Ledyard National Bank lifted its holdings in Emerson Electric Co. (NYSE:EMR) by 4.8% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 80,091 shares of the industrial products company’s stock after purchasing an additional 3,636 shares during the period. Ledyard National Bank’s holdings in Emerson Electric were worth $5,343,000 as of its most recent filing with the SEC.
Several other institutional investors have also bought and sold shares of the company. Glassman Wealth Services increased its stake in Emerson Electric by 240.7% during the first quarter. Glassman Wealth Services now owns 402 shares of the industrial products company’s stock valued at $28,000 after acquiring an additional 284 shares during the period. Larson Financial Group LLC increased its stake in Emerson Electric by 80.3% during the second quarter. Larson Financial Group LLC now owns 440 shares of the industrial products company’s stock valued at $29,000 after acquiring an additional 196 shares during the period. Harel Insurance Investments & Financial Services Ltd. bought a new position in Emerson Electric during the first quarter valued at about $34,000. Westside Investment Management Inc. bought a new position in Emerson Electric during the second quarter valued at about $34,000. Finally, Legacy Advisors LLC bought a new position in Emerson Electric during the first quarter valued at about $41,000. Institutional investors and hedge funds own 70.17% of the company’s stock.
Several equities analysts recently issued reports on EMR shares. Deutsche Bank lowered their price target on Emerson Electric from $74.00 to $73.00 and set a “buy” rating on the stock in a research note on Monday. Zacks Investment Research lowered Emerson Electric from a “hold” rating to a “sell” rating and set a $69.00 price target on the stock. in a research note on Tuesday, July 23rd. Credit Suisse Group lowered their price target on Emerson Electric from $80.00 to $74.00 and set an “outperform” rating on the stock in a research note on Wednesday, June 5th. Finally, Citigroup lowered their price target on Emerson Electric from $79.00 to $77.00 and set a “buy” rating on the stock in a research note on Tuesday, July 30th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and ten have issued a buy rating to the company. Emerson Electric presently has an average rating of “Hold” and an average price target of $74.81.
Emerson Electric (NYSE:EMR) last released its quarterly earnings data on Tuesday, August 6th. The industrial products company reported $0.94 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.94. The company had revenue of $4.68 billion for the quarter, compared to the consensus estimate of $4.82 billion. Emerson Electric had a return on equity of 24.63% and a net margin of 12.81%. The company’s quarterly revenue was up 5.1% on a year-over-year basis. During the same period in the previous year, the business earned $1.12 earnings per share. Equities analysts expect that Emerson Electric Co. will post 3.63 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Friday, August 16th will be issued a dividend of $0.49 per share. This represents a $1.96 dividend on an annualized basis and a yield of 3.31%. Emerson Electric’s payout ratio is 57.99%.
In other Emerson Electric news, VP Bell Katherine Button sold 15,791 shares of Emerson Electric stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $63.91, for a total transaction of $1,009,202.81. Following the sale, the vice president now directly owns 30,304 shares of the company’s stock, valued at $1,936,728.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Michael H. Train sold 12,278 shares of Emerson Electric stock in a transaction that occurred on Tuesday, June 11th. The shares were sold at an average price of $63.80, for a total value of $783,336.40. Following the sale, the insider now directly owns 129,298 shares in the company, valued at $8,249,212.40. The disclosure for this sale can be found here. Insiders have sold 40,333 shares of company stock worth $2,583,230 over the last ninety days. Company insiders own 0.07% of the company’s stock.
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.
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