Chemung Canal Trust Co. lifted its position in shares of Emerson Electric Company (NYSE:EMR) by 39.4% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 159,434 shares of the industrial products company’s stock after acquiring an additional 45,030 shares during the period. Emerson Electric accounts for 2.2% of Chemung Canal Trust Co.’s portfolio, making the stock its 14th biggest holding. Chemung Canal Trust Co.’s holdings in Emerson Electric were worth $9,544,000 at the end of the most recent reporting period.
Other institutional investors have also recently added to or reduced their stakes in the company. Bridgewater Associates LP bought a new position in shares of Emerson Electric during the first quarter worth about $351,000. Benedict Financial Advisors Inc. grew its position in shares of Emerson Electric by 0.6% during the first quarter. Benedict Financial Advisors Inc. now owns 46,836 shares of the industrial products company’s stock worth $2,804,000 after acquiring an additional 262 shares during the last quarter. Pinnacle Financial Partners Inc. grew its position in shares of Emerson Electric by 10.4% during the first quarter. Pinnacle Financial Partners Inc. now owns 61,784 shares of the industrial products company’s stock worth $3,698,000 after acquiring an additional 5,844 shares during the last quarter. Princeton Alpha Management LP bought a new position in shares of Emerson Electric during the first quarter worth about $461,000. Finally, TIAA CREF Investment Management LLC grew its position in shares of Emerson Electric by 18.4% during the first quarter. TIAA CREF Investment Management LLC now owns 1,299,564 shares of the industrial products company’s stock worth $77,792,000 after acquiring an additional 201,677 shares during the last quarter. Institutional investors and hedge funds own 70.19% of the company’s stock.
Several equities analysts have recently commented on EMR shares. Stifel Nicolaus restated a “buy” rating and set a $68.00 price target on shares of Emerson Electric in a research report on Wednesday, July 19th. BidaskClub upgraded shares of Emerson Electric from a “sell” rating to a “hold” rating in a research report on Friday, June 16th. Royal Bank Of Canada restated a “hold” rating and set a $62.00 price target on shares of Emerson Electric in a research report on Tuesday, June 6th. JMP Securities started coverage on shares of Emerson Electric in a research report on Monday, June 19th. They set an “outperform” rating and a $70.00 price target for the company. Finally, Morgan Stanley restated an “overweight” rating on shares of Emerson Electric in a research report on Tuesday, July 11th. Three analysts have rated the stock with a sell rating, thirteen have given a hold rating and three have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $60.52.
Shares of Emerson Electric Company (EMR) traded up 0.11% during midday trading on Wednesday, reaching $61.33. 625,635 shares of the company’s stock were exchanged. Emerson Electric Company has a 1-year low of $49.22 and a 1-year high of $64.36. The firm has a 50-day moving average of $59.45 and a 200-day moving average of $59.49. The company has a market capitalization of $39.25 billion, a PE ratio of 27.37 and a beta of 1.18.
Emerson Electric (NYSE:EMR) last announced its quarterly earnings data on Tuesday, August 1st. The industrial products company reported $0.68 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.68. The firm had revenue of $4.04 billion during the quarter, compared to analyst estimates of $3.99 billion. Emerson Electric had a return on equity of 22.32% and a net margin of 8.89%. The company’s revenue was up 9.9% on a year-over-year basis. During the same period last year, the company earned $0.68 earnings per share. Equities analysts expect that Emerson Electric Company will post $2.61 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, September 11th. Investors of record on Friday, August 11th were given a $0.48 dividend. The ex-dividend date was Wednesday, August 9th. This represents a $1.92 dividend on an annualized basis and a yield of 3.13%. Emerson Electric’s payout ratio is 85.33%.
In related news, insider Robert T. Sharp sold 2,000 shares of Emerson Electric stock in a transaction dated Thursday, August 31st. The stock was sold at an average price of $58.99, for a total value of $117,980.00. Following the completion of the sale, the insider now directly owns 64,290 shares in the company, valued at $3,792,467.10. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.79% of the stock is owned by company insiders.
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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