Whitener Capital Management Inc. raised its stake in Emerson Electric Co. (NYSE:EMR) by 5.5% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,580 shares of the industrial products company’s stock after purchasing an additional 500 shares during the period. Whitener Capital Management Inc.’s holdings in Emerson Electric were worth $639,000 as of its most recent SEC filing.
Other institutional investors also recently modified their holdings of the company. Glassman Wealth Services boosted its holdings in Emerson Electric by 240.7% in the 1st quarter. Glassman Wealth Services now owns 402 shares of the industrial products company’s stock valued at $28,000 after purchasing an additional 284 shares during the period. Larson Financial Group LLC boosted its holdings in Emerson Electric by 80.3% in the 2nd quarter. Larson Financial Group LLC now owns 440 shares of the industrial products company’s stock valued at $29,000 after purchasing an additional 196 shares during the period. Harel Insurance Investments & Financial Services Ltd. bought a new stake in Emerson Electric in the 1st quarter valued at $34,000. Westside Investment Management Inc. bought a new stake in Emerson Electric in the 2nd quarter valued at $34,000. Finally, Buffington Mohr McNeal bought a new stake in Emerson Electric in the 1st quarter valued at $41,000. 70.30% of the stock is owned by hedge funds and other institutional investors.
A number of equities analysts have recently issued reports on the stock. Credit Suisse Group dropped their price objective on shares of Emerson Electric from $74.00 to $70.00 and set an “outperform” rating for the company in a research note on Wednesday, August 7th. Deutsche Bank dropped their price objective on shares of Emerson Electric from $74.00 to $73.00 and set a “buy” rating for the company in a research note on Monday, August 5th. Citigroup dropped their price objective on shares of Emerson Electric from $79.00 to $77.00 and set a “buy” rating for the company in a research note on Tuesday, July 30th. Cowen restated a “buy” rating and issued a $72.00 price objective on shares of Emerson Electric in a research note on Friday, August 9th. Finally, Zacks Investment Research cut shares of Emerson Electric from a “hold” rating to a “sell” rating and set a $69.00 price objective for the company. in a research note on Tuesday, July 23rd. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have given a buy rating to the stock. Emerson Electric presently has an average rating of “Hold” and an average target price of $72.71.
Shares of Emerson Electric stock traded up $1.51 during mid-day trading on Friday, reaching $57.92. 3,325,700 shares of the stock were exchanged, compared to its average volume of 3,364,116. The company has a market cap of $35.63 billion, a price-to-earnings ratio of 17.14, a price-to-earnings-growth ratio of 1.92 and a beta of 1.32. The company has a current ratio of 1.18, a quick ratio of 0.85 and a debt-to-equity ratio of 0.49. The firm has a 50-day simple moving average of $63.90 and a 200 day simple moving average of $66.41. Emerson Electric Co. has a fifty-two week low of $55.38 and a fifty-two week high of $79.70.
Emerson Electric (NYSE:EMR) last announced its earnings results on Tuesday, August 6th. The industrial products company reported $0.94 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.94. The business had revenue of $4.68 billion during the quarter, compared to analysts’ expectations of $4.82 billion. Emerson Electric had a net margin of 12.06% and a return on equity of 24.67%. The firm’s revenue for the quarter was up 5.1% on a year-over-year basis. During the same quarter last year, the company posted $1.12 EPS. On average, research analysts predict that Emerson Electric Co. will post 3.64 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Friday, August 16th will be given a $0.49 dividend. This represents a $1.96 annualized dividend and a yield of 3.38%. The ex-dividend date is Thursday, August 15th. Emerson Electric’s payout ratio is presently 57.99%.
In other Emerson Electric news, insider Michael H. Train sold 12,278 shares of the firm’s stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $63.80, for a total value of $783,336.40. Following the completion of the sale, the insider now owns 129,298 shares in the company, valued at approximately $8,249,212.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Bell Katherine Button sold 15,791 shares of the firm’s stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $63.91, for a total transaction of $1,009,202.81. Following the completion of the sale, the vice president now owns 30,304 shares of the company’s stock, valued at approximately $1,936,728.64. The disclosure for this sale can be found here. Insiders sold a total of 40,333 shares of company stock valued at $2,583,230 in the last 90 days. Corporate insiders own 0.07% of the company’s stock.
Emerson Electric Profile
Emerson Electric Co, a technology and engineering company, provides various solutions to industrial, commercial, and consumer markets worldwide. The company's Automation Solutions segment offers products and integrated solutions, including measurement and analytical instrumentation; valves, actuators, and regulators; industrial solutions; and process control systems and solutions.
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