Capital One National Association raised its holdings in Emerson Electric Company (NYSE:EMR) by 11.2% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 24,462 shares of the industrial products company’s stock after acquiring an additional 2,459 shares during the period. Capital One National Association’s holdings in Emerson Electric were worth $1,458,000 at the end of the most recent quarter.
Other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in Emerson Electric by 5.8% in the 1st quarter. Vanguard Group Inc. now owns 43,698,252 shares of the industrial products company’s stock valued at $2,615,777,000 after acquiring an additional 2,404,844 shares during the last quarter. Bridgewater Associates LP acquired a new stake in Emerson Electric in the 1st quarter valued at about $351,000. Richard C. Young & CO. LTD. raised its holdings in Emerson Electric by 28.9% in the 1st quarter. Richard C. Young & CO. LTD. now owns 30,166 shares of the industrial products company’s stock valued at $1,806,000 after acquiring an additional 6,771 shares during the last quarter. Benedict Financial Advisors Inc. raised its holdings in Emerson Electric by 0.6% in the 1st quarter. Benedict Financial Advisors Inc. now owns 46,836 shares of the industrial products company’s stock valued at $2,804,000 after acquiring an additional 262 shares during the last quarter. Finally, TIAA CREF Investment Management LLC raised its holdings in Emerson Electric by 18.4% in the 1st quarter. TIAA CREF Investment Management LLC now owns 1,299,564 shares of the industrial products company’s stock valued at $77,792,000 after acquiring an additional 201,677 shares during the last quarter. Institutional investors own 70.03% of the company’s stock.
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Emerson Electric Company (NYSE:EMR) remained flat at $63.44 during midday trading on Friday. The company’s stock had a trading volume of 2,271,452 shares. Emerson Electric Company has a 12 month low of $49.22 and a 12 month high of $64.36. The stock’s 50 day moving average price is $59.86 and its 200-day moving average price is $59.57. The stock has a market capitalization of $40.60 billion, a P/E ratio of 28.31 and a beta of 1.18.
Emerson Electric (NYSE:EMR) last announced its earnings results on Tuesday, August 1st. The industrial products company reported $0.68 earnings per share for the quarter, meeting the consensus estimate of $0.68. The business had revenue of $4.04 billion during the quarter, compared to the consensus estimate of $3.99 billion. Emerson Electric had a net margin of 8.89% and a return on equity of 22.32%. The business’s quarterly revenue was up 9.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.68 earnings per share. Equities research analysts forecast that Emerson Electric Company will post $2.61 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Monday, September 11th. Stockholders of record on Friday, August 11th were paid a $0.48 dividend. The ex-dividend date was Wednesday, August 9th. This represents a $1.92 annualized dividend and a dividend yield of 3.03%. Emerson Electric’s dividend payout ratio (DPR) is presently 85.33%.
In other news, insider Robert T. Sharp sold 2,000 shares of the company’s stock in a transaction on Thursday, August 31st. The shares were sold at an average price of $58.99, for a total value of $117,980.00. Following the completion of the transaction, the insider now directly owns 64,290 shares in the company, valued at $3,792,467.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.79% of the stock is currently owned by corporate insiders.
EMR has been the subject of a number of recent research reports. BidaskClub upgraded shares of Emerson Electric from a “sell” rating to a “hold” rating in a report on Friday, June 16th. JMP Securities initiated coverage on shares of Emerson Electric in a report on Monday, June 19th. They set an “outperform” rating and a $70.00 price target for the company. Royal Bank Of Canada restated a “sector perform” rating and set a $62.00 price target (up previously from $61.00) on shares of Emerson Electric in a report on Wednesday, August 2nd. Berenberg Bank restated a “sell” rating and set a $53.00 price target on shares of Emerson Electric in a report on Friday, August 11th. Finally, Morgan Stanley restated an “overweight” rating on shares of Emerson Electric in a report on Tuesday, July 11th. Three analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $60.52.
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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