Garner Asset Management Corp Has $383,000 Holdings in Emerson Electric Company (EMR)
Garner Asset Management Corp cut its stake in Emerson Electric Company (NYSE:EMR) by 14.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,095 shares of the industrial products company’s stock after selling 1,000 shares during the period. Garner Asset Management Corp’s holdings in Emerson Electric were worth $383,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Fagan Associates Inc. increased its stake in shares of Emerson Electric by 19.3% in the 2nd quarter. Fagan Associates Inc. now owns 5,975 shares of the industrial products company’s stock valued at $356,000 after purchasing an additional 968 shares during the last quarter. Pinnacle Wealth Management Advisory Group LLC increased its stake in shares of Emerson Electric by 6.6% in the 2nd quarter. Pinnacle Wealth Management Advisory Group LLC now owns 10,075 shares of the industrial products company’s stock valued at $601,000 after purchasing an additional 620 shares during the last quarter. Andra AP fonden grew its position in Emerson Electric by 5.2% during the 2nd quarter. Andra AP fonden now owns 95,300 shares of the industrial products company’s stock worth $5,682,000 after acquiring an additional 4,700 shares during the last quarter. Lipe & Dalton grew its position in Emerson Electric by 1.3% during the 2nd quarter. Lipe & Dalton now owns 42,125 shares of the industrial products company’s stock worth $2,511,000 after acquiring an additional 560 shares during the last quarter. Finally, Vanguard Group Inc. grew its position in Emerson Electric by 5.8% during the 1st 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 last quarter. 69.00% of the stock is owned by hedge funds and other institutional investors.
In related news, VP Bell Katherine Button sold 7,518 shares of the company’s stock in a transaction that occurred on Monday, December 11th. The stock was sold at an average price of $66.36, for a total transaction of $498,894.48. Following the transaction, the vice president now directly owns 36,877 shares of the company’s stock, valued at approximately $2,447,157.72. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Frank J. Dellaquila sold 2,100 shares of the company’s stock in a transaction that occurred on Wednesday, December 6th. The stock was sold at an average price of $64.77, for a total value of $136,017.00. Following the transaction, the vice president now directly owns 178,743 shares in the company, valued at $11,577,184.11. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 27,017 shares of company stock worth $1,771,129. 0.79% of the stock is owned by company insiders.
Emerson Electric (NYSE:EMR) last announced its quarterly earnings data on Tuesday, November 7th. The industrial products company reported $0.83 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.83. The company had revenue of $4.44 billion for the quarter, compared to the consensus estimate of $4.43 billion. Emerson Electric had a return on equity of 20.47% and a net margin of 9.94%. The firm’s revenue was up 12.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.74 EPS. sell-side analysts predict that Emerson Electric Company will post 2.92 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 11th. Stockholders of record on Friday, November 17th were paid a $0.485 dividend. 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. The ex-dividend date was Thursday, November 16th. Emerson Electric’s payout ratio is currently 82.55%.
A number of equities research analysts recently weighed in on the company. BidaskClub lowered Emerson Electric from a “sell” rating to a “strong sell” rating in a research report on Friday, August 18th. Cowen restated a “buy” rating and set a $72.00 price objective on shares of Emerson Electric in a research report on Wednesday, December 6th. Goldman Sachs Group restated a “neutral” rating and set a $66.00 price objective on shares of Emerson Electric in a research report on Friday, December 8th. Stifel Nicolaus restated a “buy” rating and set a $75.00 price objective on shares of Emerson Electric in a research report on Monday, December 11th. Finally, Zacks Investment Research upgraded Emerson Electric from a “sell” rating to a “hold” rating in a research report on Tuesday, October 31st. Three equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and four have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $65.86.
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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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