Usca Ria LLC bought a new position in shares of Emerson Electric Co. (NYSE:EMR) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 71,140 shares of the industrial products company’s stock, valued at approximately $4,746,000. Emerson Electric accounts for 1.3% of Usca Ria LLC’s holdings, making the stock its 21st biggest holding.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in EMR. Glassman Wealth Services lifted its position in Emerson Electric by 240.7% during the first quarter. Glassman Wealth Services now owns 402 shares of the industrial products company’s stock worth $28,000 after buying an additional 284 shares during the period. Larson Financial Group LLC lifted its position in Emerson Electric by 80.3% during the second quarter. Larson Financial Group LLC now owns 440 shares of the industrial products company’s stock worth $29,000 after buying an additional 196 shares during the period. Harel Insurance Investments & Financial Services Ltd. purchased a new position in Emerson Electric during the first quarter worth about $34,000. Westside Investment Management Inc. purchased a new position in Emerson Electric during the second quarter worth about $34,000. Finally, Buffington Mohr McNeal purchased a new position in Emerson Electric during the first quarter worth about $41,000. Hedge funds and other institutional investors own 70.30% of the company’s stock.
In other news, insider Michael H. Train sold 12,278 shares of the stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $63.80, for a total value 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 transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Bell Katherine Button sold 4,470 shares of the stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $65.00, for a total value of $290,550.00. Following the completion of the sale, the vice president now owns 18,040 shares of the company’s stock, valued at approximately $1,172,600. The disclosure for this sale can be found here. In the last quarter, insiders sold 40,333 shares of company stock valued at $2,583,230. Insiders own 0.07% of the company’s stock.
Emerson Electric (NYSE:EMR) last released its quarterly earnings data on Tuesday, August 6th. The industrial products company reported $0.94 EPS for the quarter, hitting analysts’ consensus estimates of $0.94. Emerson Electric had a return on equity of 24.67% and a net margin of 12.06%. The company had revenue of $4.68 billion for the quarter, compared to the consensus estimate of $4.82 billion. During the same period last year, the business posted $1.12 EPS. The company’s quarterly revenue was up 5.1% compared to the same quarter last year. Sell-side analysts forecast that Emerson Electric Co. will post 3.64 EPS for the current year.
The business 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 dividend on an annualized basis and a dividend yield of 3.38%. Emerson Electric’s dividend payout ratio (DPR) is currently 57.99%.
Several research firms recently weighed in on EMR. Cowen reiterated a “buy” rating and set a $72.00 target price on shares of Emerson Electric in a research report on Friday, August 9th. Argus downgraded Emerson Electric from a “buy” rating to a “hold” rating in a research report on Tuesday, August 13th. Credit Suisse Group reduced their target price on Emerson Electric from $74.00 to $70.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 7th. Morgan Stanley reduced their target price on Emerson Electric from $84.00 to $76.00 and set an “overweight” rating on the stock in a research report on Thursday, August 8th. Finally, Zacks Investment Research downgraded 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 equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $72.71.
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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