Emerson Electric Company (EMR) Holdings Lowered by Employees Retirement System of Texas
Employees Retirement System of Texas lowered its position in shares of Emerson Electric Company (NYSE:EMR) by 2.5% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 39,000 shares of the industrial products company’s stock after selling 1,000 shares during the quarter. Employees Retirement System of Texas’ holdings in Emerson Electric were worth $2,325,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors have also recently bought and sold shares of EMR. Fagan Associates Inc. raised its holdings in shares of Emerson Electric by 19.3% in the 2nd quarter. Fagan Associates Inc. now owns 5,975 shares of the industrial products company’s stock worth $356,000 after purchasing an additional 968 shares during the period. Pinnacle Wealth Management Advisory Group LLC raised its holdings in shares of Emerson Electric by 6.6% in the 2nd quarter. Pinnacle Wealth Management Advisory Group LLC now owns 10,075 shares of the industrial products company’s stock worth $601,000 after purchasing an additional 620 shares during the period. Andra AP fonden raised its holdings in shares of Emerson Electric by 5.2% in the 2nd quarter. Andra AP fonden now owns 95,300 shares of the industrial products company’s stock worth $5,682,000 after purchasing an additional 4,700 shares during the period. Lipe & Dalton raised its holdings in shares of Emerson Electric by 1.3% in the 2nd quarter. Lipe & Dalton now owns 42,125 shares of the industrial products company’s stock worth $2,511,000 after purchasing an additional 560 shares during the period. Finally, Vanguard Group Inc. raised its holdings in shares of Emerson Electric by 5.8% in the 1st quarter. Vanguard Group Inc. now owns 43,698,252 shares of the industrial products company’s stock worth $2,615,777,000 after purchasing an additional 2,404,844 shares during the period. 69.35% of the stock is currently owned by hedge funds and other institutional investors.
EMR has been the topic of a number of research reports. Edward Jones cut shares of Emerson Electric from a “buy” rating to a “hold” rating in a report on Friday, November 17th. Wells Fargo & Company reaffirmed a “market perform” rating and issued a $65.00 price target (up previously from $60.00) on shares of Emerson Electric in a report on Wednesday, November 8th. Stifel Nicolaus reaffirmed a “buy” rating on shares of Emerson Electric in a report on Thursday, October 12th. Bank of America Corporation raised shares of Emerson Electric from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $64.44 to $79.00 in a report on Tuesday, October 17th. Finally, Zacks Investment Research cut shares of Emerson Electric from a “hold” rating to a “sell” rating in a report on Tuesday, October 17th. Three research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and three have given a buy rating to the stock. Emerson Electric has an average rating of “Hold” and a consensus target price of $65.14.
Emerson Electric Company (NYSE:EMR) opened at $61.88 on Thursday. The company has a market cap of $38,733.82, a price-to-earnings ratio of 23.39, a PEG ratio of 2.84 and a beta of 1.24. The company has a current ratio of 1.64, a quick ratio of 1.30 and a debt-to-equity ratio of 0.43. Emerson Electric Company has a 1 year low of $53.92 and a 1 year high of $67.79.
Emerson Electric (NYSE:EMR) last released its quarterly earnings results on Tuesday, November 7th. The industrial products company reported $0.83 EPS for the quarter, meeting analysts’ consensus estimates of $0.83. The firm had revenue of $4.44 billion during the quarter, compared to analyst estimates of $4.43 billion. Emerson Electric had a net margin of 9.94% and a return on equity of 20.47%. The business’s revenue for the quarter was up 12.8% on a year-over-year basis. During the same period in the previous year, the business earned $0.74 EPS. sell-side analysts anticipate that Emerson Electric Company will post 2.91 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, December 11th. Stockholders of record on Friday, November 17th will be given a dividend of $0.485 per share. This is a positive change from Emerson Electric’s previous quarterly dividend of $0.48. This represents a $1.94 dividend on an annualized basis and a dividend yield of 3.14%. The ex-dividend date of this dividend is Thursday, November 16th. Emerson Electric’s payout ratio is 82.55%.
In other news, insider Robert T. Sharp sold 2,000 shares of the business’s stock in a transaction on Thursday, August 31st. The shares were sold at an average price of $58.99, for a total transaction of $117,980.00. Following the completion of the transaction, the insider now directly owns 64,290 shares in the company, valued at approximately $3,792,467.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.79% of the stock is owned by insiders.
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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