Parsons Capital Management Inc. RI Sells 1,204 Shares of Emerson Electric Co. (NYSE:EMR)

Parsons Capital Management Inc. RI cut its stake in Emerson Electric Co. (NYSE:EMR) by 3.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 36,261 shares of the industrial products company’s stock after selling 1,204 shares during the period. Parsons Capital Management Inc. RI’s holdings in Emerson Electric were worth $2,419,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. FinTrust Capital Advisors LLC grew its holdings in shares of Emerson Electric by 68.2% in the second quarter. FinTrust Capital Advisors LLC now owns 2,291 shares of the industrial products company’s stock worth $153,000 after purchasing an additional 929 shares during the last quarter. Wright Investors Service Inc. grew its holdings in shares of Emerson Electric by 5.4% in the second quarter. Wright Investors Service Inc. now owns 23,869 shares of the industrial products company’s stock worth $1,592,000 after purchasing an additional 1,232 shares during the last quarter. Sigma Planning Corp grew its holdings in Emerson Electric by 10.8% during the 2nd quarter. Sigma Planning Corp now owns 24,770 shares of the industrial products company’s stock worth $1,653,000 after acquiring an additional 2,407 shares in the last quarter. Kavar Capital Partners LLC grew its holdings in Emerson Electric by 3.8% during the 2nd quarter. Kavar Capital Partners LLC now owns 33,389 shares of the industrial products company’s stock worth $2,228,000 after acquiring an additional 1,225 shares in the last quarter. Finally, Stephens Inc. AR grew its holdings in Emerson Electric by 5.3% during the 2nd quarter. Stephens Inc. AR now owns 97,999 shares of the industrial products company’s stock worth $6,539,000 after acquiring an additional 4,960 shares in the last quarter. Hedge funds and other institutional investors own 70.30% of the company’s stock.

In other news, VP Bell Katherine Button sold 15,791 shares of the firm’s stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $63.91, for a total value of $1,009,202.81. Following the sale, the vice president now directly owns 30,304 shares in the company, valued at approximately $1,936,728.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Michael H. Train sold 12,278 shares of the firm’s stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $63.80, for a total transaction of $783,336.40. Following the completion of 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. Insiders sold a total of 40,333 shares of company stock worth $2,583,230 over the last 90 days. Company insiders own 0.07% of the company’s stock.



Several research analysts have issued reports on the stock. Argus cut shares of Emerson Electric from a “buy” rating to a “hold” rating in a report on Tuesday. Credit Suisse Group dropped their target price on shares of Emerson Electric from $74.00 to $70.00 and set an “outperform” rating on the stock in a report on Wednesday, August 7th. Deutsche Bank dropped their target price on shares of Emerson Electric from $74.00 to $73.00 and set a “buy” rating on the stock in a report on Monday, August 5th. Citigroup dropped their target price on shares of Emerson Electric from $79.00 to $77.00 and set a “buy” rating on the stock in a report on Tuesday, July 30th. Finally, Morgan Stanley dropped their target price on shares of Emerson Electric from $84.00 to $76.00 and set an “overweight” rating on the stock in a report on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and eight have issued a buy rating to the stock. Emerson Electric currently has an average rating of “Hold” and an average target price of $72.71.

Emerson Electric stock traded down $1.07 during midday trading on Thursday, hitting $56.07. 2,724,039 shares of the company’s stock were exchanged, compared to its average volume of 3,202,078. The company has a current ratio of 1.18, a quick ratio of 0.85 and a debt-to-equity ratio of 0.49. Emerson Electric Co. has a 12 month low of $55.38 and a 12 month high of $79.70. The business’s 50-day moving average price is $64.25. The firm has a market cap of $34.94 billion, a P/E ratio of 16.59, a PEG ratio of 1.96 and a beta of 1.32.

Emerson Electric (NYSE:EMR) last released its quarterly earnings results on Tuesday, August 6th. The industrial products company reported $0.94 earnings per share for the quarter, meeting analysts’ consensus estimates 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 last year, the business earned $1.12 EPS. The company’s revenue was up 5.1% compared to the same quarter last year. As a group, sell-side analysts expect 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 issued a $0.49 dividend. This represents a $1.96 dividend on an annualized basis and a dividend yield of 3.50%. The ex-dividend date of this dividend is Thursday, August 15th. Emerson Electric’s dividend payout ratio is currently 57.99%.

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.

Featured Story: What type of investment options does a Roth IRA provide?

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

Receive News & Ratings for Emerson Electric Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Emerson Electric and related companies with MarketBeat.com's FREE daily email newsletter.