Prio Wealth Limited Partnership decreased its position in Emerson Electric Co. (NYSE:EMR) by 2.7% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 254,746 shares of the industrial products company’s stock after selling 7,175 shares during the quarter. Prio Wealth Limited Partnership’s holdings in Emerson Electric were worth $17,613,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Boston Common Asset Management LLC increased its position in shares of Emerson Electric by 165.6% during the second quarter. Boston Common Asset Management LLC now owns 106,168 shares of the industrial products company’s stock worth $7,340,000 after acquiring an additional 66,190 shares during the period. Teacher Retirement System of Texas increased its position in shares of Emerson Electric by 3.1% during the second quarter. Teacher Retirement System of Texas now owns 146,517 shares of the industrial products company’s stock worth $10,130,000 after acquiring an additional 4,418 shares during the period. Cypress Wealth Services LLC increased its position in shares of Emerson Electric by 45.6% during the second quarter. Cypress Wealth Services LLC now owns 5,114 shares of the industrial products company’s stock worth $354,000 after acquiring an additional 1,602 shares during the period. Signition LP purchased a new stake in shares of Emerson Electric during the second quarter worth $433,000. Finally, Cambridge Trust Co. increased its position in shares of Emerson Electric by 2.4% during the second quarter. Cambridge Trust Co. now owns 185,867 shares of the industrial products company’s stock worth $12,851,000 after acquiring an additional 4,411 shares during the period. 69.80% of the stock is currently owned by institutional investors.
Shares of Emerson Electric opened at $73.86 on Friday, MarketBeat Ratings reports. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.23 and a quick ratio of 0.98. The firm has a market cap of $46.54 billion, a P/E ratio of 24.28, a PEG ratio of 2.17 and a beta of 1.13. Emerson Electric Co. has a 12 month low of $57.47 and a 12 month high of $75.25.
Emerson Electric (NYSE:EMR) last issued its earnings results on Tuesday, August 7th. The industrial products company reported $0.88 EPS for the quarter, topping analysts’ consensus estimates of $0.86 by $0.02. The firm had revenue of $4.46 billion during the quarter, compared to the consensus estimate of $4.47 billion. Emerson Electric had a net margin of 12.33% and a return on equity of 22.83%. The company’s revenue was up 10.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.68 earnings per share. sell-side analysts anticipate that Emerson Electric Co. will post 3.22 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, September 10th. Investors of record on Friday, August 17th will be paid a dividend of $0.485 per share. The ex-dividend date is Thursday, August 16th. This represents a $1.94 dividend on an annualized basis and a dividend yield of 2.63%. Emerson Electric’s payout ratio is currently 73.48%.
A number of analysts have recently weighed in on EMR shares. JPMorgan Chase & Co. upped their price objective on Emerson Electric from $79.00 to $82.00 and gave the stock an “overweight” rating in a research report on Friday. Zacks Investment Research lowered Emerson Electric from a “buy” rating to a “hold” rating in a research report on Monday, July 16th. ValuEngine raised Emerson Electric from a “hold” rating to a “buy” rating in a research report on Monday, July 2nd. Cowen reaffirmed a “buy” rating and set a $78.00 price objective on shares of Emerson Electric in a research report on Wednesday, April 18th. Finally, Deutsche Bank set a $81.00 price objective on Emerson Electric and gave the stock a “buy” rating in a research report on Thursday, July 12th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and eleven have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $74.94.
In related news, insider Michael H. Train sold 24,166 shares of the business’s stock in a transaction on Monday, June 18th. The shares were sold at an average price of $71.46, for a total transaction of $1,726,902.36. Following the completion of the transaction, the insider now owns 121,626 shares in the company, valued at $8,691,393.96. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.79% of the company’s stock.
Emerson Electric Profile
Emerson Electric Co, a technology and engineering company, provides various solutions to industrial, commercial, and residential markets worldwide. The company's Automation Solutions segment offers software; measurement and analytical instrumentation; valves, actuators, and regulators; industry services and solutions; process control systems and solutions; and digital plant solutions.
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