Benedict Financial Advisors Inc. cut its holdings in Emerson Electric Co. (NYSE:EMR) by 4.9% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 43,230 shares of the industrial products company’s stock after selling 2,218 shares during the period. Emerson Electric makes up approximately 1.5% of Benedict Financial Advisors Inc.’s portfolio, making the stock its 23rd biggest position. Benedict Financial Advisors Inc.’s holdings in Emerson Electric were worth $3,311,000 at the end of the most recent quarter.
Several other hedge funds have also bought and sold shares of the company. Bank of America Corp DE raised its position in shares of Emerson Electric by 1.8% in the 2nd quarter. Bank of America Corp DE now owns 23,145,471 shares of the industrial products company’s stock worth $1,600,277,000 after acquiring an additional 417,445 shares in the last quarter. Northern Trust Corp increased its position in Emerson Electric by 0.9% in the 2nd quarter. Northern Trust Corp now owns 9,540,319 shares of the industrial products company’s stock valued at $659,617,000 after buying an additional 80,807 shares in the last quarter. American Century Companies Inc. increased its position in Emerson Electric by 1.1% in the 2nd quarter. American Century Companies Inc. now owns 4,594,851 shares of the industrial products company’s stock valued at $317,688,000 after buying an additional 51,585 shares in the last quarter. Schwab Charles Investment Management Inc. increased its position in Emerson Electric by 1.5% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 4,168,307 shares of the industrial products company’s stock valued at $288,197,000 after buying an additional 62,727 shares in the last quarter. Finally, FMR LLC increased its position in Emerson Electric by 22.2% in the 2nd quarter. FMR LLC now owns 3,430,748 shares of the industrial products company’s stock valued at $237,202,000 after buying an additional 622,701 shares in the last quarter. 70.33% of the stock is owned by hedge funds and other institutional investors.
A number of analysts recently commented on the company. Cowen reaffirmed a “buy” rating and issued a $81.00 target price on shares of Emerson Electric in a research report on Tuesday. Credit Suisse Group assumed coverage on Emerson Electric in a research report on Friday, October 12th. They issued a “neutral” rating and a $78.00 target price for the company. Gordon Haskett assumed coverage on Emerson Electric in a research report on Friday, October 12th. They issued a “buy” rating for the company. Zacks Investment Research lowered Emerson Electric from a “buy” rating to a “hold” rating in a research report on Friday, October 5th. Finally, Bank of America boosted their target price on Emerson Electric from $82.00 to $90.00 and gave the company a “buy” rating in a research report on Thursday, October 4th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and thirteen have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $78.67.
Emerson Electric (NYSE:EMR) last released its quarterly earnings results on Tuesday, November 6th. The industrial products company reported $0.89 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.03). The company had revenue of $4.89 billion for the quarter, compared to analyst estimates of $4.91 billion. Emerson Electric had a net margin of 12.33% and a return on equity of 22.83%. Emerson Electric’s revenue for the quarter was up 10.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.83 EPS. On average, analysts forecast that Emerson Electric Co. will post 3.19 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, December 10th. Shareholders of record on Friday, November 16th will be paid a dividend of $0.49 per share. This represents a $1.96 dividend on an annualized basis and a yield of 2.78%. This is an increase from Emerson Electric’s previous quarterly dividend of $0.49. Emerson Electric’s payout ratio is 73.48%.
In other Emerson Electric news, President Edward L. Monser sold 60,000 shares of Emerson Electric stock in a transaction dated Monday, September 10th. The stock was sold at an average price of $76.10, for a total transaction of $4,566,000.00. Following the completion of the transaction, the president now owns 176,477 shares in the company, valued at approximately $13,429,899.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, President Edward L. Monser sold 30,000 shares of Emerson Electric stock in a transaction dated Friday, September 7th. The shares were sold at an average price of $75.84, for a total value of $2,275,200.00. Following the transaction, the president now owns 176,477 shares of the company’s stock, valued at approximately $13,384,015.68. The disclosure for this sale can be found here. Insiders have sold a total of 96,409 shares of company stock valued at $7,317,004 in the last quarter. Company insiders own 0.84% of the company’s stock.
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Emerson Electric Profile
Emerson Electric Co, a technology and engineering company, provides various solutions to industrial, commercial, and residential markets worldwide. The company's Automation Solutions segment offers software; measurement and analytical instrumentation; valves, actuators, and regulators; industry services and solutions; process control systems and solutions; and digital plant solutions.
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