Canada Pension Plan Investment Board Sells 53,937 Shares of Emerson Electric Co. (NYSE:EMR)

Christel Deskins

Canada Pension Plan Investment Board reduced its stake in Emerson Electric Co. (NYSE:EMR) by 14.9% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 308,274 shares of the industrial products company’s stock after selling 53,937 shares during the quarter. […]

Canada Pension Plan Investment Board reduced its stake in Emerson Electric Co. (NYSE:EMR) by 14.9% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 308,274 shares of the industrial products company’s stock after selling 53,937 shares during the quarter. Canada Pension Plan Investment Board owned approximately 0.05% of Emerson Electric worth $19,122,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. raised its holdings in Emerson Electric by 4.8% in the 2nd quarter. Vanguard Group Inc. now owns 51,413,180 shares of the industrial products company’s stock worth $3,189,159,000 after purchasing an additional 2,332,236 shares during the period. Longview Partners Guernsey LTD raised its holdings in Emerson Electric by 1.4% in the 1st quarter. Longview Partners Guernsey LTD now owns 17,094,286 shares of the industrial products company’s stock worth $814,543,000 after purchasing an additional 239,920 shares during the period. Bank of New York Mellon Corp raised its holdings in Emerson Electric by 26.0% during the second quarter. Bank of New York Mellon Corp now owns 9,058,536 shares of the industrial products company’s stock valued at $561,900,000 after acquiring an additional 1,868,940 shares during the period. Geode Capital Management LLC raised its holdings in Emerson Electric by 1.8% during the first quarter. Geode Capital Management LLC now owns 8,674,517 shares of the industrial products company’s stock valued at $412,550,000 after acquiring an additional 156,577 shares during the period. Finally, Wellington Management Group LLP raised its holdings in Emerson Electric by 408.7% during the first quarter. Wellington Management Group LLP now owns 6,530,697 shares of the industrial products company’s stock valued at $311,186,000 after acquiring an additional 5,246,997 shares during the period. 72.37% of the stock is currently owned by institutional investors.

A number of equities research analysts have commented on the company. Zacks Investment Research raised Emerson Electric from a “sell” rating to a “hold” rating and set a $60.00 price target on the stock in a report on Tuesday, May 19th. Cowen raised Emerson Electric from a “market perform” rating to an “outperform” rating and set a $70.00 price target on the stock in a report on Wednesday, August 5th. JPMorgan Chase & Co. decreased their price target on Emerson Electric from $80.00 to $69.00 in a report on Friday, August 7th. TheStreet raised Emerson Electric from a “c+” rating to a “b-” rating in a report on Wednesday, June 17th. Finally, Berenberg Bank started coverage on Emerson Electric in a report on Thursday, August 20th. They set a “buy” rating and a $83.00 price target on the stock. One analyst has rated the stock with a sell rating, ten have issued a hold rating and seven have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $66.44.

In related news, VP Bell Katherine Button sold 687 shares of the business’s stock in a transaction that occurred on Tuesday, June 23rd. The shares were sold at an average price of $62.27, for a total value of $42,779.49. Following the completion of the transaction, the vice president now owns 29,741 shares of the company’s stock, valued at $1,851,972.07. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.50% of the company’s stock.

EMR opened at $67.92 on Friday. The stock has a 50-day moving average of $67.26 and a 200 day moving average of $59.56. The company has a current ratio of 1.32, a quick ratio of 0.97 and a debt-to-equity ratio of 0.70. Emerson Electric Co. has a 12 month low of $37.75 and a 12 month high of $78.38. The firm has a market cap of $40.59 billion, a P/E ratio of 21.23, a P/E/G ratio of 2.69 and a beta of 1.51.

Emerson Electric (NYSE:EMR) last issued its quarterly earnings data on Tuesday, August 4th. The industrial products company reported $0.80 EPS for the quarter, topping analysts’ consensus estimates of $0.61 by $0.19. The company had revenue of $3.91 billion during the quarter, compared to the consensus estimate of $3.90 billion. Emerson Electric had a net margin of 11.39% and a return on equity of 26.12%. Emerson Electric’s revenue for the quarter was down 16.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.94 earnings per share. On average, research analysts forecast that Emerson Electric Co. will post 3.3 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 10th. Investors of record on Friday, August 14th were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 2.94%. The ex-dividend date of this dividend was Thursday, August 13th. Emerson Electric’s dividend payout ratio (DPR) is 54.20%.

About Emerson Electric

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

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