Emerson Electric Company (EMR) Position Reduced by Synovus Financial Corp
Synovus Financial Corp lowered its holdings in shares of Emerson Electric Company (NYSE:EMR) by 1.1% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 121,650 shares of the industrial products company’s stock after selling 1,359 shares during the period. Synovus Financial Corp’s holdings in Emerson Electric were worth $7,622,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in EMR. Captrust Financial Advisors bought a new position in Emerson Electric in the second quarter worth approximately $177,119,000. Pictet Asset Management Ltd. boosted its holdings in 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 acquiring an additional 1,684,786 shares in the last quarter. Longview Partners Guernsey LTD boosted its holdings in Emerson Electric by 9.0% in the third quarter. Longview Partners Guernsey LTD now owns 13,758,325 shares of the industrial products company’s stock worth $864,573,000 after acquiring an additional 1,134,275 shares in the last quarter. BlackRock Inc. boosted its holdings in Emerson Electric by 1.9% in the second quarter. BlackRock Inc. now owns 40,954,867 shares of the industrial products company’s stock worth $2,441,728,000 after acquiring an additional 778,791 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in Emerson Electric by 57.5% in the third quarter. JPMorgan Chase & Co. now owns 1,759,509 shares of the industrial products company’s stock worth $110,603,000 after acquiring an additional 642,416 shares in the last quarter. 69.18% of the stock is owned by institutional investors and hedge funds.
Several research analysts have issued reports on EMR shares. Edward Jones lowered Emerson Electric from a “buy” rating to a “hold” rating in a report on Friday, November 17th. Wells Fargo & Co reiterated 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 reiterated a “buy” rating on shares of Emerson Electric in a report on Thursday, October 12th. Bank of America upgraded Emerson Electric from a “neutral” rating to a “buy” rating and increased their price target for the stock from $64.44 to $79.00 in a report on Tuesday, October 17th. Finally, Zacks Investment Research lowered 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, eleven have issued a hold rating and five have assigned a buy rating to the company. Emerson Electric presently has a consensus rating of “Hold” and an average price target of $65.86.
In related news, COO Edgar M. Purvis, Jr. sold 9,490 shares of Emerson Electric stock in a transaction on Friday, December 8th. The stock was sold at an average price of $65.74, for a total transaction 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Bell Katherine Button sold 7,518 shares of Emerson Electric stock in a transaction on Monday, December 11th. The stock was sold at an average price of $66.36, for a total value of $498,894.48. Following the sale, the vice president now owns 36,877 shares in the company, valued at $2,447,157.72. The disclosure for this sale can be found here. Insiders sold 27,017 shares of company stock worth $1,771,129 in the last 90 days. Corporate insiders own 0.84% of the company’s stock.
Emerson Electric Company (NYSE:EMR) opened at $72.32 on Wednesday. Emerson Electric Company has a fifty-two week low of $56.00 and a fifty-two week high of $72.59. The company has a quick ratio of 1.30, a current ratio of 1.64 and a debt-to-equity ratio of 0.43. The firm has a market capitalization of $46,420.00, a P/E ratio of 28.25, a PEG ratio of 3.25 and a beta of 1.24.
Emerson Electric (NYSE:EMR) last posted its earnings results on Tuesday, November 7th. The industrial products company reported $0.83 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.83. Emerson Electric had a return on equity of 20.47% and a net margin of 9.94%. The company had revenue of $4.44 billion for the quarter, compared to analyst estimates of $4.43 billion. During the same quarter last year, the company earned $0.74 earnings per share. The company’s revenue for the quarter was up 12.8% on a year-over-year basis. sell-side analysts forecast that Emerson Electric Company will post 2.92 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Monday, December 11th. Stockholders of record on Friday, November 17th were issued a $0.485 dividend. This represents a $1.94 dividend on an annualized basis and a dividend yield of 2.68%. The ex-dividend date was Thursday, November 16th. This is a positive change from Emerson Electric’s previous quarterly dividend of $0.48. Emerson Electric’s dividend payout ratio (DPR) is currently 75.78%.
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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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