Equitable Trust Co. Sells 7,559 Shares of Emerson Electric Co. (NYSE:EMR)

Key Points

• Equitable Trust Co. significantly reduced its stake in Emerson Electric Co. by 59.1%, selling 7,559 shares and leaving them with 5,227 shares valued at approximately $573,000.
• Emerson Electric's CEO sold 16,698 shares at an average price of $113.33, decreasing his ownership by 9.19%, while holding a total of 164,957 shares valued at around $18.7 million.
• The company recently announced a quarterly dividend of $0.5275 per share, reflecting an annualized dividend yield of 1.41% and a payout ratio of 50.48%.

Equitable Trust Co. cut its holdings in shares of Emerson Electric Co. (NYSE:EMR - Free Report) by 59.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,227 shares of the industrial products company's stock after selling 7,559 shares during the period. Equitable Trust Co.'s holdings in Emerson Electric were worth $573,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Clark Capital Management Group Inc. lifted its holdings in Emerson Electric by 7.7% in the fourth quarter. Clark Capital Management Group Inc. now owns 6,042 shares of the industrial products company's stock valued at $749,000 after acquiring an additional 434 shares during the period. World Investment Advisors raised its stake in shares of Emerson Electric by 41.2% in the fourth quarter. World Investment Advisors now owns 20,823 shares of the industrial products company's stock worth $2,581,000 after buying an additional 6,079 shares during the period. Geode Capital Management LLC grew its stake in shares of Emerson Electric by 2.0% during the 4th quarter. Geode Capital Management LLC now owns 11,685,615 shares of the industrial products company's stock valued at $1,443,725,000 after acquiring an additional 232,540 shares during the period. StoneX Group Inc. raised its stake in Emerson Electric by 23.5% during the 4th quarter. StoneX Group Inc. now owns 32,927 shares of the industrial products company's stock worth $4,081,000 after acquiring an additional 6,264 shares during the period. Finally, First Horizon Advisors Inc. raised its stake in Emerson Electric by 2.7% during the 1st quarter. First Horizon Advisors Inc. now owns 212,252 shares of the industrial products company's stock worth $23,271,000 after acquiring an additional 5,504 shares during the period. 74.30% of the stock is owned by hedge funds and other institutional investors.

Emerson Electric Trading Down 0.8%

Shares of Emerson Electric stock traded down $1.17 on Wednesday, reaching $146.45. The company had a trading volume of 1,304,555 shares, compared to its average volume of 3,048,383. The firm has a market cap of $82.38 billion, a price-to-earnings ratio of 35.03, a P/E/G ratio of 2.90 and a beta of 1.29. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.80 and a quick ratio of 0.59. The firm's 50-day moving average price is $132.01 and its two-hundred day moving average price is $120.79. Emerson Electric Co. has a 1 year low of $90.06 and a 1 year high of $150.27.

Emerson Electric (NYSE:EMR - Get Free Report) last announced its earnings results on Wednesday, May 7th. The industrial products company reported $1.48 EPS for the quarter, topping analysts' consensus estimates of $1.41 by $0.07. Emerson Electric had a return on equity of 13.22% and a net margin of 13.60%. The firm had revenue of $4.43 billion during the quarter, compared to analysts' expectations of $4.42 billion. During the same quarter in the previous year, the business earned $1.36 EPS. The company's quarterly revenue was up 1.3% on a year-over-year basis. As a group, research analysts predict that Emerson Electric Co. will post 5.96 earnings per share for the current fiscal year.

Emerson Electric Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Friday, May 16th were given a dividend of $0.5275 per share. This represents a $2.11 dividend on an annualized basis and a yield of 1.44%. The ex-dividend date was Friday, May 16th. Emerson Electric's dividend payout ratio (DPR) is presently 50.48%.

Analyst Ratings Changes

A number of research firms have commented on EMR. TD Cowen upgraded shares of Emerson Electric to a "strong-buy" rating in a research note on Tuesday, July 8th. Wall Street Zen upgraded shares of Emerson Electric from a "hold" rating to a "buy" rating in a research note on Friday, May 9th. Bank of America lifted their target price on Emerson Electric from $130.00 to $155.00 and gave the company a "buy" rating in a research note on Wednesday, July 2nd. Barclays lifted their target price on Emerson Electric from $118.00 to $125.00 and gave the company an "underweight" rating in a research note on Wednesday, July 9th. Finally, Royal Bank Of Canada lifted their target price on Emerson Electric from $123.00 to $124.00 and gave the company an "outperform" rating in a research note on Thursday, May 8th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $142.28.

Insiders Place Their Bets

In other Emerson Electric news, CEO Surendralal Lanca Karsanbhai sold 16,698 shares of Emerson Electric stock in a transaction on Thursday, May 8th. The stock was sold at an average price of $113.33, for a total transaction of $1,892,384.34. Following the completion of the sale, the chief executive officer directly owned 164,957 shares of the company's stock, valued at $18,694,576.81. The trade was a 9.19% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.50% of the stock is currently owned by company insiders.

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.