Northern Trust Corp Sells 29,590 Shares of Emerson Electric Company (EMR)
Northern Trust Corp lessened its position in shares of Emerson Electric Company (NYSE:EMR) by 0.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,498,766 shares of the industrial products company’s stock after selling 29,590 shares during the period. Northern Trust Corp owned 1.48% of Emerson Electric worth $566,315,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Oppenheimer Asset Management Inc. bought a new stake in shares of Emerson Electric during the 1st quarter valued at $127,000. AT Bancorp bought a new stake in shares of Emerson Electric during the 2nd quarter valued at $139,000. Harbour Capital Advisors LLC bought a new stake in shares of Emerson Electric during the 1st quarter valued at $147,000. Guardian Life Insurance Co. of America raised its stake in shares of 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 purchasing an additional 28 shares during the period. Finally, Perkins Coie Trust Co bought a new stake in shares of Emerson Electric during the 2nd quarter valued at $150,000. 70.18% of the stock is currently owned by hedge funds and other institutional investors.
A number of analysts recently issued reports on the company. Edward Jones lowered Emerson Electric from a “buy” rating to a “hold” rating in a research note on Friday. BidaskClub lowered Emerson Electric from a “sell” rating to a “strong sell” rating in a research note on Friday, August 18th. Cowen and Company lowered Emerson Electric from an “outperform” rating to a “market perform” rating in a research note on Thursday. Zacks Investment Research upgraded Emerson Electric from a “sell” rating to a “hold” rating in a research note on Tuesday, October 31st. Finally, Stifel Nicolaus restated a “buy” rating and issued a $72.00 target price (up from $68.00) on shares of Emerson Electric in a research note on Thursday, November 9th. Three research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and three have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $65.14.
In related news, insider Robert T. Sharp sold 2,000 shares of the 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 completion of the sale, 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 Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.79% of the company’s stock.
Shares of Emerson Electric Company (NYSE EMR) opened at $59.85 on Friday. The firm has a market capitalization of $37,770.00, a PE ratio of 23.54, a P/E/G ratio of 2.77 and a beta of 1.24. Emerson Electric Company has a fifty-two week low of $53.92 and a fifty-two week high of $67.79. 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 (NYSE:EMR) last issued its earnings results on Tuesday, November 7th. The industrial products company reported $0.83 earnings per share for the quarter, meeting the consensus estimate of $0.83. The company had revenue of $4.44 billion during the quarter, compared to analysts’ expectations of $4.43 billion. Emerson Electric had a return on equity of 20.47% and a net margin of 9.94%. Emerson Electric’s quarterly revenue was up 12.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.74 EPS. equities analysts predict that Emerson Electric Company will post 2.9 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, December 11th. Investors of record on Friday, November 17th will be issued a dividend of $0.485 per share. The ex-dividend date is Thursday, November 16th. This is a boost from Emerson Electric’s previous quarterly dividend of $0.48. This represents a $1.94 annualized dividend and a yield of 3.24%. Emerson Electric’s dividend payout ratio is currently 75.00%.
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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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