Emerson Electric Company (EMR) Position Lessened by Keystone Financial Planning Inc.
Keystone Financial Planning Inc. lessened its holdings in Emerson Electric Company (NYSE:EMR) by 0.8% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 92,450 shares of the industrial products company’s stock after selling 760 shares during the quarter. Emerson Electric comprises 3.4% of Keystone Financial Planning Inc.’s investment portfolio, making the stock its 13th biggest position. Keystone Financial Planning Inc.’s holdings in Emerson Electric were worth $6,443,000 at the end of the most recent reporting period.
Other hedge funds have also modified their holdings of the company. Beach Investment Management LLC. purchased a new stake in Emerson Electric during the second quarter valued at about $771,000. Deprince Race & Zollo Inc. raised its position in Emerson Electric by 4.3% during the second quarter. Deprince Race & Zollo Inc. now owns 897,319 shares of the industrial products company’s stock valued at $53,498,000 after purchasing an additional 36,709 shares in the last quarter. Hartland & Co. LLC raised its position in Emerson Electric by 0.7% during the second quarter. Hartland & Co. LLC now owns 22,917 shares of the industrial products company’s stock valued at $1,367,000 after purchasing an additional 170 shares in the last quarter. KBC Group NV raised its position in Emerson Electric by 6.2% during the second quarter. KBC Group NV now owns 77,196 shares of the industrial products company’s stock valued at $4,602,000 after purchasing an additional 4,492 shares in the last quarter. Finally, Penobscot Investment Management Company Inc. raised its position in Emerson Electric by 2.0% during the second quarter. Penobscot Investment Management Company Inc. now owns 10,430 shares of the industrial products company’s stock valued at $622,000 after purchasing an additional 200 shares in the last quarter. Institutional investors own 69.44% of the company’s stock.
Shares of Emerson Electric Company (EMR) opened at $70.31 on Tuesday. The company has a current ratio of 1.32, a quick ratio of 1.02 and a debt-to-equity ratio of 0.40. The firm has a market capitalization of $43,848.23, a P/E ratio of 25.87, a price-to-earnings-growth ratio of 2.38 and a beta of 1.19. Emerson Electric Company has a 12-month low of $56.77 and a 12-month high of $74.45.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 9th. Shareholders of record on Friday, February 16th will be given a dividend of $0.485 per share. The ex-dividend date of this dividend is Thursday, February 15th. This represents a $1.94 annualized dividend and a yield of 2.76%. Emerson Electric’s payout ratio is 78.23%.
A number of research firms have weighed in on EMR. JMP Securities downgraded Emerson Electric from an “outperform” rating to a “market perform” rating and lowered their price target for the company from $74.45 to $56.77 in a research report on Thursday, February 1st. Robert W. Baird raised their price objective on Emerson Electric from $70.00 to $76.00 and gave the company a “neutral” rating in a research note on Wednesday, February 7th. JPMorgan Chase & Co. raised Emerson Electric from a “neutral” rating to an “overweight” rating in a research note on Friday. Cowen raised Emerson Electric from a “market perform” rating to an “outperform” rating in a research note on Tuesday, October 17th. Finally, Zacks Investment Research raised Emerson Electric from a “sell” rating to a “hold” rating in a research note on Tuesday, October 31st. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $67.65.
In other Emerson Electric news, VP Frank J. Dellaquila sold 2,100 shares of Emerson Electric stock in a transaction that occurred on Wednesday, December 6th. The stock was sold at an average price of $64.77, for a total transaction of $136,017.00. Following the sale, the vice president now directly owns 178,743 shares of the company’s stock, valued at approximately $11,577,184.11. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO Edgar M. Purvis, Jr. sold 9,490 shares of Emerson Electric stock in a transaction that occurred on Friday, December 8th. The shares were sold at an average price of $65.74, for a total value of $623,872.60. Following the sale, the chief operating officer now directly owns 168,984 shares in the company, valued at $11,109,008.16. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 27,017 shares of company stock worth $1,771,129. Insiders own 0.84% of the company’s stock.
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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