Emerson Electric Company (EMR) Stake Lowered by King Luther Capital Management Corp

King Luther Capital Management Corp reduced its stake in Emerson Electric Company (NYSE:EMR) by 10.1% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 447,885 shares of the industrial products company’s stock after selling 50,532 shares during the quarter. King Luther Capital Management Corp’s holdings in Emerson Electric were worth $28,145,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Tower Research Capital LLC TRC acquired a new stake in Emerson Electric during the 2nd quarter worth approximately $109,000. Intellectus Partners LLC lifted its holdings in Emerson Electric by 0.3% during the 2nd quarter. Intellectus Partners LLC now owns 2,094 shares of the industrial products company’s stock worth $125,000 after buying an additional 7 shares in the last quarter. Mountain Capital Investment Advisors Inc acquired a new stake in Emerson Electric during the 2nd quarter worth approximately $129,000. AT Bancorp acquired a new stake in Emerson Electric during the 2nd quarter worth approximately $139,000. Finally, Perkins Coie Trust Co acquired a new stake in Emerson Electric during the 2nd quarter worth approximately $150,000. Hedge funds and other institutional investors own 69.18% of the company’s stock.

Shares of Emerson Electric Company (NYSE:EMR) opened at $72.32 on Wednesday. Emerson Electric Company has a fifty-two week low of $56.00 and a fifty-two week high of $72.59. The firm has a market cap of $46,420.00, a price-to-earnings ratio of 28.25, a PEG ratio of 3.25 and a beta of 1.24. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.64 and a quick ratio of 1.30.

Emerson Electric (NYSE:EMR) last announced its quarterly earnings data on Tuesday, November 7th. The industrial products company reported $0.83 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.83. The business had revenue of $4.44 billion for the quarter, compared to analyst estimates of $4.43 billion. Emerson Electric had a net margin of 9.94% and a return on equity of 20.47%. The company’s revenue was up 12.8% on a year-over-year basis. During the same period last year, the business earned $0.74 EPS. sell-side analysts anticipate that Emerson Electric Company will post 2.92 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Monday, December 11th. Investors of record on Friday, November 17th were given a $0.485 dividend. This represents a $1.94 dividend on an annualized basis and a dividend yield of 2.68%. This is an increase from Emerson Electric’s previous quarterly dividend of $0.48. The ex-dividend date of this dividend was Thursday, November 16th. Emerson Electric’s dividend payout ratio (DPR) is 75.78%.

A number of research firms have issued reports on EMR. Stifel Nicolaus reiterated a “buy” rating on shares of Emerson Electric in a report on Thursday, October 12th. Edward Jones lowered shares of Emerson Electric from a “buy” rating to a “hold” rating in a report on Friday, November 17th. Cowen upgraded shares of Emerson Electric to a “buy” rating and set a $71.00 price objective on the stock in a report on Monday, October 23rd. Zacks Investment Research upgraded shares of Emerson Electric from a “sell” rating to a “hold” rating in a report on Tuesday, October 31st. Finally, Citigroup set a $61.00 price objective on shares of Emerson Electric and gave the company a “sell” rating in a report on Tuesday, November 28th. Three research analysts have rated the stock with a sell rating, eleven have given a hold rating and five have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $65.86.

In related news, COO Edgar M. Purvis, Jr. sold 9,490 shares of the stock in a transaction on Friday, December 8th. The shares were sold at an average price of $65.74, for a total value of $623,872.60. Following the transaction, the chief operating officer now directly owns 168,984 shares of the company’s stock, valued at approximately $11,109,008.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Bell Katherine Button sold 7,518 shares of the stock in a transaction on Monday, December 11th. The shares were sold at an average price of $66.36, for a total transaction of $498,894.48. Following the completion of the transaction, the vice president now directly owns 36,877 shares in the company, valued at $2,447,157.72. The disclosure for this sale can be found here. Insiders sold a total of 27,017 shares of company stock worth $1,771,129 over the last ninety days. Insiders own 0.84% of the company’s stock.

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About Emerson Electric

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

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