Chemical Bank grew its position in Emerson Electric Company (NYSE:EMR) by 0.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 70,032 shares of the company’s stock after purchasing an additional 340 shares during the quarter. Chemical Bank’s holdings in Emerson Electric were worth $4,175,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds have also recently bought and sold shares of EMR. Mutual of America Capital Management LLC boosted its position in shares of Emerson Electric by 0.3% in the first quarter. Mutual of America Capital Management LLC now owns 77,987 shares of the company’s stock worth $4,668,000 after purchasing an additional 203 shares during the period. Meristem LLP boosted its position in shares of Emerson Electric by 2.7% during the first quarter. Meristem LLP now owns 9,495 shares of the company’s stock worth $568,000 after acquiring an additional 248 shares during the last quarter. Stevens Capital Management LP bought a new position in shares of Emerson Electric during the first quarter worth $23,386,000. Keystone Financial Planning Inc. boosted its position in shares of Emerson Electric by 0.7% during the first quarter. Keystone Financial Planning Inc. now owns 90,614 shares of the company’s stock worth $5,424,000 after acquiring an additional 666 shares during the last quarter. Finally, Buckingham Asset Management LLC boosted its position in shares of Emerson Electric by 12.9% during the first quarter. Buckingham Asset Management LLC now owns 15,837 shares of the company’s stock worth $948,000 after acquiring an additional 1,807 shares during the last quarter. Institutional investors and hedge funds own 70.14% of the company’s stock.
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A number of equities analysts recently weighed in on EMR shares. Cowen and Company upgraded shares of Emerson Electric to a “buy” rating and set a $71.00 target price for the company in a research report on Monday, October 23rd. Citigroup Inc. restated a “sell” rating and set a $61.00 target price (up previously from $58.00) on shares of Emerson Electric in a research report on Monday, October 9th. Bank of America Corporation upgraded shares of Emerson Electric from a “neutral” rating to a “buy” rating and upped their target price for the stock from $64.44 to $79.00 in a research report on Tuesday, October 17th. Stifel Nicolaus restated a “buy” rating and set a $68.00 target price on shares of Emerson Electric in a research report on Wednesday, July 19th. Finally, Zacks Investment Research lowered shares of Emerson Electric from a “hold” rating to a “sell” rating in a research report on Tuesday, October 17th. Three investment analysts have rated the stock with a sell rating, eleven have given a hold rating and four have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of C$65.14.
Shares of Emerson Electric Company (EMR) opened at C$61.61 on Friday. Emerson Electric Company has a 12 month low of C$53.92 and a 12 month high of C$67.79. The firm has a market cap of $39,431.63, a price-to-earnings ratio of 23.88, a PEG ratio of 2.81 and a beta of 1.24. The company has a quick ratio of 1.24, a current ratio of 1.64 and a debt-to-equity ratio of 0.43.
Emerson Electric (NYSE:EMR) last posted its quarterly earnings results on Tuesday, November 7th. The company reported C$0.83 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of C$0.83. The company had revenue of C$4.44 billion for the quarter, compared to the consensus estimate of C$4.43 billion. Emerson Electric had a net margin of 9.94% and a return on equity of 20.47%. The firm’s revenue was up 12.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.74 EPS. sell-side analysts expect that Emerson Electric Company will post 2.9 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, December 11th. Investors of record on Friday, November 17th will be paid a $0.485 dividend. This represents a $1.94 annualized dividend and a yield of 3.15%. The ex-dividend date of this dividend is Thursday, November 16th. This is an increase from Emerson Electric’s previous quarterly dividend of $0.48. Emerson Electric’s dividend payout ratio (DPR) is currently 81.70%.
In related news, insider Robert T. Sharp sold 2,000 shares of the firm’s stock in a transaction dated Thursday, August 31st. The shares were sold at an average price of C$58.99, for a total value of C$117,980.00. Following the transaction, the insider now owns 64,290 shares of the company’s stock, valued at approximately C$3,792,467.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.79% of the company’s stock.
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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