Glenview Trust co Sells 109,473 Shares of Emerson Electric Co. $EMR

Key Points

• Glenview Trust Co. sold 109,473 shares of Emerson Electric, reducing its holdings by 49.8% in the first quarter, leaving them with a total of 110,510 shares valued at approximately $12.12 million.
• Emerson Electric recently reported a Q2 EPS of $1.52, surpassing estimates, with a net revenue of $4.55 billion but falling short of expectations by $0.05 billion.
• The company announced a quarterly dividend of $0.5275, with the annualized yield reaching 1.6%, and has a dividend payout ratio (DPR) of 45.38%.

Glenview Trust co reduced its holdings in shares of Emerson Electric Co. (NYSE:EMR - Free Report) by 49.8% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 110,510 shares of the industrial products company's stock after selling 109,473 shares during the quarter. Glenview Trust co's holdings in Emerson Electric were worth $12,116,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. First Horizon Advisors Inc. raised its position in Emerson Electric by 2.7% in the first quarter. First Horizon Advisors Inc. now owns 212,252 shares of the industrial products company's stock valued at $23,271,000 after purchasing an additional 5,504 shares during the last quarter. North Capital Inc. bought a new position in Emerson Electric in the first quarter valued at about $211,000. Zurich Insurance Group Ltd FI bought a new position in Emerson Electric in the fourth quarter valued at about $3,003,000. Golden State Equity Partners bought a new position in Emerson Electric in the first quarter valued at about $459,000. Finally, Truist Financial Corp raised its position in Emerson Electric by 1.7% in the first quarter. Truist Financial Corp now owns 1,078,616 shares of the industrial products company's stock valued at $118,259,000 after purchasing an additional 18,069 shares during the last quarter. 74.30% of the stock is currently owned by institutional investors.

Emerson Electric Trading Down 0.4%

NYSE EMR opened at $132.14 on Wednesday. The business has a 50 day simple moving average of $137.50 and a 200 day simple moving average of $122.52. Emerson Electric Co. has a one year low of $90.06 and a one year high of $150.27. The stock has a market capitalization of $74.37 billion, a P/E ratio of 28.42, a P/E/G ratio of 2.59 and a beta of 1.30. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.85 and a quick ratio of 0.63.

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

Emerson Electric Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on EMR. Bank of America raised their price objective on Emerson Electric from $130.00 to $155.00 and gave the stock a "buy" rating in a research report on Wednesday, July 2nd. Wells Fargo & Company raised their price objective on Emerson Electric from $135.00 to $150.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 1st. Citigroup raised their price objective on Emerson Electric from $146.00 to $165.00 and gave the stock 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 raised their price objective for the stock from $125.00 to $127.00 in a research report on Thursday, August 7th. Finally, KeyCorp raised their price objective on Emerson Electric from $150.00 to $155.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 1st. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $142.39.

About Emerson Electric

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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