SOL Capital Management CO cut its position in shares of Emerson Electric Company (NYSE:EMR) by 3.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,548 shares of the industrial products company’s stock after selling 120 shares during the period. SOL Capital Management CO’s holdings in Emerson Electric were worth $212,000 at the end of the most recent reporting period.
Several other hedge funds have also made changes to their positions in EMR. Oxbow Advisors LLC raised its stake in shares of Emerson Electric by 1.5% in the second quarter. Oxbow Advisors LLC now owns 21,617 shares of the industrial products company’s stock worth $1,289,000 after buying an additional 316 shares during the period. Delta Asset Management LLC TN raised its stake in shares of Emerson Electric by 2.2% in the second quarter. Delta Asset Management LLC TN now owns 103,084 shares of the industrial products company’s stock worth $6,146,000 after buying an additional 2,201 shares during the period. Bridges Investment Counsel Inc. raised its stake in shares of Emerson Electric by 6.8% in the second quarter. Bridges Investment Counsel Inc. now owns 15,750 shares of the industrial products company’s stock worth $940,000 after buying an additional 1,000 shares during the period. APG Asset Management N.V. boosted its position in Emerson Electric by 5.5% in the second quarter. APG Asset Management N.V. now owns 3,537,819 shares of the industrial products company’s stock valued at $210,925,000 after buying an additional 185,300 shares in the last quarter. Finally, Murphy Capital Management Inc. boosted its position in Emerson Electric by 9.5% in the second quarter. Murphy Capital Management Inc. now owns 14,947 shares of the industrial products company’s stock valued at $891,000 after buying an additional 1,292 shares in the last quarter. Institutional investors own 69.42% of the company’s stock.
Shares of Emerson Electric Company (NYSE:EMR) traded up 0.10% during trading on Friday, reaching $58.35. The company’s stock had a trading volume of 1,222,274 shares. The firm has a market cap of $37.35 billion, a PE ratio of 26.04 and a beta of 1.20. The company’s 50 day moving average price is $59.86 and its 200 day moving average price is $59.82. Emerson Electric Company has a 12 month low of $49.22 and a 12 month high of $64.36.
Emerson Electric (NYSE:EMR) last issued its quarterly earnings results on Tuesday, August 1st. The industrial products company reported $0.68 earnings per share for the quarter, meeting the consensus estimate of $0.68. The company had revenue of $4.04 billion during the quarter, compared to analysts’ expectations of $3.99 billion. Emerson Electric had a return on equity of 22.32% and a net margin of 8.89%. The business’s quarterly revenue was up 9.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.68 earnings per share. On average, equities analysts predict that Emerson Electric Company will post $2.61 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, September 11th. Stockholders of record on Friday, August 11th will be paid a $0.48 dividend. The ex-dividend date of this dividend is Wednesday, August 9th. This represents a $1.92 annualized dividend and a dividend yield of 3.29%. Emerson Electric’s payout ratio is 85.33%.
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Several research firms recently issued reports on EMR. JMP Securities began coverage on Emerson Electric in a report on Monday, June 19th. They issued an “outperform” rating and a $70.00 price target on the stock. Cowen and Company reiterated a “hold” rating and issued a $62.00 price target on shares of Emerson Electric in a report on Tuesday, May 2nd. BidaskClub upgraded Emerson Electric from a “sell” rating to a “hold” rating in a report on Friday, June 16th. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $62.00 price target (up previously from $61.00) on shares of Emerson Electric in a report on Wednesday, August 2nd. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $68.00 price target on shares of Emerson Electric in a report on Wednesday, July 19th. Three equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and three have issued a buy rating to the stock. Emerson Electric presently has a consensus rating of “Hold” and an average price target of $58.14.
Emerson Electric Company Profile
Emerson Electric Co is a diversified global manufacturing company, which provides solutions to customers by bringing technology and engineering together in the industrial, commercial and consumer markets around the world. The Company operates through four segments based on the nature of the products and services rendered: Process Management, Industrial Automation, Climate Technologies and Commercial & Residential Solutions.
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