Summit Financial Wealth Advisors LLC Has $2.93 Million Holdings in Emerson Electric Co. (EMR)
Summit Financial Wealth Advisors LLC trimmed its holdings in shares of Emerson Electric Co. (NYSE:EMR) by 11.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 49,082 shares of the industrial products company’s stock after selling 6,577 shares during the quarter. Summit Financial Wealth Advisors LLC’s holdings in Emerson Electric were worth $2,933,000 at the end of the most recent quarter.
Other institutional investors have also bought and sold shares of the company. FMR LLC grew its holdings 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. Krueger & Catalano Capital Partners LLC grew its holdings in Emerson Electric by 13.8% in the 3rd quarter. Krueger & Catalano Capital Partners LLC now owns 13,011 shares of the industrial products company’s stock valued at $996,000 after buying an additional 1,574 shares in the last quarter. MainStreet Investment Advisors LLC grew its holdings in Emerson Electric by 12.4% in the 3rd quarter. MainStreet Investment Advisors LLC now owns 37,765 shares of the industrial products company’s stock valued at $2,892,000 after buying an additional 4,169 shares in the last quarter. Gardiner Nancy B purchased a new stake in Emerson Electric in the 3rd quarter valued at $455,000. Finally, First Hawaiian Bank purchased a new stake in Emerson Electric in the 3rd quarter valued at $1,193,000. 71.14% of the stock is currently owned by hedge funds and other institutional investors.
Several analysts have issued reports on EMR shares. Citigroup upgraded Emerson Electric from a “sell” rating to a “neutral” rating and set a $66.00 target price for the company in a report on Monday, January 14th. Gordon Haskett cut Emerson Electric from a “buy” rating to a “hold” rating in a report on Wednesday, December 12th. Stephens restated a “buy” rating and issued a $68.00 target price on shares of Emerson Electric in a report on Sunday, January 6th. Credit Suisse Group upgraded Emerson Electric from a “neutral” rating to an “outperform” rating and set a $59.60 target price for the company in a report on Thursday, January 3rd. Finally, Royal Bank of Canada cut Emerson Electric from an “outperform” rating to a “sector perform” rating and dropped their target price for the company from $68.00 to $61.00 in a report on Thursday, January 3rd. Ten analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $76.28.
Emerson Electric (NYSE:EMR) last posted its earnings results on Tuesday, February 5th. The industrial products company reported $0.74 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.66 by $0.08. Emerson Electric had a return on equity of 24.21% and a net margin of 12.83%. The firm had revenue of $4.15 billion for the quarter, compared to analyst estimates of $4.21 billion. During the same quarter in the prior year, the company earned $0.61 EPS. Emerson Electric’s revenue was up 8.7% on a year-over-year basis. Research analysts predict that Emerson Electric Co. will post 3.7 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, March 11th. Investors of record on Friday, February 15th will be paid a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a yield of 2.94%. The ex-dividend date is Thursday, February 14th. Emerson Electric’s payout ratio is 57.99%.
In other Emerson Electric news, insider Surendralal Lanca Karsanbhai sold 9,070 shares of the stock in a transaction dated Wednesday, November 28th. The stock was sold at an average price of $68.00, for a total value of $616,760.00. Following the sale, the insider now owns 20,000 shares of the company’s stock, valued at approximately $1,360,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.07% of the stock is currently owned by corporate insiders.
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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.
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