Ossiam Trims Stake in Emerson Electric Co. (NYSE:EMR)
Ossiam trimmed its stake in Emerson Electric Co. (NYSE:EMR) by 94.9% in the 2nd quarter, HoldingsChannel reports. The firm owned 2,531 shares of the industrial products company’s stock after selling 47,469 shares during the period. Ossiam’s holdings in Emerson Electric were worth $169,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors also recently bought and sold shares of the company. Glassman Wealth Services grew its position in shares of 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 purchasing an additional 284 shares in the last quarter. Larson Financial Group LLC lifted its holdings in shares of Emerson Electric by 80.3% in the 2nd quarter. Larson Financial Group LLC now owns 440 shares of the industrial products company’s stock valued at $29,000 after acquiring an additional 196 shares during the last quarter. Westside Investment Management Inc. bought a new position in shares of Emerson Electric in the 2nd quarter valued at about $34,000. Rational Advisors LLC bought a new position in shares of Emerson Electric in the 1st quarter valued at about $41,000. Finally, Lenox Wealth Management Inc. lifted its holdings in shares of Emerson Electric by 133.5% in the 1st quarter. Lenox Wealth Management Inc. now owns 787 shares of the industrial products company’s stock valued at $54,000 after acquiring an additional 450 shares during the last quarter. Hedge funds and other institutional investors own 70.57% of the company’s stock.
NYSE EMR traded up $1.31 during trading on Friday, hitting $66.02. The stock had a trading volume of 956,719 shares, compared to its average volume of 2,925,920. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.85 and a current ratio of 1.18. The stock has a market capitalization of $40.10 billion, a price-to-earnings ratio of 19.53, a P/E/G ratio of 2.17 and a beta of 1.35. Emerson Electric Co. has a one year low of $55.38 and a one year high of $79.70. The stock has a 50 day simple moving average of $60.81 and a 200 day simple moving average of $65.41.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Friday, August 16th were paid a $0.49 dividend. This represents a $1.96 annualized dividend and a yield of 2.97%. The ex-dividend date was Thursday, August 15th. Emerson Electric’s payout ratio is currently 57.99%.
In other Emerson Electric news, VP Bell Katherine Button sold 4,470 shares of the firm’s stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $65.00, for a total value 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 sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.07% of the stock is owned by company insiders.
A number of research analysts recently commented on EMR shares. Zacks Investment Research downgraded shares of Emerson Electric from a “hold” rating to a “sell” rating and set a $69.00 price target for the company. in a report on Tuesday, July 23rd. Cowen reaffirmed a “buy” rating and issued a $72.00 price target on shares of Emerson Electric in a report on Friday, August 9th. Deutsche Bank lowered their price target on shares of Emerson Electric from $74.00 to $73.00 and set a “buy” rating for the company in a report on Monday, August 5th. Barclays reaffirmed a “hold” rating and issued a $65.00 price target on shares of Emerson Electric in a report on Wednesday, September 4th. Finally, Morgan Stanley lowered their price target on shares of Emerson Electric from $84.00 to $76.00 and set an “overweight” rating for the company in a report on Thursday, August 8th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $72.29.
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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