Cadence Capital Management LLC Sells 10,058 Shares of Emerson Electric Company (EMR)

Cadence Capital Management LLC cut its stake in shares of Emerson Electric Company (NYSE:EMR) by 10.2% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 88,694 shares of the industrial products company’s stock after selling 10,058 shares during the period. Cadence Capital Management LLC’s holdings in Emerson Electric were worth $5,574,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Intellectus Partners LLC raised its stake in Emerson Electric by 0.3% in the second quarter. Intellectus Partners LLC now owns 2,094 shares of the industrial products company’s stock valued at $125,000 after buying an additional 7 shares during the period. RB Capital Management LLC raised its stake in Emerson Electric by 0.6% in the second quarter. RB Capital Management LLC now owns 4,475 shares of the industrial products company’s stock valued at $267,000 after buying an additional 26 shares during the period. Parallel Advisors LLC raised its stake in Emerson Electric by 0.5% in the second quarter. Parallel Advisors LLC now owns 4,892 shares of the industrial products company’s stock valued at $292,000 after buying an additional 26 shares during the period. Guardian Life Insurance Co. of America raised its stake in Emerson Electric by 1.1% in the first quarter. Guardian Life Insurance Co. of America now owns 2,491 shares of the industrial products company’s stock valued at $149,000 after buying an additional 28 shares during the period. Finally, Busey Trust CO raised its stake in Emerson Electric by 0.5% in the second quarter. Busey Trust CO now owns 6,834 shares of the industrial products company’s stock valued at $407,000 after buying an additional 31 shares during the period. 69.16% of the stock is owned by hedge funds and other institutional investors.

Emerson Electric Company (NYSE:EMR) opened at $71.49 on Friday. Emerson Electric Company has a 52 week low of $55.40 and a 52 week high of $71.81. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.30 and a current ratio of 1.64. The company has a market capitalization of $45,880.00, a price-to-earnings ratio of 27.93, a price-to-earnings-growth ratio of 3.18 and a beta of 1.24.

Emerson Electric (NYSE:EMR) last issued its earnings results on Tuesday, November 7th. The industrial products company reported $0.83 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.83. The firm had revenue of $4.44 billion for the quarter, compared to the consensus estimate of $4.43 billion. Emerson Electric had a return on equity of 20.47% and a net margin of 9.94%. The company’s revenue was up 12.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.74 EPS. equities analysts forecast that Emerson Electric Company will post 2.92 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Monday, December 11th. Shareholders of record on Friday, November 17th were issued a $0.485 dividend. This represents a $1.94 dividend on an annualized basis and a dividend yield of 2.71%. The ex-dividend date of this dividend was Thursday, November 16th. This is an increase from Emerson Electric’s previous quarterly dividend of $0.48. Emerson Electric’s dividend payout ratio (DPR) is currently 75.78%.

In other Emerson Electric news, COO Edgar M. Purvis, Jr. sold 9,490 shares of the firm’s stock in a transaction on Friday, December 8th. The stock was sold at an average price of $65.74, for a total value of $623,872.60. Following the sale, the chief operating officer now owns 168,984 shares of the company’s stock, valued at approximately $11,109,008.16. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Bell Katherine Button sold 7,909 shares of the firm’s stock in a transaction on Thursday, November 30th. The shares were sold at an average price of $64.78, for a total value of $512,345.02. Following the completion of the sale, the vice president now directly owns 44,628 shares in the company, valued at approximately $2,891,001.84. The disclosure for this sale can be found here. In the last ninety days, insiders sold 27,017 shares of company stock worth $1,771,129. Company insiders own 0.79% of the company’s stock.

A number of brokerages have recently weighed in on EMR. Vertical Research upgraded Emerson Electric from a “hold” rating to a “buy” rating in a research note on Tuesday. Edward Jones lowered Emerson Electric from a “buy” rating to a “hold” rating in a research note on Friday, November 17th. Cowen upgraded Emerson Electric to a “buy” rating and set a $71.00 target price on the stock in a research note on Monday, October 23rd. Royal Bank of Canada reiterated a “neutral” rating on shares of Emerson Electric in a research note on Thursday, November 9th. Finally, Citigroup reiterated a “sell” rating and set a $61.00 target price (up previously from $58.00) on shares of Emerson Electric in a research note on Monday, October 9th. Three research analysts have rated the stock with a sell rating, eleven have issued a hold rating and five have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $65.86.

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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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Institutional Ownership by Quarter for Emerson Electric (NYSE:EMR)

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