Montecito Bank & Trust lowered its stake in Emerson Electric Co. (NYSE:EMR) by 13.3% during the fourth quarter, Holdings Channel reports. The institutional investor owned 14,599 shares of the industrial products company’s stock after selling 2,247 shares during the quarter. Montecito Bank & Trust’s holdings in Emerson Electric were worth $873,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Csenge Advisory Group acquired a new position in Emerson Electric in the third quarter valued at about $28,000. Moody National Bank Trust Division purchased a new stake in Emerson Electric during the fourth quarter worth about $27,000. Massey Quick Simon & CO. LLC purchased a new stake in Emerson Electric during the fourth quarter worth about $30,000. Norway Savings Bank increased its stake in 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 during the period. Finally, IMS Capital Management purchased a new stake in Emerson Electric during the third quarter worth about $58,000. 71.14% of the stock is currently owned by institutional investors.
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EMR stock opened at $68.31 on Friday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.62 and a current ratio of 0.88. Emerson Electric Co. has a fifty-two week low of $55.38 and a fifty-two week high of $79.70. The company has a market cap of $41.98 billion, a P/E ratio of 20.21, a PEG ratio of 2.14 and a beta of 1.20.
Emerson Electric (NYSE:EMR) last released its earnings results on Tuesday, February 5th. The industrial products company reported $0.74 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.66 by $0.08. Emerson Electric had a net margin of 12.83% and a return on equity of 24.21%. The firm had revenue of $4.15 billion for the quarter, compared to analyst estimates of $4.21 billion. During the same period in the prior year, the firm earned $0.61 earnings per share. The business’s quarterly revenue was up 8.7% compared to the same quarter last year. Analysts anticipate that Emerson Electric Co. will post 3.7 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, March 11th. Investors of record on Friday, February 15th will be paid a dividend of $0.49 per share. The ex-dividend date of this dividend is Thursday, February 14th. This represents a $1.96 dividend on an annualized basis and a dividend yield of 2.87%. Emerson Electric’s payout ratio is 57.99%.
In related news, insider Surendralal Lanca Karsanbhai sold 9,070 shares of the company’s stock in a transaction that occurred on Wednesday, November 28th. The shares were sold at an average price of $68.00, for a total transaction of $616,760.00. Following the sale, the insider now directly owns 20,000 shares in the company, valued at $1,360,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.07% of the stock is currently owned by corporate insiders.
A number of brokerages have issued reports on EMR. Deutsche Bank set a $79.00 price target on shares of Emerson Electric and gave the stock a “buy” rating in a research note on Wednesday, November 7th. Cowen reiterated a “buy” rating and set a $81.00 price target on shares of Emerson Electric in a research note on Tuesday, November 6th. UBS Group set a $85.00 price target on shares of Emerson Electric and gave the stock a “buy” rating in a research note on Thursday, November 8th. William Blair reiterated a “market perform” rating on shares of Emerson Electric in a research note on Tuesday, November 6th. Finally, Berenberg Bank set a $67.00 price target on shares of Emerson Electric and gave the stock a “hold” rating in a research note on Monday, November 19th. Ten investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Emerson Electric has an average rating of “Buy” and an average target price of $76.28.
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Emerson Electric Company Profile
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.
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