Parsec Financial Management Inc. grew its position in Emerson Electric Company (NYSE:EMR) by 0.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 278,451 shares of the industrial products company’s stock after purchasing an additional 1,531 shares during the period. Emerson Electric makes up approximately 1.3% of Parsec Financial Management Inc.’s holdings, making the stock its 20th largest holding. Parsec Financial Management Inc.’s holdings in Emerson Electric were worth $17,498,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in EMR. Tower Research Capital LLC TRC acquired a new position in Emerson Electric during the 2nd quarter worth approximately $109,000. Intellectus Partners LLC lifted its position in Emerson Electric by 0.3% during the 2nd quarter. Intellectus Partners LLC now owns 2,094 shares of the industrial products company’s stock worth $125,000 after acquiring an additional 7 shares in the last quarter. Mountain Capital Investment Advisors Inc acquired a new position in Emerson Electric during the 2nd quarter worth approximately $129,000. AT Bancorp acquired a new position in Emerson Electric during the 2nd quarter worth approximately $139,000. Finally, Harbour Capital Advisors LLC acquired a new position in Emerson Electric during the 1st quarter worth approximately $147,000. 69.00% of the stock is currently owned by institutional investors and hedge funds.
In other news, VP Bell Katherine Button sold 7,909 shares of the business’s stock in a transaction that occurred on Thursday, November 30th. The stock was sold at an average price of $64.78, for a total value of $512,345.02. Following the completion of the sale, the vice president now directly owns 44,628 shares in the company, valued at approximately $2,891,001.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Edgar M. Purvis, Jr. sold 9,490 shares of the business’s stock in a transaction that occurred on Friday, December 8th. The shares were sold at an average price of $65.74, for a total value of $623,872.60. Following the completion of the sale, the chief operating officer now owns 168,984 shares of the company’s stock, valued at $11,109,008.16. The disclosure for this sale can be found here. Insiders have sold a total of 19,499 shares of company stock worth $1,272,235 over the last 90 days. 0.79% of the stock is owned by company insiders.
Emerson Electric (NYSE:EMR) last posted its quarterly earnings data on Tuesday, November 7th. The industrial products company reported $0.83 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.83. Emerson Electric had a return on equity of 20.47% and a net margin of 9.94%. The company had revenue of $4.44 billion for the quarter, compared to the consensus estimate of $4.43 billion. During the same period in the previous year, the business earned $0.74 EPS. Emerson Electric’s revenue for the quarter was up 12.8% compared to the same quarter last year. equities research analysts anticipate that Emerson Electric Company will post 2.92 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 11th. Shareholders of record on Friday, November 17th were issued a dividend of $0.485 per share. The ex-dividend date of this dividend was Thursday, November 16th. This is an increase from Emerson Electric’s previous quarterly dividend of $0.48. This represents a $1.94 annualized dividend and a yield of 2.92%. Emerson Electric’s payout ratio is currently 82.55%.
EMR has been the topic of several recent research reports. Stifel Nicolaus reissued a “buy” rating and set a $72.00 price target (up from $68.00) on shares of Emerson Electric in a research report on Thursday, November 9th. Cowen raised Emerson Electric to a “buy” rating and set a $71.00 price target on the stock in a research report on Monday, October 23rd. Bank of America raised Emerson Electric from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $64.44 to $79.00 in a research report on Tuesday, October 17th. Morgan Stanley reissued an “equal weight” rating and set a $67.00 price target (up from $64.00) on shares of Emerson Electric in a research report on Monday, October 2nd. Finally, Zacks Investment Research raised Emerson Electric from a “sell” rating to a “hold” rating in a research report on Tuesday, October 31st. Three equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and four have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $65.86.
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Emerson Electric Company Profile
Emerson Electric Co is a diversified global manufacturing company, which provides solutions to customers by bringing technology and engineering together in the industrial, commercial and consumer markets around the world. The Company operates through four segments based on the nature of the products and services rendered: Process Management, Industrial Automation, Climate Technologies and Commercial & Residential Solutions.
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