Sabal Trust CO trimmed its holdings in shares of Emerson Electric Co. (NYSE:EMR - Free Report) by 70.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,300 shares of the industrial products company's stock after selling 10,234 shares during the period. Sabal Trust CO's holdings in Emerson Electric were worth $471,000 at the end of the most recent reporting period.
Other hedge funds have also modified their holdings of the company. Orion Capital Management LLC purchased a new stake in Emerson Electric during the fourth quarter worth about $25,000. Vega Investment Solutions acquired a new stake in shares of Emerson Electric during the 4th quarter valued at approximately $27,000. Murphy & Mullick Capital Management Corp purchased a new stake in shares of Emerson Electric during the 4th quarter worth approximately $28,000. Ameriflex Group Inc. acquired a new stake in shares of Emerson Electric in the 4th quarter worth approximately $30,000. Finally, Inlight Wealth Management LLC acquired a new position in Emerson Electric during the first quarter worth $28,000. 74.30% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several research firms have weighed in on EMR. Wall Street Zen raised Emerson Electric from a "hold" rating to a "buy" rating in a report on Friday, May 9th. JPMorgan Chase & Co. boosted their price objective on shares of Emerson Electric from $113.00 to $133.00 and gave the stock a "neutral" rating in a research report on Friday, May 16th. Barclays raised their target price on shares of Emerson Electric from $112.00 to $118.00 and gave the company an "underweight" rating in a report on Monday, June 9th. Robert W. Baird reduced their price target on shares of Emerson Electric from $140.00 to $130.00 and set a "neutral" rating on the stock in a report on Thursday, May 8th. Finally, KeyCorp raised their price objective on shares of Emerson Electric from $125.00 to $150.00 and gave the stock an "overweight" rating in a research note on Friday, June 13th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $136.47.
Get Our Latest Analysis on EMR
Insiders Place Their Bets
In other Emerson Electric news, CEO Surendralal Lanca Karsanbhai sold 16,698 shares of the company's stock in a transaction dated 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 now directly owns 164,957 shares in the company, valued at $18,694,576.81. This represents a 9.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.50% of the stock is currently owned by insiders.
Emerson Electric Trading Up 0.3%
Shares of Emerson Electric stock traded up $0.43 during trading hours on Friday, reaching $133.16. 4,286,946 shares of the company's stock were exchanged, compared to its average volume of 2,986,512. The firm has a market capitalization of $74.90 billion, a price-to-earnings ratio of 31.86, a price-to-earnings-growth ratio of 2.56 and a beta of 1.28. The company has a current ratio of 0.80, a quick ratio of 0.59 and a debt-to-equity ratio of 0.42. Emerson Electric Co. has a 52-week low of $90.06 and a 52-week high of $134.85. The company has a fifty day moving average of $117.60 and a 200-day moving average of $118.21.
Emerson Electric (NYSE:EMR - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The industrial products company reported $1.48 earnings per share (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 for the quarter, compared to analyst estimates of $4.42 billion. During the same period last year, the company earned $1.36 EPS. The firm's quarterly revenue was up 1.3% on a year-over-year basis. Sell-side 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. Investors of record on Friday, May 16th were given a dividend of $0.5275 per share. This represents a $2.11 annualized dividend and a yield of 1.58%. The ex-dividend date of this dividend was Friday, May 16th. Emerson Electric's dividend payout ratio (DPR) is 50.48%.
Emerson Electric Profile
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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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