American Century Companies Inc. lowered its stake in Emerson Electric Co. (NYSE:EMR) by 22.4% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,566,708 shares of the industrial products company’s stock after selling 1,028,143 shares during the period. American Century Companies Inc. owned approximately 0.57% of Emerson Electric worth $273,138,000 as of its most recent SEC filing.
Several other large investors also recently made changes to their positions in the business. Oakwood Capital Management LLC CA lifted its position in shares of Emerson Electric by 1.7% in the third quarter. Oakwood Capital Management LLC CA now owns 49,115 shares of the industrial products company’s stock worth $3,761,000 after buying an additional 830 shares during the last quarter. HL Financial Services LLC lifted its position in shares of Emerson Electric by 5.6% in the third quarter. HL Financial Services LLC now owns 292,607 shares of the industrial products company’s stock worth $22,408,000 after buying an additional 15,457 shares during the last quarter. John G Ullman & Associates Inc. lifted its position in shares of Emerson Electric by 1.2% in the third quarter. John G Ullman & Associates Inc. now owns 423,441 shares of the industrial products company’s stock worth $32,427,000 after buying an additional 5,105 shares during the last quarter. Smith Asset Management Group LP lifted its position in shares of Emerson Electric by 33.6% in the third quarter. Smith Asset Management Group LP now owns 515,107 shares of the industrial products company’s stock worth $39,475,000 after buying an additional 129,635 shares during the last quarter. Finally, Meeder Asset Management Inc. lifted its position in shares of Emerson Electric by 143.3% in the third quarter. Meeder Asset Management Inc. now owns 28,473 shares of the industrial products company’s stock worth $2,180,000 after buying an additional 16,772 shares during the last quarter. 70.33% of the stock is owned by institutional investors.
Shares of EMR opened at $70.53 on Wednesday. Emerson Electric Co. has a 12-month low of $57.47 and a 12-month high of $79.70. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.97 and a current ratio of 1.23. The stock has a market cap of $43.75 billion, a P/E ratio of 26.72, a PEG ratio of 1.82 and a beta of 1.20.
Emerson Electric (NYSE:EMR) last issued its quarterly earnings results on Tuesday, November 6th. The industrial products company reported $0.89 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.92 by ($0.03). Emerson Electric had a net margin of 12.33% and a return on equity of 22.83%. The firm had revenue of $4.89 billion for the quarter, compared to the consensus estimate of $4.91 billion. During the same quarter in the prior year, the firm earned $0.83 earnings per share. The company’s revenue was up 10.2% on a year-over-year basis. Analysts anticipate that Emerson Electric Co. will post 3.19 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, December 10th. Investors of record on Friday, November 16th will be paid a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a yield of 2.78%. This is a positive change from Emerson Electric’s previous quarterly dividend of $0.49. Emerson Electric’s payout ratio is currently 73.48%.
EMR has been the topic of a number of recent analyst reports. Cowen reiterated a “buy” rating and issued a $81.00 price objective on shares of Emerson Electric in a research note on Tuesday. Credit Suisse Group initiated coverage on Emerson Electric in a research note on Friday, October 12th. They issued a “neutral” rating and a $78.00 price objective on the stock. Gordon Haskett initiated coverage on Emerson Electric in a research note on Friday, October 12th. They issued a “buy” rating on the stock. Zacks Investment Research lowered Emerson Electric from a “buy” rating to a “hold” rating in a research note on Friday, October 5th. Finally, Bank of America lifted their price objective on Emerson Electric from $82.00 to $90.00 and gave the stock a “buy” rating in a research note on Thursday, October 4th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and thirteen have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $78.67.
In related news, VP Steven J. Pelch sold 6,409 shares of the business’s stock in a transaction dated Tuesday, August 14th. The stock was sold at an average price of $74.24, for a total transaction of $475,804.16. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, President Edward L. Monser sold 30,000 shares of the business’s stock in a transaction dated Friday, September 7th. The shares were sold at an average price of $75.84, for a total value of $2,275,200.00. Following the transaction, the president now owns 176,477 shares in the company, valued at $13,384,015.68. The disclosure for this sale can be found here. Insiders have sold 96,409 shares of company stock worth $7,317,004 over the last 90 days. Corporate insiders own 0.84% of the company’s stock.
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Emerson Electric Company 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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