Nicolet Bankshares Inc. continued to hold its stake in shares of Emerson Electric Company (NYSE:EMR) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 3,562 shares of the industrial products company’s stock at the close of the second quarter. Nicolet Bankshares Inc.’s holdings in Emerson Electric were worth $212,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds have also recently modified their holdings of the company. Bridgewater Associates LP purchased a new position in shares of Emerson Electric during the first quarter worth about $351,000. Vanguard Group Inc. grew its holdings in shares of Emerson Electric by 5.8% during the first quarter. Vanguard Group Inc. now owns 43,698,252 shares of the industrial products company’s stock worth $2,615,777,000 after purchasing an additional 2,404,844 shares during the last quarter. Benedict Financial Advisors Inc. grew its holdings 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 purchasing an additional 262 shares during the last quarter. TIAA CREF Investment Management LLC grew its holdings 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 purchasing an additional 201,677 shares during the last quarter. Finally, Lederer & Associates Investment Counsel CA grew its holdings in shares of Emerson Electric by 5.3% during the second quarter. Lederer & Associates Investment Counsel CA now owns 37,112 shares of the industrial products company’s stock worth $2,213,000 after purchasing an additional 1,875 shares during the last quarter. 70.19% of the stock is currently owned by institutional investors.
In related news, insider Robert T. Sharp sold 2,000 shares of the business’s stock in a transaction dated Thursday, August 31st. The shares were sold at an average price of $58.99, for a total transaction of $117,980.00. Following the completion of the sale, the insider now owns 64,290 shares of the company’s stock, valued at approximately $3,792,467.10. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.79% of the stock is owned by corporate insiders.
Shares of Emerson Electric Company (NYSE:EMR) opened at 62.35 on Friday. Emerson Electric Company has a 12 month low of $49.22 and a 12 month high of $64.36. The company has a 50-day moving average of $59.65 and a 200-day moving average of $59.54. The firm has a market cap of $39.91 billion, a P/E ratio of 27.82 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 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.68. Emerson Electric had a net margin of 8.89% and a return on equity of 22.32%. The business had revenue of $4.04 billion during the quarter, compared to the consensus estimate of $3.99 billion. During the same quarter in the prior year, the firm earned $0.68 EPS. The company’s revenue for the quarter was up 9.9% compared to the same quarter last year. Equities analysts forecast that Emerson Electric Company will post $2.61 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 11th. Investors of record on Friday, August 11th were given a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 3.08%. The ex-dividend date was Wednesday, August 9th. Emerson Electric’s dividend payout ratio is presently 85.33%.
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Several brokerages have issued reports on EMR. BidaskClub lowered Emerson Electric from a “hold” rating to a “sell” rating in a report 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. Morgan Stanley reaffirmed an “overweight” rating on shares of Emerson Electric in a report on Tuesday, July 11th. JMP Securities began coverage on Emerson Electric in a report on Monday, June 19th. They set an “outperform” rating and a $70.00 price objective on the stock. Finally, Berenberg Bank reaffirmed a “sell” rating and set a $53.00 price objective on shares of Emerson Electric in a report on Friday, August 11th. Three equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and three have issued a buy rating to the stock. Emerson Electric presently has a consensus rating of “Hold” and a consensus price target of $60.52.
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.
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