ProVise Management Group LLC Reduces Stake in Emerson Electric Co. (EMR)

ProVise Management Group LLC reduced its position in Emerson Electric Co. (NYSE:EMR) by 68.0% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 42,218 shares of the industrial products company’s stock after selling 89,750 shares during the period. ProVise Management Group LLC’s holdings in Emerson Electric were worth $3,233,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently added to or reduced their stakes in EMR. Bay Colony Advisory Group Inc d b a Bay Colony Advisors purchased a new position in shares of Emerson Electric in the 2nd quarter worth $102,000. Kiley Juergens Wealth Management LLC purchased a new position in Emerson Electric during the second quarter valued at $105,000. Kaizen Advisory LLC lifted its position in Emerson Electric by 151.1% during the second quarter. Kaizen Advisory LLC now owns 1,539 shares of the industrial products company’s stock valued at $106,000 after purchasing an additional 926 shares in the last quarter. Tradewinds Capital Management LLC lifted its position in Emerson Electric by 584.1% during the third quarter. Tradewinds Capital Management LLC now owns 1,416 shares of the industrial products company’s stock valued at $108,000 after purchasing an additional 1,209 shares in the last quarter. Finally, FNY Investment Advisers LLC purchased a new position in Emerson Electric during the second quarter valued at $113,000. Hedge funds and other institutional investors own 70.33% of the company’s stock.

NYSE:EMR opened at $69.87 on Thursday. The company has a current ratio of 1.07, a quick ratio of 0.97 and a debt-to-equity ratio of 0.35. The stock has a market cap of $44.33 billion, a price-to-earnings ratio of 20.67, a price-to-earnings-growth ratio of 1.85 and a beta of 1.20. Emerson Electric Co. has a 52 week low of $57.47 and a 52 week high of $79.70.

Emerson Electric (NYSE:EMR) last posted its quarterly earnings results on Tuesday, November 6th. The industrial products company reported $0.89 EPS for the quarter, missing the Zacks’ consensus estimate of $0.92 by ($0.03). The business had revenue of $4.89 billion for the quarter, compared to the consensus estimate of $4.91 billion. Emerson Electric had a net margin of 12.65% and a return on equity of 23.06%. Emerson Electric’s revenue was up 10.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.83 earnings per share. As a group, analysts predict that Emerson Electric Co. will post 3.76 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 10th. Shareholders of record on Friday, November 16th will be issued a dividend of $0.49 per share. The ex-dividend date is Thursday, November 15th. This is a boost from Emerson Electric’s previous quarterly dividend of $0.49. This represents a $1.96 dividend on an annualized basis and a yield of 2.81%. Emerson Electric’s dividend payout ratio (DPR) is currently 57.40%.

Several research firms recently weighed in on EMR. Zacks Investment Research upgraded Emerson Electric from a “hold” rating to a “buy” rating and set a $78.00 target price on the stock in a research report on Thursday, July 19th. MED upgraded Emerson Electric from a “hold” rating to a “buy” rating and set a $81.00 target price on the stock in a research report on Thursday, July 12th. Cowen reiterated a “buy” rating and set a $81.00 target price on shares of Emerson Electric in a research report on Tuesday. Barclays lifted their target price on Emerson Electric from $80.00 to $85.00 and gave the company an “overweight” rating in a research report on Thursday, August 9th. Finally, Credit Suisse Group began coverage on Emerson Electric in a research report on Friday, October 12th. They set a “neutral” rating and a $78.00 target price on the stock. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and thirteen have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $78.57.

In other Emerson Electric news, VP Steven J. Pelch sold 6,409 shares of the firm’s stock in a transaction dated Tuesday, August 14th. The stock was sold at an average price of $74.24, for a total transaction of $475,804.16. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, President Edward L. Monser sold 60,000 shares of the firm’s stock in a transaction dated Monday, September 10th. The shares were sold at an average price of $76.10, for a total value of $4,566,000.00. Following the sale, the president now directly owns 176,477 shares in the company, valued at $13,429,899.70. The disclosure for this sale can be found here. Over the last three months, insiders have sold 96,409 shares of company stock worth $7,317,004. Insiders own 0.79% of the company’s stock.

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Emerson Electric Profile

Emerson Electric Co, a technology and engineering company, provides various solutions to industrial, commercial, and residential markets worldwide. The company's Automation Solutions segment offers software; measurement and analytical instrumentation; valves, actuators, and regulators; industry services and solutions; process control systems and solutions; and digital plant solutions.

See Also: Return on Investment (ROI)

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

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