Smith Salley & Associates cut its stake in shares of Emerson Electric Co. (NYSE:EMR) by 6.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 58,546 shares of the industrial products company’s stock after selling 3,746 shares during the period. Smith Salley & Associates’ holdings in Emerson Electric were worth $4,483,000 as of its most recent SEC filing.
Several other institutional investors also recently made changes to their positions in EMR. First PREMIER Bank lifted its holdings in Emerson Electric by 1.9% during the third quarter. First PREMIER Bank now owns 36,665 shares of the industrial products company’s stock worth $2,807,000 after acquiring an additional 684 shares in the last quarter. Windward Capital Management Co. CA lifted its holdings in Emerson Electric by 2.3% during the third quarter. Windward Capital Management Co. CA now owns 31,021 shares of the industrial products company’s stock worth $2,376,000 after acquiring an additional 688 shares in the last quarter. Courier Capital LLC lifted its holdings in Emerson Electric by 3.3% during the second quarter. Courier Capital LLC now owns 22,555 shares of the industrial products company’s stock worth $1,559,000 after acquiring an additional 718 shares in the last quarter. Truvestments Capital LLC lifted its holdings in Emerson Electric by 6.4% during the third quarter. Truvestments Capital LLC now owns 12,013 shares of the industrial products company’s stock worth $920,000 after acquiring an additional 726 shares in the last quarter. Finally, Orca Investment Management LLC lifted its holdings in Emerson Electric by 15.3% during the second quarter. Orca Investment Management LLC now owns 5,502 shares of the industrial products company’s stock worth $380,000 after acquiring an additional 732 shares in the last quarter. 70.33% of the stock is owned by institutional investors and hedge funds.
In related news, VP Steven J. Pelch sold 6,409 shares of the company’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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, President Edward L. Monser sold 30,000 shares of the company’s stock in a transaction dated Friday, September 7th. The stock was sold at an average price of $75.84, for a total value of $2,275,200.00. Following the sale, the president now owns 176,477 shares in the company, valued at approximately $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 in the last quarter. 0.79% of the stock is currently owned by corporate insiders.
Several research analysts have weighed in on the company. Bank of America lifted their target price on Emerson Electric from $82.00 to $90.00 and gave the stock a “buy” rating in a report on Thursday, October 4th. Cowen reiterated a “buy” rating and set a $81.00 target price on shares of Emerson Electric in a 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 on the stock in a report on Thursday, October 4th. Barclays boosted their price target on Emerson Electric from $85.00 to $88.00 and gave the company an “overweight” rating in a report on Monday, September 24th. Finally, UBS Group boosted their price target on Emerson Electric from $85.00 to $90.00 and gave the company a “buy” rating in a report on Thursday, August 30th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and thirteen have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $78.30.
Shares of Emerson Electric stock opened at $68.49 on Friday. The stock has a market capitalization of $43.91 billion, a PE ratio of 22.47, a PEG ratio of 2.11 and a beta of 1.20. Emerson Electric Co. has a one year low of $57.47 and a one year high of $79.70. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.97 and a current ratio of 1.07.
Emerson Electric (NYSE:EMR) last released its 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 return on equity of 23.06% and a net margin of 12.65%. The company had revenue of $4.89 billion for the quarter, compared to the consensus estimate of $4.91 billion. During the same quarter in the previous year, the company posted $0.83 EPS. The business’s revenue was up 10.2% on a year-over-year basis. Analysts predict that Emerson Electric Co. will post 3.69 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, December 10th. Investors of record on Friday, November 16th will be issued a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a yield of 2.86%. The ex-dividend date of this dividend is Thursday, November 15th. This is a positive change from Emerson Electric’s previous quarterly dividend of $0.49. Emerson Electric’s dividend payout ratio is presently 57.40%.
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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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