Sprucegrove Investment Management Ltd. lessened its position in shares of Emerson Electric Company (NYSE:EMR) by 18.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 104,000 shares of the industrial products company’s stock after selling 23,200 shares during the quarter. Sprucegrove Investment Management Ltd.’s holdings in Emerson Electric were worth $6,200,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Oppenheimer Asset Management Inc. bought a new position in shares of Emerson Electric during the 1st quarter worth approximately $127,000. AT Bancorp bought a new position in shares of Emerson Electric during the 2nd quarter worth approximately $139,000. Harbour Capital Advisors LLC bought a new position in shares of Emerson Electric during the 1st quarter worth approximately $147,000. Guardian Life Insurance Co. of America raised its stake in shares of Emerson Electric by 1.1% during the 1st quarter. Guardian Life Insurance Co. of America now owns 2,491 shares of the industrial products company’s stock worth $149,000 after acquiring an additional 28 shares in the last quarter. Finally, Perkins Coie Trust Co bought a new position in shares of Emerson Electric during the 2nd quarter worth approximately $150,000. Hedge funds and other institutional investors own 69.35% of the company’s stock.
In related news, insider Robert T. Sharp sold 2,000 shares of the stock in a transaction on Thursday, August 31st. The shares were sold at an average price of $58.99, for a total transaction of $117,980.00. Following the sale, the insider now directly owns 64,290 shares of the company’s stock, valued at $3,792,467.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.79% of the company’s stock.
Shares of Emerson Electric Company (NYSE:EMR) opened at $59.85 on Monday. The company has a market cap of $38,305.17, a price-to-earnings ratio of 23.20, a PEG ratio of 2.73 and a beta of 1.24. The company has a quick ratio of 1.30, a current ratio of 1.64 and a debt-to-equity ratio of 0.43. Emerson Electric Company has a twelve month low of $53.92 and a twelve month high of $67.79.
Emerson Electric (NYSE:EMR) last announced its quarterly earnings results on Tuesday, November 7th. The industrial products company reported $0.83 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.83. Emerson Electric had a net margin of 9.94% and a return on equity of 20.47%. The firm had revenue of $4.44 billion for the quarter, compared to the consensus estimate of $4.43 billion. During the same period in the prior year, the firm posted $0.74 earnings per share. The firm’s quarterly revenue was up 12.8% compared to the same quarter last year. sell-side analysts predict that Emerson Electric Company will post 2.91 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, December 11th. Investors of record on Friday, November 17th will be issued a dividend of $0.485 per share. The ex-dividend date of this dividend is Thursday, November 16th. This is an increase from Emerson Electric’s previous quarterly dividend of $0.48. This represents a $1.94 dividend on an annualized basis and a yield of 3.24%. Emerson Electric’s dividend payout ratio is 82.55%.
Several research firms have weighed in on EMR. Stifel Nicolaus reissued a “buy” rating on shares of Emerson Electric in a research report on Thursday, October 12th. Edward Jones downgraded shares of Emerson Electric from a “buy” rating to a “hold” rating in a research report on Friday. Cowen and Company raised shares of Emerson Electric to a “buy” rating and set a $71.00 target price on the stock in a research report on Monday, October 23rd. Zacks Investment Research raised shares of Emerson Electric from a “sell” rating to a “hold” rating in a research report on Tuesday, October 31st. Finally, Citigroup Inc. reissued a “sell” rating and set a $61.00 target price (up previously from $58.00) on shares of Emerson Electric in a research report on Monday, October 9th. Three research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and three have given a buy rating to the company’s stock. Emerson Electric presently has a consensus rating of “Hold” and an average price target of $65.14.
Emerson Electric Profile
Emerson Electric Co is a diversified global manufacturing company, which provides solutions to customers by bringing technology and engineering together in the industrial, commercial and consumer markets around the world. The Company operates through four segments based on the nature of the products and services rendered: Process Management, Industrial Automation, Climate Technologies and Commercial & Residential Solutions.
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