Ergoteles LLC Sells 224,455 Shares of Emerson Electric Co. (NYSE:EMR)
Ergoteles LLC decreased its holdings in Emerson Electric Co. (NYSE:EMR – Free Report) by 91.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 22,129 shares of the industrial products company’s stock after selling 224,455 shares during the quarter. Ergoteles LLC’s holdings in Emerson Electric were worth $2,000,000 at the end of the most recent reporting period.
Several other institutional investors also recently modified their holdings of EMR. Bank Julius Baer & Co. Ltd Zurich grew its stake in shares of Emerson Electric by 94,950.7% in the second quarter. Bank Julius Baer & Co. Ltd Zurich now owns 96,464,073 shares of the industrial products company’s stock worth $8,719,388,000 after purchasing an additional 96,362,586 shares during the last quarter. Moneta Group Investment Advisors LLC grew its stake in shares of Emerson Electric by 105,280.8% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 54,417,593 shares of the industrial products company’s stock worth $5,227,354,000 after purchasing an additional 54,365,954 shares during the last quarter. Norges Bank bought a new stake in shares of Emerson Electric in the fourth quarter worth $702,606,000. Morgan Stanley boosted its position in Emerson Electric by 28.4% during the fourth quarter. Morgan Stanley now owns 11,835,398 shares of the industrial products company’s stock valued at $1,136,909,000 after acquiring an additional 2,621,089 shares during the last quarter. Finally, Two Sigma Advisers LP boosted its position in Emerson Electric by 103.9% during the first quarter. Two Sigma Advisers LP now owns 3,045,900 shares of the industrial products company’s stock valued at $265,420,000 after acquiring an additional 1,551,800 shares during the last quarter. Institutional investors own 72.02% of the company’s stock.
Emerson Electric Price Performance
Shares of NYSE EMR opened at $89.55 on Monday. Emerson Electric Co. has a fifty-two week low of $76.94 and a fifty-two week high of $100.62. The stock has a market cap of $51.05 billion, a price-to-earnings ratio of 3.91, a PEG ratio of 1.53 and a beta of 1.32. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.35 and a current ratio of 2.75. The firm’s 50-day simple moving average is $90.49 and its 200 day simple moving average is $91.56.
Emerson Electric (NYSE:EMR – Get Free Report) last announced its quarterly earnings results on Tuesday, November 7th. The industrial products company reported $1.29 earnings per share for the quarter, missing the consensus estimate of $1.30 by ($0.01). Emerson Electric had a net margin of 87.17% and a return on equity of 11.78%. The business had revenue of $4.09 billion during the quarter, compared to the consensus estimate of $4.20 billion. During the same period in the previous year, the business posted $1.53 EPS. Emerson Electric’s revenue was up 5.1% compared to the same quarter last year. As a group, research analysts anticipate that Emerson Electric Co. will post 5.25 earnings per share for the current fiscal year.
Emerson Electric Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, December 11th. Shareholders of record on Friday, November 17th will be given a dividend of $0.525 per share. The ex-dividend date of this dividend is Thursday, November 16th. This represents a $2.10 annualized dividend and a dividend yield of 2.35%. This is a boost from Emerson Electric’s previous quarterly dividend of $0.52. Emerson Electric’s dividend payout ratio (DPR) is currently 9.16%.
Insiders Place Their Bets
In other news, CEO Surendralal Lanca Karsanbhai bought 10,000 shares of the company’s stock in a transaction on Friday, November 17th. The shares were purchased at an average price of $88.20 per share, with a total value of $882,000.00. Following the transaction, the chief executive officer now directly owns 148,542 shares in the company, valued at $13,101,404.40. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. In related news, Director Arthur F. Golden purchased 3,000 shares of the firm’s stock in a transaction dated Wednesday, November 8th. The stock was bought at an average price of $85.64 per share, for a total transaction of $256,920.00. Following the purchase, the director now directly owns 97,504 shares in the company, valued at approximately $8,350,242.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Surendralal Lanca Karsanbhai purchased 10,000 shares of the firm’s stock in a transaction dated Friday, November 17th. The shares were bought at an average price of $88.20 per share, with a total value of $882,000.00. Following the purchase, the chief executive officer now owns 148,542 shares in the company, valued at $13,101,404.40. The disclosure for this purchase can be found here. Insiders own 0.33% of the company’s stock.
Analyst Upgrades and Downgrades
A number of analysts have commented on the stock. Royal Bank of Canada cut their price target on shares of Emerson Electric from $109.00 to $106.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 8th. Wells Fargo & Company cut their price target on shares of Emerson Electric from $110.00 to $105.00 in a research report on Monday, October 9th. Citigroup cut their price target on shares of Emerson Electric from $112.00 to $109.00 and set a “buy” rating on the stock in a research report on Wednesday, November 8th. Stephens cut their price target on shares of Emerson Electric from $120.00 to $105.00 and set an “overweight” rating on the stock in a research report on Friday, November 10th. Finally, StockNews.com cut shares of Emerson Electric from a “buy” rating to a “hold” rating in a research report on Friday, November 10th. Five analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $104.61.
Check Out Our Latest Analysis on Emerson Electric
Emerson Electric Profile (Free Report)
Emerson Electric Co, a technology and software company, provides various solutions for customers in industrial, commercial, and consumer markets in the Americas, Asia, the Middle East, Africa, and Europe. It operates in six segments: Final Control, Control Systems & Software, Measurement & Analytical, AspenTech, Discrete Automation, and Safety & Productivity.
Further Reading
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Original: MarketBeat News Feed: Ergoteles LLC Sells 224,455 Shares of Emerson Electric Co. (NYSE:EMR)