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OVERSEA CHINESE BANKING Corp Ltd Sells 39,741 Shares of Emerson Electric Co. (NYSE:EMR)

Emerson Electric logo with Industrials background

Key Points

  • OVERSEA CHINESE BANKING Corp Ltd significantly reduced its stake in Emerson Electric Co. by 77.5%, now holding 11,557 shares valued at approximately $1.27 million.
  • Emerson Electric recently reported an earnings per share (EPS) of $1.48, exceeding analyst estimates of $1.41, and had revenue of $4.43 billion for the quarter.
  • Several analysts have adjusted their ratings and target prices for Emerson Electric, with Citigroup raising its price target from $146.00 to $165.00 and maintaining a "buy" rating.
  • MarketBeat previews top five stocks to own in September.

OVERSEA CHINESE BANKING Corp Ltd decreased its position in shares of Emerson Electric Co. (NYSE:EMR - Free Report) by 77.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,557 shares of the industrial products company's stock after selling 39,741 shares during the period. OVERSEA CHINESE BANKING Corp Ltd's holdings in Emerson Electric were worth $1,267,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Clark Capital Management Group Inc. lifted its position in Emerson Electric by 7.7% during the 4th quarter. Clark Capital Management Group Inc. now owns 6,042 shares of the industrial products company's stock worth $749,000 after acquiring an additional 434 shares during the last quarter. World Investment Advisors raised its position in shares of Emerson Electric by 41.2% during the fourth quarter. World Investment Advisors now owns 20,823 shares of the industrial products company's stock valued at $2,581,000 after buying an additional 6,079 shares during the last quarter. First Horizon Advisors Inc. raised its position in shares of Emerson Electric by 2.7% during 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 buying an additional 5,504 shares during the last quarter. APG Asset Management N.V. raised its position in shares of Emerson Electric by 299.5% during the fourth quarter. APG Asset Management N.V. now owns 376,329 shares of the industrial products company's stock valued at $45,040,000 after buying an additional 282,126 shares during the last quarter. Finally, North Capital Inc. acquired a new position in shares of Emerson Electric during the first quarter valued at about $211,000. Institutional investors and hedge funds own 74.30% of the company's stock.

Insider Activity at Emerson Electric

In other news, CEO Surendralal Lanca Karsanbhai sold 16,698 shares of the stock in a transaction that occurred on Thursday, May 8th. The shares were 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 of the company's stock, valued at $18,694,576.81. This represents a 9.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.50% of the stock is owned by company insiders.

Emerson Electric Price Performance

Shares of NYSE EMR traded down $2.91 during mid-day trading on Tuesday, hitting $139.71. 597,520 shares of the stock were exchanged, compared to its average volume of 3,073,649. The company has a market cap of $78.59 billion, a P/E ratio of 33.40, a PEG ratio of 2.75 and a beta of 1.32. The stock's fifty day simple moving average is $134.13 and its two-hundred day simple moving average is $121.41. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.59 and a current ratio of 0.80. Emerson Electric Co. has a twelve month low of $90.06 and a twelve month high of $150.27.

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

Emerson Electric Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Friday, May 16th were paid a dividend of $0.5275 per share. This represents a $2.11 annualized dividend and a dividend yield of 1.5%. The ex-dividend date of this dividend was Friday, May 16th. Emerson Electric's dividend payout ratio is 50.48%.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Wells Fargo & Company upped their price objective on shares of Emerson Electric from $135.00 to $150.00 and gave the company an "overweight" rating in a research report on Tuesday, July 1st. Royal Bank Of Canada upped their price objective on shares of Emerson Electric from $123.00 to $124.00 and gave the company an "outperform" rating in a research report on Thursday, May 8th. Stephens upped their price objective on shares of Emerson Electric from $130.00 to $145.00 and gave the company an "equal weight" rating in a research report on Wednesday, July 16th. TD Cowen raised shares of Emerson Electric to a "strong-buy" rating in a research report on Tuesday, July 8th. Finally, JPMorgan Chase & Co. upped their target price on shares of Emerson Electric from $113.00 to $133.00 and gave the company a "neutral" rating in a research note on Friday, May 16th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $142.28.

Read Our Latest Stock Analysis on EMR

Emerson Electric Company 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.

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Institutional Ownership by Quarter for Emerson Electric (NYSE:EMR)

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