Bank of Nova Scotia Cuts Holdings in Emerson Electric Co. $EMR

Bank of Nova Scotia trimmed its holdings in shares of Emerson Electric Co. (NYSE:EMR) by 10.5% during the second quarter, HoldingsChannel reports. The institutional investor owned 58,354 shares of the industrial products company’s stock after selling 6,848 shares during the quarter. Bank of Nova Scotia’s holdings in Emerson Electric were worth $7,780,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Saudi Central Bank acquired a new stake in shares of Emerson Electric in the first quarter valued at about $25,000. Winnow Wealth LLC acquired a new stake in Emerson Electric in the second quarter valued at approximately $34,000. PFS Partners LLC raised its stake in shares of Emerson Electric by 65.9% during the second quarter. PFS Partners LLC now owns 272 shares of the industrial products company’s stock valued at $36,000 after purchasing an additional 108 shares during the period. Traub Capital Management LLC purchased a new position in shares of Emerson Electric in the second quarter valued at $37,000. Finally, Princeton Global Asset Management LLC acquired a new stake in Emerson Electric during the 2nd quarter valued at $38,000. Institutional investors and hedge funds own 74.30% of the company’s stock.

Insider Transactions at Emerson Electric

In related news, CEO Surendralal Lanca Karsanbhai sold 7,263 shares of the firm’s stock in a transaction that occurred on Wednesday, December 3rd. The stock was sold at an average price of $133.00, for a total value of $965,979.00. Following the sale, the chief executive officer directly owned 196,292 shares in the company, valued at $26,106,836. This trade represents a 3.57% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.50% of the stock is owned by company insiders.

Emerson Electric Trading Up 1.4%

NYSE EMR opened at $137.15 on Thursday. The firm has a market capitalization of $77.12 billion, a PE ratio of 33.95, a price-to-earnings-growth ratio of 2.21 and a beta of 1.26. Emerson Electric Co. has a one year low of $90.06 and a one year high of $150.27. The company has a 50-day simple moving average of $132.04 and a 200-day simple moving average of $132.82. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.65 and a current ratio of 0.88.

Emerson Electric (NYSE:EMR) last posted its earnings results on Thursday, April 6th. The industrial products company reported $0.79 earnings per share (EPS) for the quarter. The company had revenue of $3.16 billion for the quarter. Emerson Electric had a return on equity of 15.87% and a net margin of 12.73%. On average, equities analysts forecast that Emerson Electric Co. will post 5.96 earnings per share for the current year.

Emerson Electric announced that its Board of Directors has authorized a share repurchase plan on Wednesday, November 5th that authorizes the company to buyback $0.00 in outstanding shares. This buyback authorization authorizes the industrial products company to purchase shares of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.

Emerson Electric Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 10th. Stockholders of record on Friday, November 14th were issued a dividend of $0.555 per share. This represents a $2.22 dividend on an annualized basis and a dividend yield of 1.6%. This is a boost from Emerson Electric’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Friday, November 14th. Emerson Electric’s dividend payout ratio is presently 54.95%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on EMR. Jefferies Financial Group reissued a “hold” rating and issued a $145.00 price target on shares of Emerson Electric in a report on Wednesday. Weiss Ratings reiterated a “buy (b-)” rating on shares of Emerson Electric in a research note on Wednesday, October 8th. Royal Bank Of Canada dropped their price target on shares of Emerson Electric from $155.00 to $153.00 and set an “outperform” rating for the company in a research note on Thursday, November 6th. JPMorgan Chase & Co. reduced their price objective on shares of Emerson Electric from $151.00 to $150.00 and set a “neutral” rating on the stock in a research note on Monday, November 10th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on shares of Emerson Electric from $157.00 to $159.00 and gave the stock a “buy” rating in a research report on Thursday, October 2nd. Two equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $147.67.

Emerson Electric Company Profile

Emerson Electric Co, a technology and software company, provides various solutions for customers in industrial, commercial, and consumer markets in the Americas, Asia, the Middle East, Africa, and Europe. It operates in six segments: Final Control, Control Systems & Software, Measurement & Analytical, AspenTech, Discrete Automation, and Safety & Productivity.