Welch Group LLC cut its position in shares of Emerson Electric Co. (NYSE:EMR) by 18.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 253,779 shares of the company’s stock after selling 57,706 shares during the period. Emerson Electric accounts for 2.7% of Welch Group LLC’s portfolio, making the stock its 27th largest position. Welch Group LLC’s holdings in Emerson Electric were worth $13,237,000 as of its most recent filing with the SEC.
A number of other hedge funds have also added to or reduced their stakes in the stock. Bank of Montreal Can bought a new position in Emerson Electric during the second quarter valued at approximately $43,563,000. AXA increased its position 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 increased its position 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. bought a new position in Emerson Electric during the second quarter valued at approximately $20,838,000. Finally, Geode Capital Management LLC increased its position 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. 69.40% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Emerson Electric Co. (NYSE:EMR) traded up 0.64% during mid-day trading on Wednesday, hitting $53.69. The stock had a trading volume of 2,385,550 shares. The firm’s 50 day moving average price is $52.77 and its 200 day moving average price is $53.43. Emerson Electric Co. has a 1-year low of $41.25 and a 1-year high of $56.82. The company has a market cap of $34.55 billion, a P/E ratio of 19.01 and a beta of 1.19.
Emerson Electric (NYSE:EMR) last announced its earnings results on Tuesday, August 2nd. The company reported $0.80 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.84 by $0.04. The company had revenue of $5.10 billion for the quarter, compared to the consensus estimate of $5.34 billion. Emerson Electric had a return on equity of 24.63% and a net margin of 8.96%. Analysts predict that Emerson Electric Co. will post $2.92 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 9th. Investors of record on Friday, August 12th were given a dividend of $0.475 per share. This represents a $1.90 annualized dividend and a yield of 3.54%. The ex-dividend date was Wednesday, August 10th. Emerson Electric’s dividend payout ratio is currently 67.38%.
Several equities analysts recently commented on the company. Deutsche Bank AG cut their target price on Emerson Electric from $55.00 to $50.00 and set a “hold” rating for the company in a research report on Monday, August 8th. Barclays PLC cut their target price on Emerson Electric from $55.00 to $53.00 and set an “equal weight” rating for the company in a research report on Wednesday, August 3rd. Stifel Nicolaus cut their target price on Emerson Electric from $60.00 to $58.00 and set a “buy” rating for the company in a research report on Wednesday, August 3rd. Robert W. Baird restated a “neutral” rating and set a $58.00 target price on shares of Emerson Electric in a research report on Monday, June 27th. Finally, Wells Fargo & Co. reiterated a “hold” rating and issued a $52.00 price objective on shares of Emerson Electric in a research report on Monday, July 18th. Seven research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and four have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $51.91.
About Emerson Electric
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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