Franklin Resources Inc. Cuts Stake in Emerson Electric Company (EMR)
Franklin Resources Inc. decreased its holdings in Emerson Electric Company (NYSE:EMR) by 5.7% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,351,460 shares of the industrial products company’s stock after selling 82,060 shares during the period. Franklin Resources Inc. owned approximately 0.21% of Emerson Electric worth $80,574,000 as of its most recent SEC filing.
Other institutional investors have also made changes to their positions in the company. Oppenheimer Asset Management Inc. purchased a new stake in shares of Emerson Electric in the 1st quarter valued at $127,000. AT Bancorp purchased a new stake in Emerson Electric during the 2nd quarter valued at $139,000. Harbour Capital Advisors LLC purchased a new stake in Emerson Electric during the 1st quarter valued at $147,000. Guardian Life Insurance Co. of America boosted its position in Emerson Electric by 1.1% during the 1st quarter. Guardian Life Insurance Co. of America now owns 2,491 shares of the industrial products company’s stock valued at $149,000 after buying an additional 28 shares during the period. Finally, Perkins Coie Trust Co purchased a new stake in Emerson Electric during the 2nd quarter valued at $150,000. 70.14% of the stock is owned by institutional investors.
In related news, insider Robert T. Sharp sold 2,000 shares of the stock in a transaction dated 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 transaction, the insider now directly owns 64,290 shares in the company, valued at approximately $3,792,467.10. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.79% of the stock is owned by company insiders.
Emerson Electric Company (EMR) opened at $64.52 on Tuesday. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.59 and a quick ratio of 1.24. Emerson Electric Company has a 1-year low of $49.38 and a 1-year high of $67.79. The company has a market cap of $41,025.25, a price-to-earnings ratio of 23.65, a price-to-earnings-growth ratio of 2.91 and a beta of 1.24.
Emerson Electric (NYSE:EMR) last issued its quarterly earnings results on Tuesday, November 7th. The industrial products company reported $0.83 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.79 by $0.04. Emerson Electric had a net margin of 8.89% and a return on equity of 22.32%. sell-side analysts predict that Emerson Electric Company will post 2.64 earnings per share for the current fiscal year.
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Several brokerages have weighed in on EMR. Zacks Investment Research raised shares of Emerson Electric from a “sell” rating to a “hold” rating in a research report on Tuesday, October 31st. BidaskClub cut shares of Emerson Electric from a “sell” rating to a “strong sell” rating in a research report on Friday, August 18th. Cowen and Company raised shares of Emerson Electric to a “buy” rating and set a $71.00 price target for the company in a research report on Monday, October 23rd. Stifel Nicolaus reissued a “buy” rating and set a $68.00 price target on shares of Emerson Electric in a research report on Wednesday, July 19th. Finally, Morgan Stanley reissued an “overweight” rating on shares of Emerson Electric in a research report on Tuesday, July 11th. Four investment analysts have rated the stock with a sell rating, ten have given a hold rating and four have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $62.86.
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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