Meadow Creek Investment Management LLC cut its position in shares of Emerson Electric Co. (NYSE:EMR) by 9.1% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 12,782 shares of the industrial products company’s stock after selling 1,276 shares during the quarter. Meadow Creek Investment Management LLC’s holdings in Emerson Electric were worth $884,000 at the end of the most recent quarter.
A number of other hedge funds have also recently added to or reduced their stakes in EMR. Clarus Wealth Advisors bought a new position in Emerson Electric during the second quarter worth about $100,000. W.G. Shaheen & Associates DBA Whitney & Co bought a new position in Emerson Electric during the first quarter worth about $102,000. Bay Colony Advisory Group Inc d b a Bay Colony Advisors bought a new position in Emerson Electric during the second quarter worth about $102,000. Kiley Juergens Wealth Management LLC bought a new position in Emerson Electric during the second quarter worth about $105,000. Finally, Kaizen Advisory LLC lifted its stake in Emerson Electric by 151.1% during the second quarter. Kaizen Advisory LLC now owns 1,539 shares of the industrial products company’s stock worth $106,000 after purchasing an additional 926 shares during the period. 70.37% of the stock is currently owned by institutional investors and hedge funds.
NYSE:EMR opened at $76.21 on Friday. Emerson Electric Co. has a 1 year low of $57.47 and a 1 year high of $77.60. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.23 and a quick ratio of 0.97. The company has a market capitalization of $48.56 billion, a PE ratio of 28.87, a PEG ratio of 2.27 and a beta of 1.17.
Emerson Electric (NYSE:EMR) last posted its earnings results on Tuesday, August 7th. The industrial products company reported $0.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.86 by $0.02. Emerson Electric had a net margin of 12.33% and a return on equity of 22.83%. The company had revenue of $4.46 billion during the quarter, compared to analysts’ expectations of $4.47 billion. During the same quarter in the previous year, the company posted $0.68 earnings per share. Emerson Electric’s quarterly revenue was up 10.3% compared to the same quarter last year. sell-side analysts anticipate that Emerson Electric Co. will post 3.19 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, September 10th. Stockholders of record on Friday, August 17th will be paid a $0.485 dividend. This represents a $1.94 dividend on an annualized basis and a dividend yield of 2.55%. The ex-dividend date of this dividend is Thursday, August 16th. Emerson Electric’s dividend payout ratio (DPR) is currently 73.48%.
In other news, insider Michael H. Train sold 24,166 shares of Emerson Electric stock in a transaction that occurred on Monday, June 18th. The shares were sold at an average price of $71.46, for a total value of $1,726,902.36. Following the completion of the transaction, the insider now owns 121,626 shares in the company, valued at $8,691,393.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Steven J. Pelch sold 6,409 shares of the business’s stock in a transaction that occurred on Tuesday, August 14th. The stock was sold at an average price of $74.24, for a total transaction of $475,804.16. The disclosure for this sale can be found here. Insiders own 0.79% of the company’s stock.
A number of brokerages have commented on EMR. UBS Group raised their price target on shares of Emerson Electric from $85.00 to $90.00 and gave the stock a “buy” rating in a research note on Thursday, August 30th. Morgan Stanley began coverage on shares of Emerson Electric in a research note on Monday, August 20th. They set an “overweight” rating and a $85.00 price target for the company. Argus raised their price target on shares of Emerson Electric from $81.00 to $83.00 and gave the stock a “buy” rating in a research note on Tuesday, August 14th. JPMorgan Chase & Co. raised their price target on shares of Emerson Electric from $79.00 to $82.00 and gave the stock an “overweight” rating in a research note on Friday, August 10th. Finally, Barclays raised their price target on shares of Emerson Electric from $80.00 to $85.00 and gave the stock an “overweight” rating in a research note on Thursday, August 9th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have assigned a buy rating to the company. Emerson Electric has a consensus rating of “Buy” and a consensus target price of $77.32.
Emerson Electric 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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