Chemung Canal Trust Co. Sells 16,914 Shares of Emerson Electric Co. $EMR

Key Points

• Chemung Canal Trust Co. has reduced its holdings in Emerson Electric Co. by 21.6%, selling 16,914 shares and now owning 61,216 shares valued at approximately $8.16 million.
• Emerson Electric reported $1.52 EPS for the most recent quarter, exceeding analysts' expectations, along with a 3.9% year-over-year revenue growth.
• The company announced a quarterly dividend of $0.5275 per share, yielding approximately 1.6% on an annualized basis.

Chemung Canal Trust Co. reduced its holdings in Emerson Electric Co. (NYSE:EMR - Free Report) by 21.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 61,216 shares of the industrial products company's stock after selling 16,914 shares during the period. Emerson Electric makes up about 1.7% of Chemung Canal Trust Co.'s investment portfolio, making the stock its 18th largest position. Chemung Canal Trust Co.'s holdings in Emerson Electric were worth $8,162,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Capital City Trust Co. FL increased its position in shares of Emerson Electric by 5.7% during the second quarter. Capital City Trust Co. FL now owns 16,366 shares of the industrial products company's stock valued at $2,182,000 after purchasing an additional 887 shares during the period. Wealthcare Advisory Partners LLC increased its position in shares of Emerson Electric by 4.3% during the second quarter. Wealthcare Advisory Partners LLC now owns 21,133 shares of the industrial products company's stock valued at $2,818,000 after purchasing an additional 869 shares during the period. Hill Island Financial LLC bought a new stake in shares of Emerson Electric during the second quarter valued at approximately $249,000. Compass Financial Group INC SD bought a new stake in shares of Emerson Electric during the second quarter valued at approximately $215,000. Finally, Talbot Financial LLC increased its position in shares of Emerson Electric by 32.8% during the second quarter. Talbot Financial LLC now owns 101,083 shares of the industrial products company's stock valued at $13,477,000 after purchasing an additional 24,941 shares during the period. 74.30% of the stock is currently owned by institutional investors.

Emerson Electric Price Performance

Emerson Electric stock opened at $134.79 on Friday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.63 and a current ratio of 0.85. The firm has a market cap of $75.86 billion, a P/E ratio of 28.99, a P/E/G ratio of 2.37 and a beta of 1.29. The business's fifty day moving average is $134.13 and its two-hundred day moving average is $124.64. Emerson Electric Co. has a 52 week low of $90.06 and a 52 week high of $150.27.

Emerson Electric (NYSE:EMR - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The industrial products company reported $1.52 EPS for the quarter, topping analysts' consensus estimates of $1.51 by $0.01. The company had revenue of $4.55 billion for the quarter, compared to analyst estimates of $4.60 billion. Emerson Electric had a return on equity of 14.34% and a net margin of 14.92%.The business's revenue was up 3.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.43 earnings per share. Equities research analysts forecast that Emerson Electric Co. will post 5.96 earnings per share for the current fiscal year.

Emerson Electric Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Friday, August 15th were paid a $0.5275 dividend. The ex-dividend date of this dividend was Friday, August 15th. This represents a $2.11 dividend on an annualized basis and a yield of 1.6%. Emerson Electric's payout ratio is currently 45.38%.

Wall Street Analysts Forecast Growth

EMR has been the topic of a number of research reports. Bank of America boosted their price objective on Emerson Electric from $130.00 to $155.00 and gave the company a "buy" rating in a research report on Wednesday, July 2nd. Citigroup boosted their price objective on Emerson Electric from $146.00 to $165.00 and gave the company a "buy" rating in a research report on Monday, July 14th. Barclays upgraded Emerson Electric from an "underweight" rating to an "equal weight" rating and upped their price target for the company from $125.00 to $127.00 in a research report on Thursday, August 7th. Daiwa Capital Markets upped their price target on Emerson Electric from $150.00 to $153.00 and gave the company an "outperform" rating in a research report on Wednesday, September 24th. Finally, TD Cowen upgraded Emerson Electric to a "strong-buy" rating in a research report on Tuesday, July 8th. Two analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, Emerson Electric has an average rating of "Moderate Buy" and an average price target of $144.88.

Emerson Electric Company Profile

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.

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