DnB Asset Management AS Sells 51,243 Shares of Emerson Electric Co. (NYSE:EMR)

DnB Asset Management AS lowered its holdings in shares of Emerson Electric Co. (NYSE:EMR) by 7.5% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 634,314 shares of the industrial products company’s stock after selling 51,243 shares during the quarter. DnB Asset Management AS owned 0.11% of Emerson Electric worth $57,336,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the business. Envestnet Asset Management Inc. grew its position in shares of Emerson Electric by 2.3% during the 1st quarter. Envestnet Asset Management Inc. now owns 1,040,964 shares of the industrial products company’s stock worth $90,710,000 after buying an additional 23,535 shares in the last quarter. Trust Co. of Vermont increased its position in Emerson Electric by 4.5% during the 1st quarter. Trust Co. of Vermont now owns 88,517 shares of the industrial products company’s stock valued at $7,713,000 after purchasing an additional 3,786 shares during the period. AMG National Trust Bank raised its holdings in shares of Emerson Electric by 8.3% in the 1st quarter. AMG National Trust Bank now owns 8,907 shares of the industrial products company’s stock valued at $776,000 after purchasing an additional 681 shares in the last quarter. Heritage Wealth Management LLC lifted its position in shares of Emerson Electric by 116.7% in the 4th quarter. Heritage Wealth Management LLC now owns 754 shares of the industrial products company’s stock worth $72,000 after purchasing an additional 406 shares during the period. Finally, Equitable Trust Co. boosted its stake in shares of Emerson Electric by 4.5% during the fourth quarter. Equitable Trust Co. now owns 4,393 shares of the industrial products company’s stock valued at $422,000 after purchasing an additional 191 shares in the last quarter. Institutional investors own 72.02% of the company’s stock.

Emerson Electric Stock Performance

Shares of Emerson Electric stock traded up $0.82 on Thursday, reaching $98.50. 772,221 shares of the stock were exchanged, compared to its average volume of 3,162,086. Emerson Electric Co. has a twelve month low of $72.40 and a twelve month high of $100.62. The business has a 50 day moving average price of $94.78 and a two-hundred day moving average price of $87.88. The company has a quick ratio of 2.07, a current ratio of 2.38 and a debt-to-equity ratio of 0.29. The firm has a market capitalization of $56.53 billion, a price-to-earnings ratio of 4.27, a PEG ratio of 2.33 and a beta of 1.39.

Emerson Electric (NYSE:EMR) last released its quarterly earnings data on Wednesday, August 2nd. The industrial products company reported $1.29 EPS for the quarter, beating the consensus estimate of $1.09 by $0.20. Emerson Electric had a net margin of 80.41% and a return on equity of 14.27%. The business had revenue of $3.95 billion for the quarter, compared to the consensus estimate of $3.89 billion. Analysts anticipate that Emerson Electric Co. will post 4.44 earnings per share for the current fiscal year.

Emerson Electric Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 11th. Shareholders of record on Friday, August 11th were paid a dividend of $0.52 per share. The ex-dividend date was Thursday, August 10th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.11%. Emerson Electric’s payout ratio is currently 9.09%.

Insider Activity

In related news, CMO Vidya Ramnath sold 2,500 shares of Emerson Electric stock in a transaction that occurred on Tuesday, September 5th. The stock was sold at an average price of $97.86, for a total transaction of $244,650.00. Following the completion of the transaction, the chief marketing officer now directly owns 11,870 shares in the company, valued at $1,161,598.20. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, VP Lisa Flavin sold 48,718 shares of the firm’s stock in a transaction dated Tuesday, June 27th. The stock was sold at an average price of $89.65, for a total transaction of $4,367,568.70. Following the sale, the vice president now directly owns 51,748 shares in the company, valued at approximately $4,639,208.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CMO Vidya Ramnath sold 2,500 shares of Emerson Electric stock in a transaction dated Tuesday, September 5th. The shares were sold at an average price of $97.86, for a total value of $244,650.00. Following the completion of the transaction, the chief marketing officer now owns 11,870 shares of the company’s stock, valued at approximately $1,161,598.20. The disclosure for this sale can be found here. Insiders own 0.33% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on EMR. Barclays assumed coverage on Emerson Electric in a report on Monday, August 28th. They set an “equal weight” rating and a $105.00 target price for the company. Royal Bank of Canada raised their price objective on Emerson Electric from $103.00 to $111.00 and gave the company an “outperform” rating in a research report on Thursday, August 3rd. Mizuho boosted their target price on shares of Emerson Electric from $90.00 to $95.00 and gave the stock a “neutral” rating in a report on Thursday, August 3rd. Argus raised shares of Emerson Electric from a “hold” rating to a “buy” rating and set a $110.00 price objective on the stock in a research report on Monday, August 28th. Finally, Stephens reissued an “overweight” rating and set a $120.00 target price on shares of Emerson Electric in a research report on Monday, August 7th. Three analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $104.82.

Emerson Electric Company Profile

Emerson Electric Co, a technology and engineering company, provides various solutions for customers in industrial, commercial, and consumer markets in the Americas, Asia, the Middle East, Africa, and Europe. The company operates through Automation Solutions, AspenTech, and Commercial & Residential Solutions segments.