Kornitzer Capital Management Inc. KS Decreases Holdings in Emerson Electric Co. (EMR)

Kornitzer Capital Management Inc. KS reduced its stake in Emerson Electric Co. (NYSE:EMR) by 0.8% during the 3rd quarter, Holdings Channel reports. The firm owned 121,232 shares of the industrial products company’s stock after selling 1,000 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in Emerson Electric were worth $9,284,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in the business. Bank of America Corp DE increased its holdings in shares of Emerson Electric by 1.8% in the second quarter. Bank of America Corp DE now owns 23,145,471 shares of the industrial products company’s stock valued at $1,600,277,000 after purchasing an additional 417,445 shares during the last quarter. Northern Trust Corp increased its holdings in shares of Emerson Electric by 0.9% in the second quarter. Northern Trust Corp now owns 9,540,319 shares of the industrial products company’s stock valued at $659,617,000 after purchasing an additional 80,807 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Emerson Electric by 3,146,008.7% in the third quarter. Bank of New York Mellon Corp now owns 9,375,404 shares of the industrial products company’s stock valued at $717,967,000 after purchasing an additional 9,375,106 shares during the last quarter. American Century Companies Inc. increased its holdings in shares of Emerson Electric by 1.1% in the second quarter. American Century Companies Inc. now owns 4,594,851 shares of the industrial products company’s stock valued at $317,688,000 after purchasing an additional 51,585 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. increased its holdings in shares of Emerson Electric by 1.5% in the second quarter. Schwab Charles Investment Management Inc. now owns 4,168,307 shares of the industrial products company’s stock valued at $288,197,000 after purchasing an additional 62,727 shares during the last quarter. Hedge funds and other institutional investors own 70.55% of the company’s stock.

In related news, President Edward L. Monser sold 60,000 shares of the company’s stock in a transaction dated 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 owns 176,477 shares of the company’s stock, valued at $13,429,899.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Surendralal Lanca Karsanbhai sold 9,070 shares of the company’s stock in a transaction dated Wednesday, November 28th. The stock was sold at an average price of $68.00, for a total transaction of $616,760.00. Following the sale, the insider now directly owns 20,000 shares of the company’s stock, valued at approximately $1,360,000. The disclosure for this sale can be found here. Insiders have sold 99,070 shares of company stock valued at $7,457,960 in the last ninety days. 0.84% of the stock is currently owned by company insiders.

EMR stock opened at $68.86 on Tuesday. 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 52 week low of $64.55 and a 52 week high of $79.70. The stock has a market capitalization of $42.28 billion, a P/E ratio of 20.37, a price-to-earnings-growth ratio of 2.06 and a beta of 1.21.

Emerson Electric (NYSE:EMR) last released its quarterly earnings results on Tuesday, November 6th. The industrial products company reported $0.89 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.92 by ($0.03). Emerson Electric had a net margin of 12.65% and a return on equity of 23.06%. The business had revenue of $4.89 billion during the quarter, compared to analyst estimates of $4.91 billion. During the same quarter last year, the company posted $0.83 earnings per share. The company’s revenue was up 10.2% on a year-over-year basis. On average, analysts predict that Emerson Electric Co. will post 3.68 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 10th. Investors of record on Friday, November 16th will be given a dividend of $0.49 per share. This is a boost from Emerson Electric’s previous quarterly dividend of $0.49. The ex-dividend date is Thursday, November 15th. This represents a $1.96 annualized dividend and a yield of 2.85%. Emerson Electric’s dividend payout ratio is currently 57.99%.

Several research firms have commented on EMR. Bank of America upped their price objective on shares of Emerson Electric from $82.00 to $90.00 and gave the company a “buy” rating in a report on Thursday, October 4th. Cowen restated a “buy” rating and issued a $81.00 price target on shares of Emerson Electric in a research note on Wednesday, September 19th. Zacks Investment Research upgraded shares of Emerson Electric from a “hold” rating to a “buy” rating and set a $88.00 price target on the stock in a research note on Thursday, October 4th. Barclays upped their price target on shares of Emerson Electric from $85.00 to $88.00 and gave the company an “overweight” rating in a research note on Monday, September 24th. Finally, UBS Group upped their price target on shares of Emerson Electric from $85.00 to $90.00 and gave the company a “buy” rating in a research note on Thursday, August 30th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and fourteen have given a buy rating to the company. Emerson Electric currently has a consensus rating of “Buy” and a consensus price target of $78.39.

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Emerson Electric Company Profile

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.

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

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