Prio Wealth Limited Partnership reduced its position in Emerson Electric Co. (NYSE:EMR) by 0.4% in the fourth quarter, Holdings Channel reports. The institutional investor owned 255,991 shares of the industrial products company’s stock after selling 929 shares during the period. Prio Wealth Limited Partnership’s holdings in Emerson Electric were worth $15,295,000 as of its most recent SEC filing.
Other large investors have also recently bought and sold shares of the company. Csenge Advisory Group purchased a new position in Emerson Electric in the 3rd quarter valued at about $28,000. Moody National Bank Trust Division bought a new position in shares of Emerson Electric during the fourth quarter worth about $27,000. Massey Quick Simon & CO. LLC bought a new position in shares of Emerson Electric during the fourth quarter worth about $30,000. Norway Savings Bank lifted its position in shares of Emerson Electric by 60.1% during the fourth quarter. Norway Savings Bank now owns 533 shares of the industrial products company’s stock worth $32,000 after purchasing an additional 200 shares during the last quarter. Finally, Exane Asset Management bought a new position in shares of Emerson Electric during the fourth quarter worth about $43,000. 71.14% of the stock is owned by institutional investors.
In other Emerson Electric news, insider Surendralal Lanca Karsanbhai sold 9,070 shares of the firm’s stock in a transaction that occurred on Wednesday, November 28th. The shares were sold at an average price of $68.00, for a total value of $616,760.00. Following the sale, the insider now owns 20,000 shares in the company, valued at $1,360,000. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.07% of the stock is currently owned by company insiders.
EMR has been the topic of several research analyst reports. Credit Suisse Group raised shares of Emerson Electric from a “neutral” rating to an “outperform” rating and set a $59.60 price target on the stock in a research report on Thursday, January 3rd. Stephens initiated coverage on shares of Emerson Electric in a research report on Monday, November 19th. They set an “overweight” rating and a $80.00 price target on the stock. Deutsche Bank set a $79.00 price target on shares of Emerson Electric and gave the stock a “buy” rating in a research report on Wednesday, November 7th. Citigroup raised shares of Emerson Electric from a “sell” rating to a “neutral” rating and set a $66.00 price target on the stock in a research report on Monday, January 14th. Finally, Robert W. Baird set a $70.00 price target on shares of Emerson Electric and gave the stock a “hold” rating in a research report on Monday, December 17th. Ten research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $76.28.
EMR opened at $68.31 on Tuesday. The stock has a market cap of $41.98 billion, a P/E ratio of 20.21, a price-to-earnings-growth ratio of 2.14 and a beta of 1.20. Emerson Electric Co. has a fifty-two week low of $55.38 and a fifty-two week high of $79.70. The company has a current ratio of 0.88, a quick ratio of 0.62 and a debt-to-equity ratio of 0.32.
Emerson Electric (NYSE:EMR) last announced its quarterly earnings results on Tuesday, February 5th. The industrial products company reported $0.74 EPS for the quarter, beating the consensus estimate of $0.66 by $0.08. Emerson Electric had a net margin of 12.83% and a return on equity of 24.21%. The company had revenue of $4.15 billion for the quarter, compared to analyst estimates of $4.21 billion. During the same quarter last year, the business earned $0.61 earnings per share. Emerson Electric’s revenue was up 8.7% compared to the same quarter last year. Sell-side analysts predict that Emerson Electric Co. will post 3.7 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, March 11th. Shareholders of record on Friday, February 15th will be paid a $0.49 dividend. The ex-dividend date is Thursday, February 14th. This represents a $1.96 annualized dividend and a dividend yield of 2.87%. Emerson Electric’s payout ratio is currently 57.99%.
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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.
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