Emerson Electric Company (EMR) Shares Bought by Stearns Financial Services Group
Stearns Financial Services Group increased its position in Emerson Electric Company (NYSE:EMR) by 0.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,552 shares of the industrial products company’s stock after purchasing an additional 6 shares during the quarter. Stearns Financial Services Group’s holdings in Emerson Electric were worth $331,000 as of its most recent SEC filing.
A number of other large investors have also recently made changes to their positions in EMR. Vanguard Group Inc. grew its stake in Emerson Electric by 5.8% in the first 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 in the last quarter. Prudential Financial Inc. grew its stake in Emerson Electric by 135.9% in the first quarter. Prudential Financial Inc. now owns 2,963,124 shares of the industrial products company’s stock worth $177,372,000 after purchasing an additional 1,706,810 shares in the last quarter. Pictet Asset Management Ltd. grew its stake 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 purchasing an additional 1,684,786 shares in the last quarter. American Century Companies Inc. grew its stake in Emerson Electric by 19.4% in the first quarter. American Century Companies Inc. now owns 4,338,862 shares of the industrial products company’s stock worth $259,724,000 after purchasing an additional 705,924 shares in the last quarter. Finally, Bank of Nova Scotia grew its stake in Emerson Electric by 3,745.5% in the first quarter. Bank of Nova Scotia now owns 561,400 shares of the industrial products company’s stock worth $33,771,000 after purchasing an additional 546,801 shares in the last quarter. 70.03% of the stock is currently owned by institutional investors.
Several brokerages recently issued reports on EMR. Morgan Stanley reissued an “equal weight” rating and issued a $67.00 price objective (up previously from $64.00) on shares of Emerson Electric in a research note on Monday, October 2nd. BidaskClub cut Emerson Electric from a “sell” rating to a “strong sell” rating in a research note on Friday, August 18th. Berenberg Bank reissued a “sell” rating and issued a $53.00 price objective on shares of Emerson Electric in a research note on Friday, August 11th. Royal Bank Of Canada reissued a “sector perform” rating and issued a $62.00 price objective (up previously from $61.00) on shares of Emerson Electric in a research note on Wednesday, August 2nd. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $68.00 price objective on shares of Emerson Electric in a research note on Wednesday, July 19th. Three investment analysts have rated the stock with a sell rating, eleven have given a hold rating and two have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $60.68.
In related 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 value of $117,980.00. Following the completion of the sale, the insider now directly owns 64,290 shares of the company’s stock, valued at $3,792,467.10. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 0.79% of the stock is owned by insiders.
Shares of Emerson Electric Company (NYSE:EMR) opened at 63.70 on Friday. The stock’s 50 day moving average price is $61.17 and its 200 day moving average price is $59.90. Emerson Electric Company has a one year low of $49.22 and a one year high of $64.36. The stock has a market cap of $40.77 billion, a price-to-earnings ratio of 28.42 and a beta of 1.22.
Emerson Electric (NYSE:EMR) last announced its quarterly earnings results on Tuesday, August 1st. The industrial products company reported $0.68 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.68. Emerson Electric had a net margin of 8.89% and a return on equity of 22.32%. The firm had revenue of $4.04 billion during the quarter, compared to analysts’ expectations of $3.99 billion. During the same period in the previous year, the company earned $0.68 earnings per share. Emerson Electric’s quarterly revenue was up 9.9% compared to the same quarter last year. Analysts forecast that Emerson Electric Company will post $2.61 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Monday, September 11th. Investors of record on Friday, August 11th were given a $0.48 dividend. The ex-dividend date of this dividend was Wednesday, August 9th. This represents a $1.92 dividend on an annualized basis and a yield of 3.01%. Emerson Electric’s dividend payout ratio (DPR) is presently 85.33%.
About Emerson Electric
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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