Johnston Asset Management LLC Cuts Stake in Emerson Electric Company (NYSE:EMR)

Johnston Asset Management LLC lowered its stake in Emerson Electric Company (NYSE:EMR) by 22.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,100 shares of the industrial products company’s stock after selling 1,221 shares during the period. Johnston Asset Management LLC’s holdings in Emerson Electric were worth $245,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp boosted its stake in Emerson Electric by 2.3% in the first quarter. Bank of New York Mellon Corp now owns 14,552,526 shares of the industrial products company’s stock worth $871,114,000 after buying an additional 332,238 shares during the period. American Century Companies Inc. boosted its stake in Emerson Electric by 19.4% in the first quarter. American Century Companies Inc. now owns 4,338,862 shares of the industrial products company’s stock valued at $259,724,000 after buying an additional 705,924 shares during the last quarter. APG Asset Management N.V. boosted its stake in Emerson Electric by 17.9% in the first quarter. APG Asset Management N.V. now owns 3,352,519 shares of the industrial products company’s stock valued at $200,682,000 after buying an additional 510,160 shares during the last quarter. UBS Asset Management Americas Inc. boosted its stake in Emerson Electric by 28.8% in the first quarter. UBS Asset Management Americas Inc. now owns 2,418,472 shares of the industrial products company’s stock valued at $144,770,000 after buying an additional 540,927 shares during the last quarter. Finally, Swiss National Bank boosted its stake in Emerson Electric by 27.1% in the first quarter. Swiss National Bank now owns 2,277,573 shares of the industrial products company’s stock valued at $136,336,000 after buying an additional 485,200 shares during the last quarter. Institutional investors own 69.42% of the company’s stock.

Shares of Emerson Electric Company (NYSE:EMR) traded down 0.50% during trading on Friday, reaching $58.00. 2,063,512 shares of the company traded hands. Emerson Electric Company has a 12-month low of $49.22 and a 12-month high of $64.36. The stock has a market capitalization of $37.12 billion, a PE ratio of 25.88 and a beta of 1.20. The firm’s 50-day moving average is $59.85 and its 200-day moving average is $59.81.

Emerson Electric (NYSE:EMR) last issued its quarterly earnings data on Tuesday, August 1st. The industrial products company reported $0.68 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.68. Emerson Electric had a net margin of 8.89% and a return on equity of 22.32%. The firm had revenue of $4.04 billion for the quarter, compared to analysts’ expectations of $3.99 billion. During the same quarter in the prior year, the business earned $0.68 EPS. The business’s quarterly revenue was up 9.9% on a year-over-year basis. On average, equities analysts predict that Emerson Electric Company will post $2.61 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Monday, September 11th. Investors of record on Friday, August 11th will be issued a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 3.31%. The ex-dividend date is Wednesday, August 9th. Emerson Electric’s dividend payout ratio is 85.33%.

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A number of brokerages have commented on EMR. BidaskClub cut shares of Emerson Electric from a “hold” rating to a “sell” rating in a research note on Friday, June 9th. Stifel Nicolaus reaffirmed a “buy” rating and set a $68.00 price objective on shares of Emerson Electric in a report on Wednesday, July 19th. Cowen and Company reaffirmed a “hold” rating and set a $62.00 price objective on shares of Emerson Electric in a report on Tuesday, May 2nd. Morgan Stanley reissued an “overweight” rating on shares of Emerson Electric in a report on Tuesday, July 11th. Finally, JMP Securities began coverage on shares of Emerson Electric in a research note on Monday, June 19th. They issued an “outperform” rating and a $70.00 price objective on the stock. Three analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and three have given a buy rating to the company. Emerson Electric currently has a consensus rating of “Hold” and a consensus price target of $58.14.

About Emerson Electric

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.

Institutional Ownership by Quarter for Emerson Electric (NYSE:EMR)

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