State Treasurer State of Michigan reduced its stake in shares of Emerson Electric Co. (NYSE:EMR) by 4.3% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 179,223 shares of the industrial products company’s stock after selling 8,000 shares during the period. State Treasurer State of Michigan’s holdings in Emerson Electric were worth $10,709,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Moody National Bank Trust Division acquired a new position in shares of Emerson Electric during the fourth quarter worth $27,000. Csenge Advisory Group acquired a new position in shares of Emerson Electric during the third quarter worth $28,000. Massey Quick Simon & CO. LLC acquired a new position in shares of Emerson Electric during the fourth quarter worth $30,000. Norway Savings Bank grew its stake in shares of Emerson Electric by 60.1% during the fourth quarter. Norway Savings Bank now owns 533 shares of the industrial products company’s stock worth $32,000 after purchasing an additional 200 shares in the last quarter. Finally, Mackey Komara & Dankovich LLC acquired a new position in shares of Emerson Electric during the fourth quarter worth $48,000. 71.14% of the stock is currently owned by institutional investors.
In other news, insider Surendralal Lanca Karsanbhai sold 9,070 shares of the business’s stock in a transaction dated Wednesday, November 28th. The shares were sold at an average price of $68.00, for a total transaction of $616,760.00. Following the transaction, the insider now directly owns 20,000 shares in the company, valued at $1,360,000. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.07% of the company’s stock.
Shares of NYSE:EMR traded down $0.12 on Monday, reaching $66.62. The company’s stock had a trading volume of 47,826 shares, compared to its average volume of 4,107,377. Emerson Electric Co. has a 52-week low of $55.38 and a 52-week high of $79.70. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.62 and a current ratio of 0.88. The stock has a market capitalization of $41.02 billion, a price-to-earnings ratio of 19.76, a PEG ratio of 2.10 and a beta of 1.20.
Emerson Electric (NYSE:EMR) last announced its earnings results on Tuesday, February 5th. The industrial products company reported $0.74 EPS for the quarter, beating analysts’ consensus estimates of $0.66 by $0.08. Emerson Electric had a net margin of 12.83% and a return on equity of 24.21%. The business had revenue of $4.15 billion during the quarter, compared to analysts’ expectations of $4.21 billion. During the same period in the prior year, the company earned $0.61 earnings per share. The business’s revenue was up 8.7% compared to the same quarter last year. As a group, research analysts forecast that Emerson Electric Co. will post 3.7 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, March 11th. Stockholders of record on Friday, February 15th will be paid a dividend of $0.49 per share. The ex-dividend date is Thursday, February 14th. This represents a $1.96 dividend on an annualized basis and a dividend yield of 2.94%. Emerson Electric’s dividend payout ratio (DPR) is 57.99%.
A number of equities analysts recently commented on the stock. Citigroup upgraded shares of Emerson Electric from a “sell” rating to a “neutral” rating and set a $66.00 target price for the company in a research note on Monday, January 14th. Gordon Haskett cut shares of Emerson Electric from a “buy” rating to a “hold” rating in a research report on Wednesday, December 12th. Stephens reissued a “buy” rating and issued a $68.00 price target on shares of Emerson Electric in a research report on Sunday, January 6th. Cowen reissued a “buy” rating and issued a $81.00 price target on shares of Emerson Electric in a research report on Tuesday, November 6th. Finally, Zacks Investment Research cut shares of Emerson Electric from a “hold” rating to a “sell” rating in a research report on Tuesday, November 13th. Ten analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $76.28.
About Emerson Electric
Emerson Electric Co, a technology and engineering company, provides various solutions to industrial, commercial, and consumer markets worldwide. The company's Automation Solutions segment offers products and integrated solutions, including measurement and analytical instrumentation; valves, actuators, and regulators; industrial solutions; and process control systems and solutions.
Further Reading: What is the balance sheet?