Emerson Electric Company (EMR) Position Reduced by King Luther Capital Management Corp
King Luther Capital Management Corp trimmed its holdings in shares of Emerson Electric Company (NYSE:EMR) by 1.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 498,417 shares of the company’s stock after selling 8,577 shares during the quarter. King Luther Capital Management Corp owned about 0.08% of Emerson Electric worth $29,716,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors have also bought and sold shares of the stock. Vanguard Group Inc. grew its position in Emerson Electric by 5.8% during the first quarter. Vanguard Group Inc. now owns 43,698,252 shares of the company’s stock worth $2,615,777,000 after buying an additional 2,404,844 shares in the last quarter. Longview Partners Guernsey LTD grew its position in Emerson Electric by 4.4% during the second quarter. Longview Partners Guernsey LTD now owns 12,624,050 shares of the company’s stock worth $752,646,000 after buying an additional 526,712 shares in the last quarter. Wells Fargo & Company MN grew its position in Emerson Electric by 4.3% during the second quarter. Wells Fargo & Company MN now owns 10,532,262 shares of the company’s stock worth $627,933,000 after buying an additional 432,753 shares in the last quarter. American International Group Inc. grew its position in Emerson Electric by 0.6% during the first quarter. American International Group Inc. now owns 9,041,764 shares of the company’s stock worth $541,240,000 after buying an additional 53,444 shares in the last quarter. Finally, American Century Companies Inc. grew its position in Emerson Electric by 3.2% during the second quarter. American Century Companies Inc. now owns 4,478,670 shares of the company’s stock worth $267,018,000 after buying an additional 139,808 shares in the last quarter. Institutional investors and hedge funds own 70.14% of the company’s stock.
Several research firms recently commented on EMR. BidaskClub cut Emerson Electric from a “sell” rating to a “strong sell” rating in a research report on Friday, August 18th. Robert W. Baird restated a “hold” rating and set a $70.00 target price on shares of Emerson Electric in a research report on Friday. Zacks Investment Research upgraded Emerson Electric from a “sell” rating to a “hold” rating in a research report on Tuesday, October 31st. Cowen and Company upgraded Emerson Electric to a “buy” rating and set a $71.00 target price for the company in a research report on Monday, October 23rd. Finally, Stifel Nicolaus restated a “buy” rating and set a $68.00 target price on shares of Emerson Electric in a research report on Wednesday, July 19th. Three equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and four have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of C$65.14.
In other news, insider Robert T. Sharp sold 2,000 shares of the business’s stock in a transaction dated Thursday, August 31st. The stock was sold at an average price of C$58.99, for a total value of C$117,980.00. Following the completion of the sale, the insider now owns 64,290 shares of the company’s stock, valued at approximately C$3,792,467.10. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 0.79% of the company’s stock.
Shares of Emerson Electric Company (NYSE EMR) opened at C$61.61 on Friday. Emerson Electric Company has a 52 week low of C$53.92 and a 52 week high of C$67.79. The company has a quick ratio of 1.24, a current ratio of 1.64 and a debt-to-equity ratio of 0.43. The firm has a market capitalization of $39,431.63, a PE ratio of 23.88, a PEG ratio of 2.81 and a beta of 1.24.
Emerson Electric (NYSE:EMR) last released its earnings results on Tuesday, November 7th. The company reported C$0.83 earnings per share for the quarter, meeting analysts’ consensus estimates of C$0.83. Emerson Electric had a return on equity of 20.47% and a net margin of 9.94%. The company had revenue of C$4.44 billion during the quarter, compared to analyst estimates of C$4.43 billion. During the same quarter in the previous year, the company posted $0.74 EPS. Emerson Electric’s revenue for the quarter was up 12.8% on a year-over-year basis. analysts expect that Emerson Electric Company will post 2.9 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, December 11th. Stockholders of record on Friday, November 17th will be paid a $0.485 dividend. This represents a $1.94 dividend on an annualized basis and a dividend yield of 3.15%. The ex-dividend date of this dividend is Thursday, November 16th. This is a positive change from Emerson Electric’s previous quarterly dividend of $0.48. Emerson Electric’s payout ratio is 81.70%.
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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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