Canandaigua National Bank & Trust Co. lowered its position in Emerson Electric Co. (NYSE:EMR) by 7.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 16,113 shares of the industrial products company’s stock after selling 1,266 shares during the quarter. Canandaigua National Bank & Trust Co.’s holdings in Emerson Electric were worth $1,234,000 as of its most recent SEC filing.
Other hedge funds have also recently made changes to their positions in the company. Bay Colony Advisory Group Inc d b a Bay Colony Advisors bought a new position in shares of Emerson Electric during the 2nd quarter worth approximately $102,000. Kiley Juergens Wealth Management LLC bought a new position in shares of Emerson Electric during the 2nd quarter worth approximately $105,000. Kaizen Advisory LLC lifted its position in shares of Emerson Electric by 151.1% during the 2nd quarter. Kaizen Advisory LLC now owns 1,539 shares of the industrial products company’s stock worth $106,000 after buying an additional 926 shares during the period. Tradewinds Capital Management LLC lifted its position in shares of Emerson Electric by 584.1% during the 3rd quarter. Tradewinds Capital Management LLC now owns 1,416 shares of the industrial products company’s stock worth $108,000 after buying an additional 1,209 shares during the period. Finally, FNY Investment Advisers LLC bought a new position in shares of Emerson Electric during the 2nd quarter worth approximately $113,000. Institutional investors own 70.33% of the company’s stock.
Several research firms recently commented on EMR. Bank of America raised their target price on Emerson Electric from $82.00 to $90.00 and gave the stock a “buy” rating in a research report on Thursday, October 4th. Cowen restated a “buy” rating and set a $81.00 target price on shares of Emerson Electric in a research report on Wednesday, September 19th. Zacks Investment Research upgraded Emerson Electric from a “hold” rating to a “buy” rating and set a $88.00 target price for the company in a research report on Thursday, October 4th. Barclays raised their target price on Emerson Electric from $85.00 to $88.00 and gave the stock an “overweight” rating in a research report on Monday, September 24th. Finally, UBS Group raised their target price on Emerson Electric from $85.00 to $90.00 and gave the stock a “buy” rating in a research report on Thursday, August 30th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and thirteen have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $78.67.
In other Emerson Electric news, President Edward L. Monser sold 60,000 shares of Emerson Electric stock in a transaction on Monday, September 10th. The stock was sold at an average price of $76.10, for a total value of $4,566,000.00. Following the completion of the transaction, the president now owns 176,477 shares in the company, valued at approximately $13,429,899.70. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Steven J. Pelch sold 6,409 shares of Emerson Electric stock in a transaction on Tuesday, August 14th. The shares were sold at an average price of $74.24, for a total value of $475,804.16. The disclosure for this sale can be found here. In the last quarter, insiders sold 96,409 shares of company stock valued at $7,317,004. Corporate insiders own 0.84% of the company’s stock.
Shares of EMR opened at $70.53 on Wednesday. The company has a quick ratio of 0.97, a current ratio of 1.23 and a debt-to-equity ratio of 0.37. Emerson Electric Co. has a 52-week low of $57.47 and a 52-week high of $79.70. The firm has a market capitalization of $43.75 billion, a price-to-earnings ratio of 22.83, a price-to-earnings-growth ratio of 1.82 and a beta of 1.20.
Emerson Electric (NYSE:EMR) last issued its quarterly earnings data on Tuesday, November 6th. The industrial products company reported $0.89 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ 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 business had revenue of $4.89 billion during the quarter, compared to the consensus estimate of $4.91 billion. During the same quarter in the previous year, the firm posted $0.83 EPS. The company’s revenue for the quarter was up 10.2% compared to the same quarter last year. On average, equities research analysts forecast that Emerson Electric Co. will post 3.19 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 10th. Shareholders of record on Friday, November 16th will be given a $0.49 dividend. This is an increase from Emerson Electric’s previous quarterly dividend of $0.49. This represents a $1.96 annualized dividend and a yield of 2.78%. Emerson Electric’s payout ratio is presently 73.48%.
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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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