Folger Nolan Fleming Douglas Capital Management Inc. lowered its stake in shares of Emerson Electric Company (NYSE:EMR) by 10.1% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 14,179 shares of the industrial products company’s stock after selling 1,600 shares during the period. Folger Nolan Fleming Douglas Capital Management Inc.’s holdings in Emerson Electric were worth $988,000 as of its most recent SEC filing.
Other large investors also recently modified their holdings of the company. Crossmark Global Holdings Inc. acquired a new stake in shares of Emerson Electric in the 3rd quarter valued at $12,652,000. APG Asset Management N.V. lifted its stake in shares of Emerson Electric by 10.8% in the 3rd quarter. APG Asset Management N.V. now owns 3,921,119 shares of the industrial products company’s stock valued at $246,403,000 after purchasing an additional 383,300 shares during the last quarter. Lipe & Dalton lifted its stake in shares of Emerson Electric by 1.3% in the 2nd quarter. Lipe & Dalton now owns 42,125 shares of the industrial products company’s stock valued at $2,511,000 after purchasing an additional 560 shares during the last quarter. Linscomb & Williams Inc. lifted its stake in shares of Emerson Electric by 5.1% in the 3rd quarter. Linscomb & Williams Inc. now owns 62,569 shares of the industrial products company’s stock valued at $3,932,000 after purchasing an additional 3,012 shares during the last quarter. Finally, Harrington Investments INC acquired a new stake in shares of Emerson Electric in the 3rd quarter valued at $1,400,000. 68.27% of the stock is owned by institutional investors.
In other news, VP Frank J. Dellaquila sold 2,100 shares of the business’s stock in a transaction dated Wednesday, December 6th. The shares were sold at an average price of $64.77, for a total transaction of $136,017.00. Following the transaction, the vice president now owns 178,743 shares in the company, valued at approximately $11,577,184.11. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Bell Katherine Button sold 7,909 shares of the business’s stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $64.78, for a total transaction of $512,345.02. Following the transaction, the vice president now owns 44,628 shares in the company, valued at approximately $2,891,001.84. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 27,017 shares of company stock worth $1,771,129. Insiders own 0.79% of the company’s stock.
Emerson Electric (NYSE:EMR) last posted its quarterly earnings data on Tuesday, February 6th. The industrial products company reported $0.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.54 by $0.04. Emerson Electric had a net margin of 10.09% and a return on equity of 20.73%. The company had revenue of $3.82 billion for the quarter, compared to the consensus estimate of $3.72 billion. During the same quarter in the previous year, the firm posted $0.49 EPS. The business’s revenue was up 18.7% compared to the same quarter last year. equities analysts expect that Emerson Electric Company will post 3.11 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 9th. Stockholders of record on Friday, February 16th will be issued a dividend of $0.485 per share. The ex-dividend date is Thursday, February 15th. This represents a $1.94 annualized dividend and a dividend yield of 2.69%. Emerson Electric’s payout ratio is 78.23%.
Several research firms recently issued reports on EMR. Edward Jones lowered shares of Emerson Electric from a “buy” rating to a “hold” rating in a research note on Friday, November 17th. JMP Securities lowered shares of Emerson Electric from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $74.45 to $56.77 in a research note on Thursday, February 1st. Stifel Nicolaus reaffirmed a “buy” rating and issued a $75.00 price objective on shares of Emerson Electric in a research note on Monday, December 11th. Robert W. Baird lifted their price objective on shares of Emerson Electric from $70.00 to $76.00 and gave the company a “neutral” rating in a research note on Wednesday, February 7th. Finally, Zacks Investment Research raised shares of Emerson Electric from a “hold” rating to a “buy” rating and set a $78.00 price objective for the company in a research note on Thursday, February 8th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have given a buy rating to the company’s stock. Emerson Electric has a consensus rating of “Hold” and an average price target of $69.67.
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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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