Emerson Electric Co. (NYSE:EMR) Shares Sold by Virtus Fund Advisers LLC
Virtus Fund Advisers LLC decreased its holdings in shares of Emerson Electric Co. (NYSE:EMR) by 2.7% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 145,317 shares of the industrial products company’s stock after selling 4,100 shares during the period. Virtus Fund Advisers LLC’s holdings in Emerson Electric were worth $10,127,000 at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of the company. Intellectus Partners LLC increased its position in shares of Emerson Electric by 0.3% in the second quarter. Intellectus Partners LLC now owns 2,094 shares of the industrial products company’s stock valued at $125,000 after buying an additional 7 shares in the last quarter. Parallel Advisors LLC increased its position in shares of Emerson Electric by 0.5% during the second quarter. Parallel Advisors LLC now owns 4,892 shares of the industrial products company’s stock worth $292,000 after purchasing an additional 26 shares in the last quarter. Trust Co. of Virginia VA increased its position in shares of Emerson Electric by 2.2% during the second quarter. Trust Co. of Virginia VA now owns 3,500 shares of the industrial products company’s stock worth $208,000 after purchasing an additional 75 shares in the last quarter. Security National Bank of Sioux City Iowa IA increased its position in shares of Emerson Electric by 0.5% during the second quarter. Security National Bank of Sioux City Iowa IA now owns 14,881 shares of the industrial products company’s stock worth $887,000 after purchasing an additional 80 shares in the last quarter. Finally, Cornerstone Advisory LLP increased its position in shares of Emerson Electric by 2.5% during the second quarter. Cornerstone Advisory LLP now owns 3,505 shares of the industrial products company’s stock worth $209,000 after purchasing an additional 85 shares in the last quarter. Institutional investors and hedge funds own 69.96% of the company’s stock.
Several equities analysts have recently commented on the company. Vertical Research raised Emerson Electric from a “hold” rating to a “buy” rating in a research note on Tuesday, January 2nd. Edward Jones lowered Emerson Electric from a “buy” rating to a “hold” rating in a research note on Friday, November 17th. Cowen raised Emerson Electric from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $61.00 to $71.00 in a research note on Tuesday, November 28th. Goldman Sachs Group reaffirmed a “neutral” rating and issued a $66.00 price target on shares of Emerson Electric in a research report on Friday, December 8th. Finally, JPMorgan Chase & Co. initiated coverage on Emerson Electric in a research report on Wednesday, November 29th. They issued a “neutral” rating on the stock. Three research analysts have rated the stock with a sell rating, six have given a hold rating and nine have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $70.72.
Emerson Electric (NYSE:EMR) last posted its quarterly earnings results on Tuesday, February 6th. The industrial products company reported $0.58 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.54 by $0.04. Emerson Electric had a return on equity of 20.73% and a net margin of 10.09%. The firm had revenue of $3.82 billion during the quarter, compared to the consensus estimate of $3.72 billion. During the same quarter in the previous year, the business earned $0.49 earnings per share. The firm’s quarterly revenue was up 18.7% compared to the same quarter last year. sell-side analysts forecast that Emerson Electric Co. will post 3.11 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, March 9th. Investors of record on Friday, February 16th were issued a $0.485 dividend. This represents a $1.94 annualized dividend and a yield of 2.74%. The ex-dividend date was Thursday, February 15th. Emerson Electric’s dividend payout ratio is currently 76.38%.
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Emerson Electric 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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