Longbow Finance SA Sells 12,496 Shares of Emerson Electric Co. (NYSE:EMR)

Key Points

• Longbow Finance SA reduced its stake in Emerson Electric Co. by 17.7%, now holding 58,192 shares worth approximately $6.38 million.
• Emerson Electric reported a quarterly EPS of $1.48, exceeding estimates, with revenues of $4.43 billion, marking a 1.3% year-over-year increase.
• The company announced a quarterly dividend of $0.5275 per share, representing a 1.44% yield with a payout ratio of 50.48%.

Longbow Finance SA lowered its stake in Emerson Electric Co. (NYSE:EMR - Free Report) by 17.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 58,192 shares of the industrial products company's stock after selling 12,496 shares during the quarter. Longbow Finance SA's holdings in Emerson Electric were worth $6,380,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Orion Capital Management LLC purchased a new position in Emerson Electric in the 4th quarter worth about $25,000. Vega Investment Solutions purchased a new position in Emerson Electric during the 4th quarter valued at about $27,000. Murphy & Mullick Capital Management Corp purchased a new position in Emerson Electric during the 4th quarter valued at about $28,000. Ameriflex Group Inc. purchased a new position in Emerson Electric during the 4th quarter valued at about $30,000. Finally, Inlight Wealth Management LLC purchased a new position in Emerson Electric during the 1st quarter valued at about $28,000. Hedge funds and other institutional investors own 74.30% of the company's stock.

Insider Activity

In other news, CEO Surendralal Lanca Karsanbhai sold 16,698 shares of the business's stock in a transaction that occurred 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 sale, the chief executive officer directly owned 164,957 shares in the company, valued at approximately $18,694,576.81. The trade was a 9.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.50% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. 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. KeyCorp lifted their target price on Emerson Electric from $150.00 to $155.00 and gave the company an "overweight" rating in a research note on Tuesday, July 1st. Stephens lifted their price target on Emerson Electric from $130.00 to $145.00 and gave the company an "equal weight" rating in a report on Wednesday, July 16th. Wells Fargo & Company lifted their price target on Emerson Electric from $135.00 to $150.00 and gave the company an "overweight" rating in a report on Tuesday, July 1st. Finally, JPMorgan Chase & Co. lifted their price target on Emerson Electric from $113.00 to $133.00 and gave the company a "neutral" rating in a report on Friday, May 16th. Two analysts have rated the stock with a sell rating, four have issued a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $142.28.

Emerson Electric Stock Performance

NYSE EMR traded down $0.33 during trading on Monday, hitting $149.31. The company's stock had a trading volume of 1,340,026 shares, compared to its average volume of 3,050,417. The company has a quick ratio of 0.59, a current ratio of 0.80 and a debt-to-equity ratio of 0.42. The firm has a 50 day moving average price of $130.82 and a 200 day moving average price of $120.38. The firm has a market cap of $83.98 billion, a P/E ratio of 35.72, a price-to-earnings-growth ratio of 2.90 and a beta of 1.29. Emerson Electric Co. has a 52 week low of $90.06 and a 52 week high of $149.84.

Emerson Electric (NYSE:EMR - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The industrial products company reported $1.48 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.41 by $0.07. The business had revenue of $4.43 billion for the quarter, compared to analysts' expectations of $4.42 billion. Emerson Electric had a return on equity of 13.22% and a net margin of 13.60%. Emerson Electric's quarterly revenue was up 1.3% on a year-over-year basis. During the same period in the previous year, the business posted $1.36 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 company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders 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 dividend yield of 1.41%. The ex-dividend date of this dividend was Friday, May 16th. Emerson Electric's dividend payout ratio is presently 50.48%.

Emerson Electric 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.