Emerson Electric Company (EMR) Shares Sold by Sippican Capital Advisors
Sippican Capital Advisors decreased its position in Emerson Electric Company (NYSE:EMR) by 23.2% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,800 shares of the industrial products company’s stock after selling 1,150 shares during the quarter. Sippican Capital Advisors’ holdings in Emerson Electric were worth $239,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Captrust Financial Advisors purchased a new stake in shares of Emerson Electric during the second quarter worth $177,119,000. Vanguard Group Inc. increased its position in shares of Emerson Electric by 5.8% during 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 acquiring an additional 2,404,844 shares during the period. Pictet Asset Management Ltd. increased its position in shares of Emerson Electric by 217.1% during 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 during the period. BlackRock Inc. increased its position in shares of Emerson Electric by 1.9% during 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 during the period. Finally, Parametric Portfolio Associates LLC increased its position in shares of Emerson Electric by 47.0% during the second quarter. Parametric Portfolio Associates LLC now owns 1,917,343 shares of the industrial products company’s stock worth $114,312,000 after acquiring an additional 612,812 shares during the period. 69.00% of the stock is currently owned by institutional investors.
Emerson Electric Company (NYSE EMR) opened at $67.26 on Friday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.30 and a current ratio of 1.64. The company has a market cap of $43,168.82, a price-to-earnings ratio of 26.07, a P/E/G ratio of 3.02 and a beta of 1.24. Emerson Electric Company has a 12 month low of $55.40 and a 12 month high of $67.83.
The company also recently announced a quarterly dividend, which was paid on Monday, December 11th. Investors of record on Friday, November 17th were paid a dividend of $0.485 per share. The ex-dividend date was Thursday, November 16th. This represents a $1.94 dividend on an annualized basis and a dividend yield of 2.88%. This is an increase from Emerson Electric’s previous quarterly dividend of $0.48. Emerson Electric’s payout ratio is presently 82.55%.
In other Emerson Electric news, VP Bell Katherine Button sold 7,909 shares of the company’s stock in a transaction on Thursday, November 30th. The shares were sold at an average price of $64.78, for a total value of $512,345.02. Following the completion of the transaction, the vice president now owns 44,628 shares in the company, valued at $2,891,001.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Frank J. Dellaquila sold 2,100 shares of the company’s stock in a transaction on Wednesday, December 6th. The shares were sold at an average price of $64.77, for a total transaction of $136,017.00. Following the completion of the transaction, the vice president now owns 178,743 shares of the company’s stock, valued at approximately $11,577,184.11. The disclosure for this sale can be found here. Insiders sold 27,017 shares of company stock valued at $1,771,129 in the last 90 days. 0.79% of the stock is currently owned by insiders.
A number of analysts have recently weighed in on EMR shares. Cowen reaffirmed a “buy” rating and set a $72.00 price objective on shares of Emerson Electric in a research report on Wednesday, December 6th. Zacks Investment Research lowered Emerson Electric from a “hold” rating to a “sell” rating in a research report on Tuesday, October 17th. Robert W. Baird reaffirmed a “hold” rating and set a $70.00 price objective on shares of Emerson Electric in a research report on Friday, November 10th. Goldman Sachs Group reaffirmed a “neutral” rating and set a $66.00 price objective on shares of Emerson Electric in a research report on Friday, December 8th. Finally, Royal Bank of Canada reaffirmed a “neutral” rating on shares of Emerson Electric in a research report on Thursday, November 9th. Three investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have issued a buy rating to the stock. Emerson Electric presently has an average rating of “Hold” and a consensus target price of $65.86.
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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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