Scotia Capital Inc. Reduces Stake in Emerson Electric Co. (NYSE:EMR)

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Scotia Capital Inc. reduced its position in Emerson Electric Co. (NYSE:EMR) by 48.7% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 48,139 shares of the industrial products company’s stock after selling 45,658 shares during the period. Scotia Capital Inc.’s holdings in Emerson Electric were worth $3,212,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently added to or reduced their stakes in EMR. Glassman Wealth Services raised its holdings 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 grew its position in shares of 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 purchasing an additional 196 shares in the last quarter. Westside Investment Management Inc. purchased a new position in shares of Emerson Electric during the second quarter valued at about $34,000. Rational Advisors LLC purchased a new position in shares of Emerson Electric during the first quarter valued at about $41,000. Finally, Lenox Wealth Management Inc. grew its position in Emerson Electric by 133.5% in the first quarter. Lenox Wealth Management Inc. now owns 787 shares of the industrial products company’s stock worth $54,000 after acquiring an additional 450 shares in the last quarter. Hedge funds and other institutional investors own 70.57% of the company’s stock.

Several research firms recently commented on EMR. Cowen reiterated a “buy” rating and issued a $72.00 price target on shares of Emerson Electric in a research report on Friday, August 9th. Argus lowered Emerson Electric from a “buy” rating to a “hold” rating in a research report on Tuesday, August 13th. Barclays reiterated a “hold” rating and issued a $65.00 price target on shares of Emerson Electric in a research report on Wednesday, September 4th. Credit Suisse Group dropped their price target on Emerson Electric from $74.00 to $70.00 and set an “outperform” rating for the company in a research report on Wednesday, August 7th. Finally, Deutsche Bank dropped their price target on Emerson Electric from $74.00 to $73.00 and set a “buy” rating for the company in a research report on Monday, August 5th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have given a buy rating to the company. Emerson Electric presently has a consensus rating of “Hold” and a consensus target price of $72.29.

In other news, VP Bell Katherine Button sold 4,470 shares of Emerson Electric stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $65.00, for a total transaction of $290,550.00. Following the completion of the sale, the vice president now owns 18,040 shares of the company’s stock, valued at $1,172,600. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.07% of the company’s stock.

Shares of Emerson Electric stock traded up $1.43 on Friday, hitting $66.14. 145,506 shares of the company traded hands, compared to its average volume of 2,925,920. The stock’s 50 day moving average price is $60.81 and its 200-day moving average price is $65.41. The company has a current ratio of 1.18, a quick ratio of 0.85 and a debt-to-equity ratio of 0.49. Emerson Electric Co. has a 52 week low of $55.38 and a 52 week high of $79.70. The company has a market cap of $40.64 billion, a PE ratio of 19.54, a PEG ratio of 2.17 and a beta of 1.35.

Emerson Electric (NYSE:EMR) last posted its quarterly earnings results on Tuesday, August 6th. The industrial products company reported $0.94 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.94. Emerson Electric had a net margin of 12.06% and a return on equity of 24.67%. The firm had revenue of $4.68 billion during the quarter, compared to the consensus estimate of $4.82 billion. During the same quarter in the previous year, the firm posted $1.12 earnings per share. The company’s revenue was up 5.1% on a year-over-year basis. As a group, research analysts anticipate that Emerson Electric Co. will post 3.64 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Friday, August 16th were paid a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a dividend yield of 2.96%. The ex-dividend date was Thursday, August 15th. Emerson Electric’s dividend payout ratio is presently 57.99%.

Emerson Electric 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.

See Also: How are institutional investors different from individual investors?

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

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