Summit Financial Wealth Advisors LLC reduced its position in shares of Emerson Electric Co. (NYSE:EMR) by 11.8% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 49,082 shares of the industrial products company’s stock after selling 6,577 shares during the quarter. Summit Financial Wealth Advisors LLC’s holdings in Emerson Electric were worth $2,933,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other large investors have also recently bought and sold shares of EMR. FMR LLC boosted its stake in Emerson Electric by 22.2% during the 2nd quarter. FMR LLC now owns 3,430,748 shares of the industrial products company’s stock valued at $237,202,000 after purchasing an additional 622,701 shares in the last quarter. Krueger & Catalano Capital Partners LLC boosted its stake in Emerson Electric by 13.8% during the 3rd quarter. Krueger & Catalano Capital Partners LLC now owns 13,011 shares of the industrial products company’s stock valued at $996,000 after purchasing an additional 1,574 shares in the last quarter. MainStreet Investment Advisors LLC boosted its stake in Emerson Electric by 12.4% during the 3rd quarter. MainStreet Investment Advisors LLC now owns 37,765 shares of the industrial products company’s stock valued at $2,892,000 after purchasing an additional 4,169 shares in the last quarter. Gardiner Nancy B bought a new position in Emerson Electric during the 3rd quarter valued at $455,000. Finally, First Hawaiian Bank bought a new position in Emerson Electric during the 3rd quarter valued at $1,193,000. Institutional investors own 71.14% of the company’s stock.
EMR has been the subject of a number of research reports. Credit Suisse Group raised Emerson Electric from a “neutral” rating to an “outperform” rating and set a $59.60 price target for the company in a research note on Thursday, January 3rd. Stephens initiated coverage on Emerson Electric in a research note on Monday, November 19th. They set an “overweight” rating and a $80.00 price target for the company. Deutsche Bank set a $79.00 price target on Emerson Electric and gave the company a “buy” rating in a research note on Wednesday, November 7th. Citigroup upgraded Emerson Electric from a “sell” rating to a “neutral” rating and set a $66.00 price objective for the company in a research report on Monday, January 14th. Finally, Robert W. Baird set a $70.00 price objective on Emerson Electric and gave the company a “hold” rating in a research report on Monday, December 17th. Ten equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $76.28.
In other news, insider Surendralal Lanca Karsanbhai sold 9,070 shares of the stock in a transaction on Wednesday, November 28th. The stock was sold at an average price of $68.00, for a total value of $616,760.00. Following the completion of the sale, the insider now owns 20,000 shares in the company, valued at $1,360,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.07% of the stock is owned by corporate insiders.
Shares of NYSE:EMR traded down $0.12 on Monday, reaching $66.62. 51,079 shares of the company traded hands, compared to its average volume of 4,107,377. 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 market capitalization of $41.02 billion, a PE ratio of 19.76, a price-to-earnings-growth ratio of 2.10 and a beta of 1.20. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.62 and a current ratio of 0.88.
Emerson Electric (NYSE:EMR) last announced its quarterly earnings data on Tuesday, February 5th. The industrial products company reported $0.74 EPS for the quarter, beating analysts’ consensus estimates of $0.66 by $0.08. Emerson Electric had a return on equity of 24.21% and a net margin of 12.83%. The company had revenue of $4.15 billion during the quarter, compared to the consensus estimate of $4.21 billion. During the same quarter in the prior year, the firm earned $0.61 EPS. The company’s quarterly revenue was up 8.7% compared to the same quarter last year. As a group, research analysts forecast that Emerson Electric Co. will post 3.7 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, March 11th. Stockholders of record on Friday, February 15th will be issued a $0.49 dividend. The ex-dividend date of this dividend is Thursday, February 14th. This represents a $1.96 dividend on an annualized basis and a dividend yield of 2.94%. Emerson Electric’s payout ratio is currently 57.99%.
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About Emerson Electric
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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