Miles Capital Inc. Sells 93 Shares of Emerson Electric Company (EMR)
Miles Capital Inc. decreased its position in Emerson Electric Company (NYSE:EMR) by 0.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 17,801 shares of the industrial products company’s stock after selling 93 shares during the period. Miles Capital Inc.’s holdings in Emerson Electric were worth $1,061,000 at the end of the most recent quarter.
Other institutional investors have also recently bought and sold shares of the company. Oppenheimer Asset Management Inc. bought a new position in Emerson Electric in the first quarter valued at about $127,000. AT Bancorp acquired a new position in Emerson Electric in the second quarter valued at about $139,000. Harbour Capital Advisors LLC acquired a new position in Emerson Electric in the first quarter valued at about $147,000. Guardian Life Insurance Co. of America lifted its stake in Emerson Electric by 1.1% in the first 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 acquired a new position in Emerson Electric in the second quarter valued at about $150,000. Institutional investors and hedge funds own 69.35% of the company’s stock.
In other news, insider Robert T. Sharp sold 2,000 shares of the firm’s stock in a transaction dated Thursday, August 31st. The stock was sold at an average price of $58.99, for a total transaction of $117,980.00. Following the sale, the insider now owns 64,290 shares of the company’s stock, valued at $3,792,467.10. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 0.79% of the company’s stock.
Shares of Emerson Electric Company (NYSE:EMR) opened at $62.06 on Friday. The company has a market capitalization of $39,715.81, a PE ratio of 23.98, a PEG ratio of 2.92 and a beta of 1.24. The company has a current ratio of 1.64, a quick ratio of 1.30 and a debt-to-equity ratio of 0.43. Emerson Electric Company has a 1 year low of $53.92 and a 1 year high of $67.79.
Emerson Electric (NYSE:EMR) last released its quarterly earnings results on Tuesday, November 7th. The industrial products company reported $0.83 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.83. The company had revenue of $4.44 billion for the quarter, compared to analyst estimates of $4.43 billion. Emerson Electric had a return on equity of 20.47% and a net margin of 9.94%. Emerson Electric’s revenue was up 12.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.74 earnings per share. research analysts forecast that Emerson Electric Company will post 2.91 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, December 11th. Stockholders of record on Friday, November 17th will be given a dividend of $0.485 per share. The ex-dividend date of this dividend is Thursday, November 16th. This represents a $1.94 dividend on an annualized basis and a dividend yield of 3.13%. This is a positive change from Emerson Electric’s previous quarterly dividend of $0.48. Emerson Electric’s dividend payout ratio (DPR) is currently 82.55%.
EMR has been the topic of several analyst reports. Cowen Inc raised Emerson Electric to a “buy” rating and set a $71.00 target price on the stock in a research note on Monday, October 23rd. Bank of America Corporation raised Emerson Electric from a “neutral” rating to a “buy” rating and increased their target price for the company from $64.44 to $79.00 in a research note on Tuesday, October 17th. Stifel Nicolaus reissued a “buy” rating on shares of Emerson Electric in a research note on Thursday, October 12th. Morgan Stanley reissued an “equal weight” rating and issued a $67.00 target price (up previously from $64.00) on shares of Emerson Electric in a research note on Monday, October 2nd. Finally, Zacks Investment Research raised Emerson Electric from a “sell” rating to a “hold” rating in a research note on Tuesday, October 31st. Three analysts have rated the stock with a sell rating, thirteen have issued a hold rating and three have given a buy rating to the stock. Emerson Electric presently has an average rating of “Hold” and an average target price of $65.14.
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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