5,140 shares during the quarter. Emerson Electric makes up approximately 2.4% of Monarch Capital Management Inc.’s investment portfolio, making the stock its 14th largest position. Monarch Capital Management Inc.’s holdings in Emerson Electric were worth $6,749,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Bank of New York Mellon Corp boosted its holdings in shares of Emerson Electric by 3,146,008.7% during the third quarter. Bank of New York Mellon Corp now owns 9,375,404 shares of the industrial products company’s stock worth $717,967,000 after acquiring an additional 9,375,106 shares during the period. Millennium Management LLC boosted its holdings in shares of Emerson Electric by 1,480.3% during the second quarter. Millennium Management LLC now owns 1,156,665 shares of the industrial products company’s stock worth $79,972,000 after acquiring an additional 1,083,470 shares during the period. Los Angeles Capital Management & Equity Research Inc. boosted its holdings in shares of Emerson Electric by 424.9% during the third quarter. Los Angeles Capital Management & Equity Research Inc. now owns 792,956 shares of the industrial products company’s stock worth $60,725,000 after acquiring an additional 641,890 shares during the period. FMR LLC boosted its holdings in shares of Emerson Electric by 22.2% during the second quarter. FMR LLC now owns 3,430,748 shares of the industrial products company’s stock worth $237,202,000 after acquiring an additional 622,701 shares during the period. Finally, DekaBank Deutsche Girozentrale boosted its stake in shares of Emerson Electric by 98.6% in the third quarter. DekaBank Deutsche Girozentrale now owns 1,227,846 shares of the industrial products company’s stock valued at $93,958,000 after buying an additional 609,634 shares during the period. 70.55% of the stock is currently owned by hedge funds and other institutional investors.
Several brokerages recently issued reports on EMR. Barclays boosted their price target on Emerson Electric from $80.00 to $85.00 and gave the company an “overweight” rating in a research note on Thursday, August 9th. UBS Group boosted their price target on Emerson Electric from $85.00 to $90.00 and gave the company a “buy” rating in a research note on Thursday, August 30th. Cowen reiterated a “buy” rating and issued a $81.00 price target on shares of Emerson Electric in a research note on Wednesday, September 19th. Bank of America boosted their price target on Emerson Electric from $82.00 to $90.00 and gave the company a “buy” rating in a research note on Thursday, October 4th. Finally, Zacks Investment Research cut Emerson Electric from a “hold” rating to a “sell” rating in a research note on Tuesday, November 13th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and fourteen have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $78.39.
Emerson Electric (NYSE:EMR) last released its earnings results on Tuesday, November 6th. The industrial products company reported $0.89 earnings per share for the quarter, missing the consensus estimate of $0.92 by ($0.03). Emerson Electric had a return on equity of 23.06% and a net margin of 12.65%. The business had revenue of $4.89 billion for the quarter, compared to the consensus estimate of $4.91 billion. During the same quarter in the previous year, the company earned $0.83 earnings per share. The firm’s revenue for the quarter was up 10.2% on a year-over-year basis. As a group, sell-side analysts expect that Emerson Electric Co. will post 3.68 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, December 10th. Shareholders of record on Friday, November 16th will be paid a dividend of $0.49 per share. The ex-dividend date of this dividend is Thursday, November 15th. This is a boost from Emerson Electric’s previous quarterly dividend of $0.49. This represents a $1.96 annualized dividend and a yield of 3.09%. Emerson Electric’s dividend payout ratio is presently 57.99%.
In other news, President Edward L. Monser sold 30,000 shares of the company’s stock in a transaction on Friday, September 7th. The shares were sold at an average price of $75.84, for a total transaction of $2,275,200.00. Following the completion of the transaction, the president now directly owns 176,477 shares in the company, valued at $13,384,015.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Surendralal Lanca Karsanbhai sold 9,070 shares of the company’s stock in a transaction on Wednesday, November 28th. The stock was sold at an average price of $68.00, for a total transaction of $616,760.00. Following the transaction, the insider now owns 20,000 shares of the company’s stock, valued at $1,360,000. The disclosure for this sale can be found here. Insiders have sold 99,070 shares of company stock valued at $7,457,960 over the last 90 days. Corporate insiders own 0.79% of the company’s stock.
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About Emerson Electric
Emerson Electric Co, a technology and engineering company, provides various solutions to industrial, commercial, and residential markets worldwide. The company's Automation Solutions segment offers software; measurement and analytical instrumentation; valves, actuators, and regulators; industry services and solutions; process control systems and solutions; and digital plant solutions.
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