McKinley Carter Wealth Services Inc. boosted its holdings in Emerson Electric Co. (NYSE:EMR) by 10.2% in the second quarter, Holdings Channel reports. The institutional investor owned 9,503 shares of the industrial products company’s stock after acquiring an additional 882 shares during the quarter. McKinley Carter Wealth Services Inc.’s holdings in Emerson Electric were worth $634,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also added to or reduced their stakes in the company. Glassman Wealth Services lifted its holdings in shares of Emerson Electric by 240.7% during the 1st quarter. Glassman Wealth Services now owns 402 shares of the industrial products company’s stock worth $28,000 after acquiring an additional 284 shares during the last quarter. Larson Financial Group LLC lifted its stake in Emerson Electric by 80.3% in the second quarter. Larson Financial Group LLC now owns 440 shares of the industrial products company’s stock worth $29,000 after purchasing an additional 196 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. bought a new stake in Emerson Electric in the first quarter worth $34,000. Westside Investment Management Inc. bought a new stake in Emerson Electric in the second quarter worth $34,000. Finally, Buffington Mohr McNeal bought a new stake in Emerson Electric in the first quarter worth $41,000. Institutional investors and hedge funds own 70.30% of the company’s stock.
Several analysts have weighed in on the stock. Morgan Stanley lowered their price target on shares of Emerson Electric from $84.00 to $76.00 and set an “overweight” rating for the company in a research note on Thursday, August 8th. Credit Suisse Group lowered their price target on shares of Emerson Electric from $74.00 to $70.00 and set an “outperform” rating for the company in a research note on Wednesday, August 7th. Argus downgraded shares of Emerson Electric from a “buy” rating to a “hold” rating in a research note on Tuesday, August 13th. Zacks Investment Research downgraded shares of Emerson Electric from a “hold” rating to a “sell” rating and set a $69.00 price target for the company. in a research note on Tuesday, July 23rd. Finally, Deutsche Bank lowered their price target on shares of Emerson Electric from $74.00 to $73.00 and set a “buy” rating for the company in a research note on Monday, August 5th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $72.71.
Emerson Electric (NYSE:EMR) last issued its quarterly earnings data on Tuesday, August 6th. The industrial products company reported $0.94 EPS for the quarter, meeting the consensus estimate of $0.94. The firm had revenue of $4.68 billion during the quarter, compared to the consensus estimate of $4.82 billion. Emerson Electric had a net margin of 12.06% and a return on equity of 24.67%. The company’s quarterly revenue was up 5.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.12 earnings per share. As a group, sell-side analysts forecast that Emerson Electric Co. will post 3.64 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Friday, August 16th will be paid a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a dividend yield of 3.38%. The ex-dividend date is Thursday, August 15th. Emerson Electric’s dividend payout ratio (DPR) is 57.99%.
In other news, insider Michael H. Train sold 12,278 shares of the company’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 transaction, the insider now directly owns 129,298 shares of the company’s stock, valued at $8,249,212.40. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Bell Katherine Button sold 15,791 shares of the company’s stock in a transaction dated 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 transaction, the vice president now directly owns 30,304 shares of the company’s stock, valued at $1,936,728.64. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 40,333 shares of company stock valued at $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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