Daiwa Securities Group Inc. Decreases Holdings in Emerson Electric Company (EMR)
Daiwa Securities Group Inc. trimmed its holdings in Emerson Electric Company (NYSE:EMR) by 30.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 145,531 shares of the industrial products company’s stock after selling 63,164 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Emerson Electric were worth $10,142,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in EMR. Beach Investment Management LLC. purchased a new position in Emerson Electric in the 2nd quarter worth approximately $771,000. Legal & General Group Plc lifted its stake in Emerson Electric by 3.4% in the 2nd quarter. Legal & General Group Plc now owns 3,472,726 shares of the industrial products company’s stock worth $207,037,000 after purchasing an additional 113,881 shares in the last quarter. Murphy Pohlad Asset Management LLC lifted its stake in Emerson Electric by 0.6% in the 2nd quarter. Murphy Pohlad Asset Management LLC now owns 24,275 shares of the industrial products company’s stock worth $1,447,000 after purchasing an additional 140 shares in the last quarter. Highstreet Asset Management Inc. lifted its stake in Emerson Electric by 1,256.0% in the 2nd quarter. Highstreet Asset Management Inc. now owns 187,786 shares of the industrial products company’s stock worth $11,201,000 after purchasing an additional 173,937 shares in the last quarter. Finally, Ballentine Partners LLC lifted its stake in Emerson Electric by 95.2% in the 2nd quarter. Ballentine Partners LLC now owns 11,561 shares of the industrial products company’s stock worth $696,000 after purchasing an additional 5,639 shares in the last quarter. 69.44% of the stock is currently owned by institutional investors and hedge funds.
In related news, VP Bell Katherine Button sold 7,518 shares of Emerson Electric stock in a transaction that occurred on Monday, December 11th. The shares were sold at an average price of $66.36, for a total value of $498,894.48. Following the completion of the sale, the vice president now owns 36,877 shares in the company, valued at approximately $2,447,157.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Edgar M. Purvis, Jr. sold 9,490 shares of Emerson Electric stock in a transaction that occurred on Friday, December 8th. The shares were sold at an average price of $65.74, for a total transaction 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 approximately $11,109,008.16. The disclosure for this sale can be found here. Insiders sold a total of 27,017 shares of company stock valued at $1,771,129 in the last quarter. 0.84% of the stock is owned by insiders.
Emerson Electric (NYSE:EMR) last posted its earnings results on Tuesday, February 6th. The industrial products company reported $0.58 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.54 by $0.04. Emerson Electric had a net margin of 10.09% and a return on equity of 20.73%. The firm had revenue of $3.82 billion during the quarter, compared to the consensus estimate of $3.72 billion. During the same quarter last year, the firm earned $0.49 EPS. The firm’s revenue for the quarter was up 18.7% on a year-over-year basis. equities analysts expect that Emerson Electric Company will post 3.12 earnings per share for the current fiscal year.
The business also recently announced 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. The ex-dividend date is Thursday, February 15th. This represents a $1.94 annualized dividend and a yield of 2.81%. Emerson Electric’s dividend payout ratio (DPR) is presently 78.23%.
Several research firms have recently commented on EMR. JMP Securities lowered shares of Emerson Electric from an “outperform” rating to a “market perform” rating and reduced their price target for the company from $74.45 to $56.77 in a research report on Thursday, February 1st. Robert W. Baird lifted their price target on shares of Emerson Electric from $70.00 to $76.00 and gave the company a “neutral” rating in a research report on Wednesday, February 7th. Zacks Investment Research raised shares of Emerson Electric from a “hold” rating to a “buy” rating and set a $78.00 price target on the stock in a research report on Thursday. JPMorgan Chase & Co. raised shares of Emerson Electric from a “neutral” rating to an “overweight” rating in a research report on Friday. Finally, UBS Group began coverage on shares of Emerson Electric in a research report on Monday, January 22nd. They set a “buy” rating and a $73.26 price target on the stock. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $67.65.
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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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