Meyer Handelman Co. lowered its stake in shares of Emerson Electric Co. (NYSE:EMR) by 3.6% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 132,220 shares of the industrial products company’s stock after selling 5,000 shares during the period. Meyer Handelman Co.’s holdings in Emerson Electric were worth $10,125,000 at the end of the most recent reporting period.
A number of other large investors also recently bought and sold shares of EMR. Independent Advisor Alliance raised its stake in shares of Emerson Electric by 38.0% in the 2nd quarter. Independent Advisor Alliance now owns 37,225 shares of the industrial products company’s stock valued at $2,522,000 after acquiring an additional 10,250 shares during the period. Commonwealth Bank of Australia raised its stake in shares of Emerson Electric by 3.4% in the 2nd quarter. Commonwealth Bank of Australia now owns 81,289 shares of the industrial products company’s stock valued at $5,546,000 after acquiring an additional 2,652 shares during the period. AMP Capital Investors Ltd raised its stake in shares of Emerson Electric by 12.7% in the 2nd quarter. AMP Capital Investors Ltd now owns 239,559 shares of the industrial products company’s stock valued at $16,563,000 after acquiring an additional 27,052 shares during the period. Tower Research Capital LLC TRC raised its stake in shares of Emerson Electric by 1,033.6% in the 2nd quarter. Tower Research Capital LLC TRC now owns 21,073 shares of the industrial products company’s stock valued at $1,457,000 after acquiring an additional 19,214 shares during the period. Finally, BTR Capital Management Inc. raised its stake in shares of Emerson Electric by 18.7% in the 3rd quarter. BTR Capital Management Inc. now owns 13,065 shares of the industrial products company’s stock valued at $1,001,000 after acquiring an additional 2,060 shares during the period. 70.33% of the stock is currently owned by institutional investors.
EMR has been the topic of a number of research reports. Morgan Stanley initiated coverage on shares of Emerson Electric in a research note on Monday, August 20th. They issued an “overweight” rating and a $85.00 target price on the stock. JPMorgan Chase & Co. raised their target price on shares of Emerson Electric from $79.00 to $82.00 and gave the company an “overweight” rating in a research note on Friday, August 10th. William Blair reissued a “market perform” rating on shares of Emerson Electric in a research note on Tuesday. UBS Group set a $85.00 price target on shares of Emerson Electric and gave the company a “buy” rating in a report on Thursday. Finally, Bank of America raised their price target 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. One research analyst has rated the stock with a sell rating, ten have given a hold rating and thirteen have given a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $78.30.
Emerson Electric (NYSE:EMR) last announced its quarterly earnings data on Tuesday, November 6th. The industrial products company reported $0.89 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.92 by ($0.03). The company had revenue of $4.89 billion for the quarter, compared to analyst estimates of $4.91 billion. Emerson Electric had a return on equity of 23.06% and a net margin of 12.65%. Emerson Electric’s revenue was up 10.2% on a year-over-year basis. During the same period in the prior year, the business earned $0.83 earnings per share. Equities analysts forecast that Emerson Electric Co. will post 3.69 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 10th. Shareholders of record on Friday, November 16th will be issued a dividend of $0.49 per share. This is a positive change from Emerson Electric’s previous quarterly dividend of $0.49. This represents a $1.96 annualized dividend and a yield of 2.86%. The ex-dividend date is Thursday, November 15th. Emerson Electric’s dividend payout ratio (DPR) is currently 57.40%.
In other Emerson Electric news, President Edward L. Monser sold 60,000 shares of the firm’s stock in a transaction on 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 transaction, the president now directly owns 176,477 shares of the company’s stock, valued at approximately $13,429,899.70. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, President Edward L. Monser sold 30,000 shares of the firm’s stock in a transaction on Friday, September 7th. The stock was sold at an average price of $75.84, for a total transaction of $2,275,200.00. Following the transaction, the president now directly owns 176,477 shares of the company’s stock, valued at $13,384,015.68. The disclosure for this sale can be found here. Over the last three months, insiders have sold 96,409 shares of company stock valued at $7,317,004. 0.79% of the stock is owned by company insiders.
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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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