Emerson Electric Co. (EMR) Shares Sold by Evercore Wealth Management LLC

Evercore Wealth Management LLC lessened its stake in shares of Emerson Electric Co. (NYSE:EMR) by 4.4% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 48,930 shares of the industrial products company’s stock after selling 2,246 shares during the period. Evercore Wealth Management LLC’s holdings in Emerson Electric were worth $3,747,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of EMR. King Luther Capital Management Corp raised its stake in Emerson Electric by 8.1% in the third quarter. King Luther Capital Management Corp now owns 1,479,120 shares of the industrial products company’s stock worth $113,271,000 after buying an additional 110,669 shares in the last quarter. Tocqueville Asset Management L.P. increased its position in shares of Emerson Electric by 0.4% during the third quarter. Tocqueville Asset Management L.P. now owns 240,450 shares of the industrial products company’s stock worth $18,414,000 after purchasing an additional 900 shares in the last quarter. Plancorp LLC increased its position in shares of Emerson Electric by 0.9% during the third quarter. Plancorp LLC now owns 289,167 shares of the industrial products company’s stock worth $22,144,000 after purchasing an additional 2,493 shares in the last quarter. Invictus RG acquired a new position in shares of Emerson Electric during the third quarter worth $386,000. Finally, WEALTHFRONT Corp increased its position in shares of Emerson Electric by 5.5% during the third quarter. WEALTHFRONT Corp now owns 20,556 shares of the industrial products company’s stock worth $1,574,000 after purchasing an additional 1,063 shares in the last quarter. 70.55% of the stock is owned by hedge funds and other institutional investors.

In other Emerson Electric news, insider Surendralal Lanca Karsanbhai sold 9,070 shares of the company’s stock in a transaction on Wednesday, November 28th. The shares were sold at an average price of $68.00, for a total value of $616,760.00. Following the sale, the insider now directly owns 20,000 shares of the company’s stock, valued at $1,360,000. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, President Edward L. Monser sold 60,000 shares of the company’s stock in a transaction on Monday, September 10th. The shares were sold at an average price of $76.10, for a total transaction of $4,566,000.00. Following the completion of the sale, the president now directly owns 176,477 shares in the company, valued at $13,429,899.70. The disclosure for this sale can be found here. 0.79% of the stock is owned by insiders.

Shares of EMR opened at $63.79 on Friday. The firm has a market cap of $41.11 billion, a PE ratio of 18.87, a P/E/G ratio of 2.01 and a beta of 1.21. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.78 and a current ratio of 1.07. Emerson Electric Co. has a 1-year low of $62.04 and a 1-year high of $79.70.

Emerson Electric (NYSE:EMR) last announced its quarterly earnings data on Tuesday, November 6th. The industrial products company reported $0.89 earnings per share for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.03). The company had revenue of $4.89 billion for the quarter, compared to analysts’ expectations of $4.91 billion. Emerson Electric had a net margin of 12.65% and a return on equity of 23.06%. Emerson Electric’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same period last year, the firm earned $0.83 earnings per share. Sell-side analysts anticipate that Emerson Electric Co. will post 3.68 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 10th. Stockholders of record on Friday, November 16th will be issued a dividend of $0.49 per share. 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. This represents a $1.96 dividend on an annualized basis and a dividend yield of 3.07%. Emerson Electric’s payout ratio is 57.99%.

A number of equities analysts have recently issued reports on the company. Zacks Investment Research downgraded Emerson Electric from a “hold” rating to a “sell” rating in a research report on Tuesday, November 13th. Cowen reaffirmed a “buy” rating and set a $81.00 price target on shares of Emerson Electric in a research report on Wednesday, September 19th. Stephens assumed coverage on Emerson Electric in a research report on Monday, November 19th. They set an “overweight” rating and a $80.00 price target on the stock. Robert W. Baird reduced their price target on Emerson Electric from $80.00 to $78.00 and set a “neutral” rating on the stock in a research report on Monday, November 12th. Finally, Berenberg Bank set a $67.00 price target on Emerson Electric and gave the stock a “hold” rating in a research report on Monday, November 19th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and fourteen have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $78.39.

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About Emerson Electric

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.

See Also: Ex-Dividend

Institutional Ownership by Quarter for Emerson Electric (NYSE:EMR)

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