Capital One National Association raised its holdings in shares of Emerson Electric Company (NYSE:EMR) by 11.2% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 24,462 shares of the industrial products company’s stock after purchasing an additional 2,459 shares during the period. Capital One National Association’s holdings in Emerson Electric were worth $1,458,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also made changes to their positions in the business. Highwater Wealth Management LLC increased its stake in shares of Emerson Electric by 11.1% during the second quarter. Highwater Wealth Management LLC now owns 5,263 shares of the industrial products company’s stock valued at $314,000 after purchasing an additional 525 shares in the last quarter. BKD Wealth Advisors LLC bought a new position in shares of Emerson Electric during the second quarter valued at approximately $222,000. Stock Yards Bank & Trust Co. increased its stake in shares of Emerson Electric by 0.6% during the second quarter. Stock Yards Bank & Trust Co. now owns 6,978 shares of the industrial products company’s stock valued at $416,000 after purchasing an additional 41 shares in the last quarter. Beacon Financial Group increased its stake in shares of Emerson Electric by 2.4% during the second quarter. Beacon Financial Group now owns 122,756 shares of the industrial products company’s stock valued at $7,167,000 after purchasing an additional 2,874 shares in the last quarter. Finally, Carlton Hofferkamp & Jenks Wealth Management LLC increased its stake in shares of Emerson Electric by 7.5% during the second quarter. Carlton Hofferkamp & Jenks Wealth Management LLC now owns 4,656 shares of the industrial products company’s stock valued at $277,000 after purchasing an additional 326 shares in the last quarter. 70.19% of the stock is owned by institutional investors and hedge funds.
In other Emerson Electric news, insider Robert T. Sharp sold 2,000 shares of the company’s stock in a transaction that occurred on Thursday, August 31st. The shares were sold at an average price of $58.99, for a total transaction of $117,980.00. Following the transaction, the insider now owns 64,290 shares in the company, valued at approximately $3,792,467.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.79% of the company’s stock.
A number of equities analysts have weighed in on the stock. BidaskClub downgraded shares of Emerson Electric from a “hold” rating to a “sell” rating in a research note on Friday, June 9th. Stifel Nicolaus reaffirmed a “buy” rating and set a $68.00 target price on shares of Emerson Electric in a research note on Wednesday, July 19th. Morgan Stanley reaffirmed an “overweight” rating on shares of Emerson Electric in a research note on Tuesday, July 11th. JMP Securities assumed coverage on shares of Emerson Electric in a research note on Monday, June 19th. They set an “outperform” rating and a $70.00 target price for the company. Finally, Berenberg Bank reaffirmed a “sell” rating and set a $53.00 target price on shares of Emerson Electric in a research note on Friday, August 11th. Three equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have given a buy rating to the stock. Emerson Electric presently has a consensus rating of “Hold” and a consensus target price of $60.52.
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Shares of Emerson Electric Company (NYSE EMR) traded up 0.74% during midday trading on Friday, reaching $62.35. 4,441,677 shares of the company traded hands. The company has a market capitalization of $39.91 billion, a PE ratio of 27.82 and a beta of 1.18. The company has a 50 day moving average price of $59.65 and a 200 day moving average price of $59.54. Emerson Electric Company has a 1-year low of $49.22 and a 1-year high of $64.36.
Emerson Electric (NYSE:EMR) last posted its quarterly earnings data on Tuesday, August 1st. The industrial products company reported $0.68 EPS for the quarter, hitting the consensus estimate of $0.68. Emerson Electric had a net margin of 8.89% and a return on equity of 22.32%. The firm had revenue of $4.04 billion during the quarter, compared to analyst estimates of $3.99 billion. During the same quarter in the previous year, the business posted $0.68 EPS. Emerson Electric’s revenue was up 9.9% on a year-over-year basis. On average, analysts expect that Emerson Electric Company will post $2.61 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Monday, September 11th. Shareholders of record on Friday, August 11th were paid a dividend of $0.48 per share. The ex-dividend date of this dividend was Wednesday, August 9th. This represents a $1.92 dividend on an annualized basis and a yield of 3.08%. Emerson Electric’s payout ratio is 85.33%.
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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