Sheaff Brock Investment Advisors LLC reduced its holdings in Emerson Electric Co. (NYSE:EMR) by 4.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,023 shares of the industrial products company’s stock after selling 499 shares during the period. Sheaff Brock Investment Advisors LLC’s holdings in Emerson Electric were worth $669,000 at the end of the most recent reporting period.
A number of other institutional investors have also made changes to their positions in EMR. BlackRock Inc. lifted its stake in Emerson Electric by 7.3% in the 1st quarter. BlackRock Inc. now owns 45,135,139 shares of the industrial products company’s stock worth $3,090,402,000 after acquiring an additional 3,058,256 shares in the last quarter. Ronna Sue Cohen lifted its stake in Emerson Electric by 6,770.7% in the 1st quarter. Ronna Sue Cohen now owns 1,540,414 shares of the industrial products company’s stock worth $1,540,000 after acquiring an additional 1,517,994 shares in the last quarter. American Century Companies Inc. lifted its stake in Emerson Electric by 46.4% in the 1st quarter. American Century Companies Inc. now owns 2,708,094 shares of the industrial products company’s stock worth $185,423,000 after acquiring an additional 858,733 shares in the last quarter. Thoroughbred Financial Services LLC lifted its stake in Emerson Electric by 6,809.9% in the 2nd quarter. Thoroughbred Financial Services LLC now owns 521,694 shares of the industrial products company’s stock worth $52,169,000 after acquiring an additional 514,144 shares in the last quarter. Finally, Geode Capital Management LLC lifted its stake in 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. 70.30% of the stock is owned by hedge funds and other institutional investors.
EMR stock traded down $1.92 during mid-day trading on Wednesday, hitting $57.27. The stock had a trading volume of 196,318 shares, compared to its average volume of 3,270,241. The company has a quick ratio of 0.85, a current ratio of 1.18 and a debt-to-equity ratio of 0.49. Emerson Electric Co. has a 1-year low of $55.38 and a 1-year high of $79.70. The business’s fifty day moving average price is $64.41. The stock has a market cap of $36.56 billion, a PE ratio of 17.04, a price-to-earnings-growth ratio of 2.00 and a beta of 1.32.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Friday, August 16th will be issued a dividend of $0.49 per share. This represents a $1.96 dividend on an annualized basis and a dividend yield of 3.42%. The ex-dividend date of this dividend is Thursday, August 15th. Emerson Electric’s dividend payout ratio is 57.99%.
EMR has been the subject of several research analyst reports. Credit Suisse Group reduced their price objective on Emerson Electric from $74.00 to $70.00 and set an “outperform” rating for the company in a research note on Wednesday, August 7th. Morgan Stanley reduced their price objective on Emerson Electric from $84.00 to $76.00 and set an “overweight” rating for the company in a research note on Thursday, August 8th. Citigroup reduced their price objective on Emerson Electric from $79.00 to $77.00 and set a “buy” rating for the company in a research note on Tuesday, July 30th. Deutsche Bank dropped their target price on Emerson Electric from $74.00 to $73.00 and set a “buy” rating on the stock in a research report on Monday, August 5th. Finally, Zacks Investment Research lowered Emerson Electric from a “hold” rating to a “sell” rating and set a $69.00 target price on the stock. in a research report on Tuesday, July 23rd. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $73.40.
In other news, VP Bell Katherine Button sold 4,470 shares of the stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $65.00, for a total transaction of $290,550.00. Following the transaction, the vice president now owns 18,040 shares of the company’s stock, valued at approximately $1,172,600. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Michael H. Train sold 12,278 shares of the 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 directly owns 129,298 shares in the company, valued at approximately $8,249,212.40. The disclosure for this sale can be found here. In the last three months, insiders have sold 40,333 shares of company stock worth $2,583,230. 0.07% of the stock is currently owned by 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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