Emerson Electric Company (EMR) Shares Sold by Bowen Hanes & Co. Inc.
Bowen Hanes & Co. Inc. trimmed its holdings in shares of Emerson Electric Company (NYSE:EMR) by 0.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 56,787 shares of the industrial products company’s stock after selling 492 shares during the period. Bowen Hanes & Co. Inc.’s holdings in Emerson Electric were worth $3,386,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Central Bank & Trust Co. increased its holdings in Emerson Electric by 31.3% during the first quarter. Central Bank & Trust Co. now owns 2,100 shares of the industrial products company’s stock worth $126,000 after buying an additional 500 shares during the last quarter. Oppenheimer Asset Management Inc. purchased a new position in Emerson Electric in the first quarter valued at about $127,000. Harbour Capital Advisors LLC purchased a new position in Emerson Electric in the first quarter valued at about $147,000. Guardian Life Insurance Co. of America boosted its stake in Emerson Electric by 1.1% in the first quarter. Guardian Life Insurance Co. of America now owns 2,491 shares of the industrial products company’s stock valued at $149,000 after acquiring an additional 28 shares during the last quarter. Finally, Perkins Coie Trust Co bought a new position in shares of Emerson Electric during the 2nd quarter valued at approximately $150,000. Institutional investors own 70.03% of the company’s stock.
Emerson Electric Company (EMR) opened at 63.20 on Tuesday. The company’s 50-day moving average price is $60.64 and its 200 day moving average price is $59.80. Emerson Electric Company has a 52-week low of $49.22 and a 52-week high of $64.36. The stock has a market capitalization of $40.45 billion, a PE ratio of 28.20 and a beta of 1.21.
Emerson Electric (NYSE:EMR) last posted its quarterly earnings results on Tuesday, August 1st. The industrial products company reported $0.68 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.68. The business had revenue of $4.04 billion during the quarter, compared to analyst estimates of $3.99 billion. Emerson Electric had a net margin of 8.89% and a return on equity of 22.32%. The company’s revenue was up 9.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.68 earnings per share. Equities analysts forecast that Emerson Electric Company will post $2.61 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Monday, September 11th. Shareholders of record on Friday, August 11th were paid 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 3.04%. Emerson Electric’s payout ratio is presently 85.33%.
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A number of equities research analysts recently commented on EMR shares. Morgan Stanley lifted their price target on shares of Emerson Electric from $64.00 to $67.00 and gave the stock an “overweight” rating in a report on Monday. JMP Securities assumed coverage on Emerson Electric in a research report on Monday, June 19th. They set an “outperform” rating and a $70.00 price target on the stock. BidaskClub raised Emerson Electric from a “sell” rating to a “hold” rating in a research report on Friday, June 16th. Royal Bank Of Canada reiterated a “sector perform” rating and set a $62.00 price target (up previously from $61.00) on shares of Emerson Electric in a research note on Wednesday, August 2nd. Finally, Stifel Nicolaus reiterated a “buy” rating and set a $68.00 price target on shares of Emerson Electric in a research note on Wednesday, July 19th. Three analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $61.02.
In other Emerson Electric news, insider Robert T. Sharp sold 2,000 shares of the firm’s stock in a transaction dated Thursday, August 31st. The stock was sold at an average price of $58.99, for a total transaction of $117,980.00. Following the sale, the insider now directly owns 64,290 shares of the company’s stock, valued at $3,792,467.10. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.79% of the stock is owned by company insiders.
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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