BLB&B Advisors LLC trimmed its stake in shares of Emerson Electric Co. (NYSE:EMR) by 4.9% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 50,857 shares of the industrial products company’s stock after selling 2,610 shares during the quarter. BLB&B Advisors LLC’s holdings in Emerson Electric were worth $3,393,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors also recently bought and sold shares of the business. Glassman Wealth Services boosted its holdings in shares of Emerson Electric by 240.7% during the first quarter. Glassman Wealth Services now owns 402 shares of the industrial products company’s stock worth $28,000 after purchasing an additional 284 shares during the last quarter. Larson Financial Group LLC increased its position in shares of Emerson Electric by 80.3% during the second quarter. Larson Financial Group LLC now owns 440 shares of the industrial products company’s stock worth $29,000 after acquiring an additional 196 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in shares of Emerson Electric during the first quarter worth about $34,000. Westside Investment Management Inc. purchased a new stake in shares of Emerson Electric during the second quarter worth about $34,000. Finally, Legacy Advisors LLC purchased a new stake in shares of Emerson Electric during the first quarter worth about $41,000. 70.30% of the stock is owned by institutional investors.
EMR has been the topic of a number of analyst reports. Morgan Stanley lowered their price objective on Emerson Electric from $84.00 to $76.00 and set an “overweight” rating for the company in a report on Thursday, August 8th. Cowen reissued a “buy” rating and issued a $72.00 price objective on shares of Emerson Electric in a report on Friday, August 9th. Citigroup lowered their target price on Emerson Electric from $79.00 to $77.00 and set a “buy” rating for the company in a report on Tuesday, July 30th. Credit Suisse Group lowered their target price on Emerson Electric from $74.00 to $70.00 and set an “outperform” rating for the company in a report on Wednesday, August 7th. Finally, Deutsche Bank lowered their target price on Emerson Electric from $74.00 to $73.00 and set a “buy” rating for the company in a report on Monday, August 5th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have issued a buy rating to the company. Emerson Electric has an average rating of “Hold” and an average price target of $72.71.
Emerson Electric (NYSE:EMR) last released its quarterly earnings results on Tuesday, August 6th. The industrial products company reported $0.94 EPS for the quarter, meeting 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 business had revenue of $4.68 billion for the quarter, compared to analysts’ expectations of $4.82 billion. During the same period in the prior year, the firm earned $1.12 earnings per share. Emerson Electric’s revenue was up 5.1% compared to the same quarter last year. On average, analysts forecast that Emerson Electric Co. will post 3.64 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Friday, August 16th will be given a dividend of $0.49 per share. The ex-dividend date is Thursday, August 15th. This represents a $1.96 dividend on an annualized basis and a dividend yield of 3.47%. Emerson Electric’s dividend payout ratio is 57.99%.
In related news, VP Bell Katherine Button sold 15,791 shares of the firm’s stock in a transaction on Friday, June 7th. The shares were sold at an average price of $63.91, for a total transaction of $1,009,202.81. Following the sale, the vice president now directly owns 30,304 shares in the company, valued at $1,936,728.64. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Michael H. Train sold 12,278 shares of the firm’s stock in a transaction 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 sale, the insider now owns 129,298 shares in the company, valued at $8,249,212.40. The disclosure for this sale can be found here. Over the last three months, insiders have sold 40,333 shares of company stock worth $2,583,230. Insiders own 0.07% of the company’s stock.
Emerson Electric Company 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.
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