SG Americas Securities LLC reduced its stake in Emerson Electric Co. (NYSE:EMR) by 14.5% during the second quarter, HoldingsChannel.com reports. The fund owned 124,894 shares of the industrial products company’s stock after selling 21,134 shares during the quarter. SG Americas Securities LLC’s holdings in Emerson Electric were worth $8,333,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Dimensional Fund Advisors LP raised its position in Emerson Electric by 3.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,910,281 shares of the industrial products company’s stock worth $114,137,000 after purchasing an additional 64,900 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Emerson Electric by 5.0% in the 4th quarter. Geode Capital Management LLC now owns 7,394,814 shares of the industrial products company’s stock worth $441,115,000 after acquiring an additional 355,369 shares in the last quarter. Millennium Management LLC raised its position in shares of Emerson Electric by 146.8% in the 4th quarter. Millennium Management LLC now owns 67,396 shares of the industrial products company’s stock worth $4,027,000 after acquiring an additional 40,090 shares in the last quarter. Legacy Advisors LLC bought a new position in shares of Emerson Electric in the 1st quarter worth about $41,000. Finally, North Star Investment Management Corp. raised its position in shares of Emerson Electric by 85.2% in the 1st quarter. North Star Investment Management Corp. now owns 17,688 shares of the industrial products company’s stock worth $1,211,000 after acquiring an additional 8,138 shares in the last quarter. Institutional investors own 70.17% of the company’s stock.
EMR has been the subject of several research analyst reports. Credit Suisse Group lowered their price objective on Emerson Electric from $74.00 to $70.00 and set an “outperform” rating for the company in a research report on Wednesday. Citigroup lowered their price objective on Emerson Electric from $79.00 to $77.00 and set a “buy” rating for the company in a research report on Tuesday, July 30th. 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 research report on Thursday. Cowen reissued a “buy” rating and issued a $72.00 price objective on shares of Emerson Electric in a research report on Friday. Finally, Deutsche Bank lowered their price objective on Emerson Electric from $74.00 to $73.00 and set a “buy” rating for the company in a research report on Monday, August 5th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and ten have given a buy rating to the company’s stock. Emerson Electric presently has a consensus rating of “Hold” and a consensus target price of $73.94.
Emerson Electric (NYSE:EMR) last issued its 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. The company had revenue of $4.68 billion during the quarter, compared to the consensus estimate of $4.82 billion. Emerson Electric had a return on equity of 24.67% and a net margin of 12.06%. The firm’s revenue for the quarter was up 5.1% compared to the same quarter last year. During the same period last year, the business posted $1.12 EPS. On average, research analysts forecast that Emerson Electric Co. will post 3.64 EPS for the current fiscal year.
The company also recently announced 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. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $1.96 annualized dividend and a dividend yield of 3.30%. Emerson Electric’s dividend payout ratio is presently 57.99%.
In other news, VP Bell Katherine Button sold 15,791 shares of the firm’s stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $63.91, for a total value of $1,009,202.81. Following the completion of the sale, the vice president now directly owns 30,304 shares in the company, valued at approximately $1,936,728.64. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Michael H. Train sold 12,278 shares of Emerson Electric stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $63.80, for a total value of $783,336.40. Following the transaction, the insider now owns 129,298 shares of the company’s stock, valued at approximately $8,249,212.40. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 40,333 shares of company stock valued at $2,583,230. 0.07% of the stock is currently owned by company insiders.
About Emerson Electric
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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