Hamlin Capital Management LLC cut its stake in shares of Emerson Electric Co. (NYSE:EMR) by 1.5% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,011,158 shares of the company’s stock after selling 15,673 shares during the period. Emerson Electric comprises 2.6% of Hamlin Capital Management LLC’s investment portfolio, making the stock its 24th largest position. Hamlin Capital Management LLC’s holdings in Emerson Electric were worth $52,742,000 as of its most recent SEC filing.
A number of other hedge funds have also bought and sold shares of the stock. Bank of Montreal Can acquired a new stake in Emerson Electric during the second quarter valued at approximately $43,563,000. AXA boosted its stake in Emerson Electric by 46.5% in the first quarter. AXA now owns 1,584,042 shares of the company’s stock valued at $86,140,000 after buying an additional 502,533 shares during the period. Sasco Capital Inc. CT boosted its stake in Emerson Electric by 22.4% in the first quarter. Sasco Capital Inc. CT now owns 2,469,653 shares of the company’s stock valued at $134,300,000 after buying an additional 452,303 shares during the period. Seminole Management Co. Inc. acquired a new stake in Emerson Electric during the second quarter valued at approximately $20,838,000. Finally, Geode Capital Management LLC boosted its stake in Emerson Electric by 4.4% in the first quarter. Geode Capital Management LLC now owns 5,526,822 shares of the company’s stock valued at $299,972,000 after buying an additional 233,873 shares during the period. Institutional investors own 69.40% of the company’s stock.
Shares of Emerson Electric Co. (NYSE:EMR) traded down 1.30% on Monday, reaching $53.80. The company had a trading volume of 3,814,274 shares. The company’s 50-day moving average is $52.81 and its 200 day moving average is $53.44. The firm has a market capitalization of $34.62 billion, a PE ratio of 19.05 and a beta of 1.19. Emerson Electric Co. has a 12 month low of $41.25 and a 12 month high of $56.82.
Emerson Electric (NYSE:EMR) last issued its quarterly earnings data on Tuesday, August 2nd. The company reported $0.80 EPS for the quarter, missing the Zacks’ consensus estimate of $0.84 by $0.04. The company had revenue of $5.10 billion for the quarter, compared to analyst estimates of $5.34 billion. Emerson Electric had a net margin of 8.96% and a return on equity of 24.63%. Equities analysts forecast that Emerson Electric Co. will post $2.92 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 9th. Stockholders of record on Friday, August 12th were issued a dividend of $0.475 per share. This represents a $1.90 dividend on an annualized basis and a dividend yield of 3.53%. The ex-dividend date of this dividend was Wednesday, August 10th. Emerson Electric’s dividend payout ratio is 67.38%.
Several analysts have commented on EMR shares. Credit Suisse Group AG cut Emerson Electric from an “outperform” rating to a “neutral” rating and set a $57.00 price target for the company. in a report on Friday, August 19th. They noted that the move was a valuation call. Sanford C. Bernstein reiterated a “market perform” rating on shares of Emerson Electric in a report on Monday, June 27th. JPMorgan Chase & Co. reiterated a “neutral” rating on shares of Emerson Electric in a report on Monday, September 26th. Morgan Stanley reiterated a “hold” rating and set a $50.00 target price on shares of Emerson Electric in a report on Monday, August 29th. Finally, Zacks Investment Research cut Emerson Electric from a “hold” rating to a “sell” rating in a report on Monday, July 18th. Six equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and four have issued a buy rating to the company’s stock. Emerson Electric presently has an average rating of “Hold” and a consensus price target of $52.17.
Emerson Electric Company Profile
Emerson Electric Co is engaged in offering technology and engineering together that provides solutions for customers in industrial, commercial, and consumer markets around the world. The company operates through five business segments: Process Management, Industrial Automation, Network Power, Climate Technologies, and Commercial & Residential Solutions.
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