Huntington National Bank Reduces Position in Emerson Electric Company (EMR)
Huntington National Bank cut its position in shares of Emerson Electric Company (NYSE:EMR) by 1.0% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 410,972 shares of the industrial products company’s stock after selling 4,172 shares during the period. Huntington National Bank’s holdings in Emerson Electric were worth $24,502,000 as of its most recent SEC filing.
Other large investors also recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of 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 worth $2,615,777,000 after buying an additional 2,404,844 shares during the period. Prudential Financial Inc. boosted its stake in shares of 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 worth $177,372,000 after buying an additional 1,706,810 shares during the period. American Century Companies Inc. boosted its stake in shares of 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 worth $259,724,000 after buying an additional 705,924 shares during the period. Bank of Nova Scotia boosted its stake in shares of Emerson Electric by 3,745.5% in the first quarter. Bank of Nova Scotia now owns 561,400 shares of the industrial products company’s stock worth $33,771,000 after buying an additional 546,801 shares during the period. Finally, UBS Asset Management Americas Inc. boosted its stake in shares of 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 worth $144,770,000 after buying an additional 540,927 shares during the period. 69.42% of the stock is owned by hedge funds and other institutional investors.
Emerson Electric Company (NYSE EMR) traded up 0.25% on Wednesday, reaching $59.56. 893,420 shares of the company traded hands. The company has a market capitalization of $38.12 billion, a P/E ratio of 26.58 and a beta of 1.20. Emerson Electric Company has a 12 month low of $49.22 and a 12 month high of $64.36. The company has a 50-day moving average price of $59.86 and a 200-day moving average price of $59.83.
Emerson Electric (NYSE:EMR) last released its quarterly earnings results on Tuesday, August 1st. The industrial products company reported $0.68 EPS for the quarter, hitting analysts’ consensus estimates of $0.68. Emerson Electric had a net margin of 8.89% and a return on equity of 22.32%. The company had revenue of $4.04 billion for the quarter, compared to the consensus estimate of $3.99 billion. During the same period in the previous year, the firm earned $0.68 EPS. Emerson Electric’s revenue was up 9.9% on a year-over-year basis. Equities research analysts expect that Emerson Electric Company will post $2.61 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, September 11th. Shareholders of record on Friday, August 11th will be given a dividend of $0.48 per share. The ex-dividend date of this dividend is Wednesday, August 9th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 3.23%. Emerson Electric’s dividend payout ratio (DPR) is 85.33%.
A number of equities research analysts recently weighed in on EMR shares. TheStreet raised shares of Emerson Electric from a “c+” rating to a “b” rating in a research report on Thursday, May 4th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $67.00 target price (up from $65.00) on shares of Emerson Electric in a report on Monday, May 15th. Zacks Investment Research cut shares of Emerson Electric from a “buy” rating to a “hold” rating in a report on Friday, May 5th. JMP Securities started coverage on shares of Emerson Electric in a report on Monday, June 19th. They issued an “outperform” rating and a $70.00 target price for the company. Finally, Morgan Stanley reaffirmed an “overweight” rating on shares of Emerson Electric in a report on Tuesday, July 11th. Three equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and three have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $58.14.
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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