Jennison Associates LLC Sells 427,099 Shares of Emerson Electric Co. (NYSE:EMR)

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Jennison Associates LLC decreased its position in Emerson Electric Co. (NYSE:EMR) by 27.0% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,153,785 shares of the industrial products company’s stock after selling 427,099 shares during the period. Jennison Associates LLC owned approximately 0.19% of Emerson Electric worth $76,981,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Glassman Wealth Services boosted its stake in Emerson Electric by 240.7% in the 1st quarter. Glassman Wealth Services now owns 402 shares of the industrial products company’s stock worth $28,000 after purchasing an additional 284 shares in the last quarter. Larson Financial Group LLC boosted its stake in Emerson Electric by 80.3% in the 2nd quarter. Larson Financial Group LLC now owns 440 shares of the industrial products company’s stock worth $29,000 after purchasing an additional 196 shares in the last quarter. Westside Investment Management Inc. bought a new position in Emerson Electric in the 2nd quarter worth about $34,000. Buffington Mohr McNeal bought a new position in Emerson Electric in the 1st quarter worth about $41,000. Finally, Rational Advisors LLC bought a new position in Emerson Electric in the 1st quarter worth about $41,000. Institutional investors own 70.17% of the company’s stock.

Several research firms have issued reports on EMR. Morgan Stanley lowered their target price on shares of Emerson Electric from $84.00 to $76.00 and set an “overweight” rating on the stock in a research note on Thursday, August 8th. Citigroup lowered their target price on shares of Emerson Electric from $79.00 to $77.00 and set a “buy” rating on the stock in a research note on Tuesday, July 30th. Cowen restated a “buy” rating and set a $72.00 target price on shares of Emerson Electric in a research note on Friday, August 9th. Deutsche Bank lowered their target price on shares of Emerson Electric from $74.00 to $73.00 and set a “buy” rating on the stock in a research note on Monday, August 5th. Finally, Credit Suisse Group lowered their target price on shares of Emerson Electric from $74.00 to $70.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $72.71.

In other news, VP Bell Katherine Button sold 4,470 shares of the stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $65.00, for a total value of $290,550.00. Following the transaction, the vice president now owns 18,040 shares in the company, valued at approximately $1,172,600. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Michael H. Train sold 12,278 shares of the stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $63.80, for a total transaction of $783,336.40. Following the completion of the transaction, the insider now owns 129,298 shares in the company, valued at approximately $8,249,212.40. The disclosure for this sale can be found here. Insiders sold a total of 40,333 shares of company stock worth $2,583,230 in the last quarter. Company insiders own 0.07% of the company’s stock.

Shares of NYSE:EMR traded down $1.20 during trading on Friday, hitting $57.00. The company’s stock had a trading volume of 3,224,028 shares, compared to its average volume of 3,594,819. The company has a 50-day moving average of $62.73 and a 200-day moving average of $66.12. Emerson Electric Co. has a 12 month low of $55.38 and a 12 month high of $79.70. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.18 and a quick ratio of 0.85. The firm has a market cap of $35.80 billion, a price-to-earnings ratio of 16.86, a P/E/G ratio of 1.95 and a beta of 1.32.

Emerson Electric (NYSE:EMR) last issued its quarterly earnings data on Tuesday, August 6th. The industrial products company reported $0.94 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.94. Emerson Electric had a net margin of 12.06% and a return on equity of 24.67%. The firm had revenue of $4.68 billion for the quarter, compared to analysts’ expectations of $4.82 billion. During the same quarter in the prior year, the business earned $1.12 EPS. The business’s quarterly revenue was up 5.1% on a year-over-year basis. As a group, research analysts anticipate that Emerson Electric Co. will post 3.64 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Friday, August 16th will be paid a $0.49 dividend. This represents a $1.96 annualized dividend and a dividend yield of 3.44%. The ex-dividend date of this dividend is Thursday, August 15th. Emerson Electric’s dividend payout ratio (DPR) is presently 57.99%.

Emerson Electric Profile

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.

Read More: What is Considered a Good Return on Equity (ROE)?

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

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