Gabelli Funds LLC Sells 4,000 Shares of Emerson Electric Company (EMR)

Gabelli Funds LLC lowered its stake in shares of Emerson Electric Company (NYSE:EMR) by 23.5% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 13,000 shares of the industrial products company’s stock after selling 4,000 shares during the period. Gabelli Funds LLC’s holdings in Emerson Electric were worth $906,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC purchased a new position in shares of Emerson Electric during the 2nd quarter valued at about $109,000. Cerebellum GP LLC purchased a new position in shares of Emerson Electric during the 4th quarter valued at about $129,000. Intellectus Partners LLC raised its stake in shares of Emerson Electric by 0.3% during the 2nd quarter. Intellectus Partners LLC now owns 2,094 shares of the industrial products company’s stock valued at $125,000 after buying an additional 7 shares during the last quarter. Global Trust Asset Management LLC purchased a new position in shares of Emerson Electric during the 4th quarter valued at about $146,000. Finally, Mountain Capital Investment Advisors Inc purchased a new position in shares of Emerson Electric during the 2nd quarter valued at about $129,000. Institutional investors and hedge funds own 69.44% of the company’s stock.

Several equities analysts recently weighed in on the company. Edward Jones lowered Emerson Electric from a “buy” rating to a “hold” rating in a research note on Friday, November 17th. Cowen upgraded Emerson Electric to a “buy” rating and set a $71.00 price target for the company in a research note on Monday, October 23rd. JMP Securities lowered Emerson Electric from an “outperform” rating to a “market perform” rating and cut their price target for the company from $74.45 to $56.77 in a research note on Thursday, February 1st. Stifel Nicolaus restated a “buy” rating and issued a $75.00 price target on shares of Emerson Electric in a research note on Monday, December 11th. Finally, Robert W. Baird lifted their price target on Emerson Electric from $70.00 to $76.00 and gave the company a “neutral” rating in a research note on Wednesday, February 7th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $68.93.

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 transaction of $512,345.02. Following the transaction, 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 legal filing with the SEC, which is available at the SEC website. 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 stock was sold at an average price of $65.74, for a total value of $623,872.60. Following the transaction, the chief operating officer now owns 168,984 shares in the company, valued at $11,109,008.16. The disclosure for this sale can be found here. Over the last quarter, insiders sold 27,017 shares of company stock worth $1,771,129. 0.79% of the stock is currently owned by insiders.

Shares of Emerson Electric Company (EMR) opened at $71.31 on Thursday. The company has a quick ratio of 1.02, a current ratio of 1.32 and a debt-to-equity ratio of 0.40. Emerson Electric Company has a twelve month low of $56.77 and a twelve month high of $74.45. The stock has a market capitalization of $44,679.87, a PE ratio of 26.36, a P/E/G ratio of 2.20 and a beta of 1.19.

Emerson Electric (NYSE:EMR) last posted its quarterly earnings data on Tuesday, February 6th. The industrial products company reported $0.58 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.54 by $0.04. Emerson Electric had a return on equity of 20.73% and a net margin of 10.09%. The company had revenue of $3.82 billion for the quarter, compared to analysts’ expectations of $3.72 billion. During the same period in the previous year, the firm posted $0.49 EPS. Emerson Electric’s revenue was up 18.7% compared to the same quarter last year. equities research analysts anticipate that Emerson Electric Company will post 3.13 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 9th. Investors of record on Friday, February 16th will be issued a $0.485 dividend. This represents a $1.94 annualized dividend and a yield of 2.72%. The ex-dividend date of this dividend is Thursday, February 15th. Emerson Electric’s payout ratio is 78.23%.

TRADEMARK VIOLATION WARNING: “Gabelli Funds LLC Sells 4,000 Shares of Emerson Electric Company (EMR)” was originally published by Week Herald and is owned by of Week Herald. If you are accessing this article on another domain, it was stolen and republished in violation of US & international copyright law. The correct version of this article can be viewed at https://weekherald.com/2018/02/15/gabelli-funds-llc-sells-4000-shares-of-emerson-electric-company-emr.html.

About Emerson Electric

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.

Institutional Ownership by Quarter for Emerson Electric (NYSE:EMR)

Receive News & Ratings for Emerson Electric Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Emerson Electric and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply