Emerson Electric Company (NYSE:EMR) Shares Sold by Nomura Holdings Inc.
Nomura Holdings Inc. cut its stake in Emerson Electric Company (NYSE:EMR) by 40.8% during the first quarter, Holdings Channel reports. The fund owned 50,885 shares of the industrial products company’s stock after selling 35,126 shares during the period. Nomura Holdings Inc.’s holdings in Emerson Electric were worth $3,045,000 as of its most recent SEC filing.
Several other hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. raised 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 valued at $2,615,777,000 after buying an additional 2,404,844 shares in the last quarter. Prudential Financial Inc. raised 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 valued at $177,372,000 after buying an additional 1,706,810 shares in the last quarter. American Century Companies Inc. raised 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 valued at $259,724,000 after buying an additional 705,924 shares in the last quarter. UBS Asset Management Americas Inc. raised its stake in Emerson Electric by 28.8% in the first quarter. UBS Asset Management Americas Inc. now owns 2,418,472 shares of the industrial products company’s stock valued at $144,770,000 after buying an additional 540,927 shares in the last quarter. Finally, APG Asset Management N.V. raised its stake in Emerson Electric by 17.9% in the first quarter. APG Asset Management N.V. now owns 3,352,519 shares of the industrial products company’s stock valued at $200,682,000 after buying an additional 510,160 shares in the last quarter. 69.06% of the stock is owned by institutional investors.
Emerson Electric Company (EMR) traded down 0.42% during midday trading on Friday, hitting $58.89. The company had a trading volume of 739,218 shares. The company has a 50 day moving average price of $59.83 and a 200 day moving average price of $59.83. Emerson Electric Company has a 1-year low of $49.22 and a 1-year high of $64.36. The firm has a market capitalization of $37.69 billion, a P/E ratio of 26.28 and a beta of 1.20.
Emerson Electric (NYSE:EMR) last posted its earnings results on Tuesday, August 1st. The industrial products company reported $0.68 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.68. Emerson Electric had a return on equity of 22.32% and a net margin of 8.89%. The firm had revenue of $4.04 billion for the quarter, compared to analysts’ expectations of $3.99 billion. During the same period last year, the firm earned $0.68 EPS. The company’s quarterly revenue was up 9.9% on a year-over-year basis. Equities research analysts forecast that Emerson Electric Company will post $2.61 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 11th. Investors of record on Friday, August 11th will be issued a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 3.25%. The ex-dividend date is Wednesday, August 9th. Emerson Electric’s payout ratio is 85.33%.
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Several analysts have issued reports on EMR shares. Zacks Investment Research lowered Emerson Electric from a “buy” rating to a “hold” rating in a report on Friday, May 5th. BidaskClub raised Emerson Electric from a “sell” rating to a “hold” rating in a report on Friday, June 16th. JMP Securities started coverage on Emerson Electric in a report on Monday, June 19th. They set an “outperform” rating and a $70.00 price target for the company. Royal Bank Of Canada reissued a “sector perform” rating and set a $62.00 price target (up previously from $61.00) on shares of Emerson Electric in a report on Wednesday, August 2nd. Finally, Cowen and Company reissued a “hold” rating and set a $62.00 price target on shares of Emerson Electric in a report on Tuesday, April 25th. Three analysts have rated the stock with a sell rating, fourteen have issued a hold rating and three have issued a buy rating to the company. Emerson Electric currently has an average rating of “Hold” and an average price target of $58.14.
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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