Putnam Investments LLC Sells 38,965 Shares of Emerson Electric Co. (NYSE:EMR)

Posted by Defense World Staff on Sep 16th, 2023

Putnam Investments LLC lessened its stake in shares of Emerson Electric Co. (NYSE:EMR – Free Report) by 27.7% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 101,765 shares of the industrial products company’s stock after selling 38,965 shares during the period. Putnam Investments LLC’s holdings in Emerson Electric were worth $8,868,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Envestnet Asset Management Inc. boosted its stake in shares of Emerson Electric by 2.3% in the first quarter. Envestnet Asset Management Inc. now owns 1,040,964 shares of the industrial products company’s stock worth $90,710,000 after acquiring an additional 23,535 shares during the period. Trust Co. of Vermont boosted its stake in shares of Emerson Electric by 4.5% in the first quarter. Trust Co. of Vermont now owns 88,517 shares of the industrial products company’s stock worth $7,713,000 after acquiring an additional 3,786 shares during the period. AMG National Trust Bank boosted its stake in shares of Emerson Electric by 8.3% in the first quarter. AMG National Trust Bank now owns 8,907 shares of the industrial products company’s stock worth $776,000 after acquiring an additional 681 shares during the period. Heritage Wealth Management LLC boosted its stake in shares of Emerson Electric by 116.7% in the fourth quarter. Heritage Wealth Management LLC now owns 754 shares of the industrial products company’s stock worth $72,000 after acquiring an additional 406 shares during the period. Finally, Equitable Trust Co. boosted its stake in shares of Emerson Electric by 4.5% in the fourth quarter. Equitable Trust Co. now owns 4,393 shares of the industrial products company’s stock worth $422,000 after acquiring an additional 191 shares during the period. Institutional investors own 72.02% of the company’s stock.

Emerson Electric Trading Up 0.3 %

Shares of NYSE EMR opened at $98.86 on Friday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.07 and a current ratio of 2.38. The business’s 50 day moving average price is $95.15 and its 200-day moving average price is $88.02. Emerson Electric Co. has a fifty-two week low of $72.40 and a fifty-two week high of $100.62. The company has a market cap of $56.74 billion, a price-to-earnings ratio of 4.32, a PEG ratio of 2.29 and a beta of 1.39.

Emerson Electric (NYSE:EMR – Get Free Report) last issued its quarterly earnings results on Wednesday, August 2nd. The industrial products company reported $1.29 earnings per share for the quarter, topping the consensus estimate of $1.09 by $0.20. Emerson Electric had a return on equity of 14.27% and a net margin of 80.41%. The firm had revenue of $3.95 billion for the quarter, compared to the consensus estimate of $3.89 billion. On average, sell-side analysts expect that Emerson Electric Co. will post 4.44 earnings per share for the current year.

Emerson Electric Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 11th. Investors of record on Friday, August 11th were paid a $0.52 dividend. The ex-dividend date of this dividend was Thursday, August 10th. This represents a $2.08 annualized dividend and a yield of 2.10%. Emerson Electric’s dividend payout ratio (DPR) is currently 9.09%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on EMR. Royal Bank of Canada increased their price target on Emerson Electric from $103.00 to $111.00 and gave the company an “outperform” rating in a research note on Thursday, August 3rd. Morgan Stanley increased their price target on Emerson Electric from $107.00 to $116.00 and gave the company an “overweight” rating in a research note on Thursday, August 3rd. Mizuho increased their price target on Emerson Electric from $90.00 to $95.00 and gave the company a “neutral” rating in a research note on Thursday, August 3rd. Stephens reissued an “overweight” rating and set a $120.00 price target on shares of Emerson Electric in a research note on Monday, August 7th. Finally, Barclays began coverage on Emerson Electric in a research note on Monday, August 28th. They set an “equal weight” rating and a $105.00 price target for the company. Three investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat.com, Emerson Electric has a consensus rating of “Moderate Buy” and a consensus target price of $105.67.

View Our Latest Research Report on EMR

Insider Buying and Selling

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

About Emerson Electric

(Free Report)

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.