First Interstate Bank reduced its holdings in Emerson Electric Co. (NYSE:EMR) by 4.5% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 81,907 shares of the industrial products company’s stock after selling 3,822 shares during the quarter. Emerson Electric comprises 1.2% of First Interstate Bank’s portfolio, making the stock its 29th biggest holding. First Interstate Bank’s holdings in Emerson Electric were worth $5,465,000 at the end of the most recent quarter.
Other large investors have also modified their holdings of the company. Middleton & Co Inc MA acquired a new stake in Emerson Electric during the first quarter worth about $214,000. Delta Asset Management LLC TN grew its position in Emerson Electric by 0.5% during the second quarter. Delta Asset Management LLC TN now owns 114,619 shares of the industrial products company’s stock worth $7,647,000 after buying an additional 598 shares in the last quarter. DNB Asset Management AS grew its position in Emerson Electric by 4.3% during the second quarter. DNB Asset Management AS now owns 127,098 shares of the industrial products company’s stock worth $8,480,000 after buying an additional 5,283 shares in the last quarter. Fox Run Management L.L.C. acquired a new stake in Emerson Electric during the second quarter worth about $234,000. Finally, Sawtooth Solutions LLC grew its position in Emerson Electric by 34.7% during the first quarter. Sawtooth Solutions LLC now owns 7,923 shares of the industrial products company’s stock worth $542,000 after buying an additional 2,041 shares in the last quarter. 70.17% of the stock is currently owned by institutional investors.
In other Emerson Electric news, VP Bell Katherine Button sold 15,791 shares of Emerson Electric stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $63.91, for a total transaction of $1,009,202.81. Following the sale, the vice president now directly owns 30,304 shares of the company’s stock, valued at $1,936,728.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Michael H. Train sold 12,278 shares of Emerson Electric stock in a transaction that occurred on Tuesday, June 11th. The shares were sold at an average price of $63.80, for a total value of $783,336.40. Following the sale, the insider now directly owns 129,298 shares in the company, valued at $8,249,212.40. The disclosure for this sale can be found here. Insiders have sold 40,333 shares of company stock worth $2,583,230 over the last ninety days. Company insiders own 0.07% of the company’s stock.
Emerson Electric (NYSE:EMR) last released its quarterly earnings data on Tuesday, August 6th. The industrial products company reported $0.94 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.94. The company had revenue of $4.68 billion for the quarter, compared to the consensus estimate of $4.82 billion. Emerson Electric had a return on equity of 24.67% and a net margin of 12.06%. The company’s quarterly revenue was up 5.1% on a year-over-year basis. During the same period in the previous year, the business earned $1.12 earnings per share. Equities research analysts expect 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 issued a dividend of $0.49 per share. This represents a $1.96 dividend on an annualized basis and a yield of 3.35%. The ex-dividend date is Thursday, August 15th. Emerson Electric’s payout ratio is 57.99%.
A number of equities research analysts recently weighed in on the company. Credit Suisse Group decreased their target price on Emerson Electric from $74.00 to $70.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 7th. Deutsche Bank decreased their target price on Emerson Electric from $74.00 to $73.00 and set a “buy” rating on the stock in a research report on Monday, August 5th. Zacks Investment Research downgraded Emerson Electric from a “hold” rating to a “sell” rating and set a $69.00 target price on the stock. in a research report on Tuesday, July 23rd. Citigroup decreased their target price on Emerson Electric from $79.00 to $77.00 and set a “buy” rating on the stock in a research report on Tuesday, July 30th. Finally, Morgan Stanley decreased their target price on Emerson Electric from $84.00 to $76.00 and set an “overweight” rating on the stock in a research report on Thursday, August 8th. One analyst has rated the stock with a sell rating, nine have given a hold rating and eight have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $72.71.
Emerson Electric Company 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.
Further Reading: The risks of owning bonds
Receive News & Ratings for Emerson Electric Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Emerson Electric and related companies with MarketBeat.com's FREE daily email newsletter.