Cibc World Markets Corp increased its position in shares of Emerson Electric Company (NYSE:EMR) by 35.2% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 91,071 shares of the industrial products company’s stock after purchasing an additional 23,698 shares during the period. Cibc World Markets Corp’s holdings in Emerson Electric were worth $5,430,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Washington Trust Bank increased its position in shares of Emerson Electric by 0.4% during the second quarter. Washington Trust Bank now owns 4,040 shares of the industrial products company’s stock valued at $241,000 after purchasing an additional 16 shares during the period. RB Capital Management LLC boosted its stake in Emerson Electric by 0.6% in the 2nd quarter. RB Capital Management LLC now owns 4,475 shares of the industrial products company’s stock valued at $267,000 after buying an additional 26 shares in the last quarter. Parallel Advisors LLC boosted its stake in Emerson Electric by 0.5% in the 2nd quarter. Parallel Advisors LLC now owns 4,892 shares of the industrial products company’s stock valued at $292,000 after buying an additional 26 shares in the last quarter. Guardian Life Insurance Co. of America boosted its stake in Emerson Electric by 1.1% in the 1st quarter. Guardian Life Insurance Co. of America now owns 2,491 shares of the industrial products company’s stock valued at $149,000 after buying an additional 28 shares in the last quarter. Finally, Busey Trust CO boosted its stake in Emerson Electric by 0.5% in the 2nd quarter. Busey Trust CO now owns 6,834 shares of the industrial products company’s stock valued at $407,000 after buying an additional 31 shares in the last quarter. Institutional investors and hedge funds own 70.18% of the company’s stock.
Several brokerages recently commented on EMR. Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $62.00 price target (up previously from $61.00) on shares of Emerson Electric in a research note on Wednesday, August 2nd. BidaskClub lowered Emerson Electric from a “sell” rating to a “strong sell” rating in a research note on Friday, August 18th. Robert W. Baird reaffirmed a “hold” rating and issued a $70.00 price target on shares of Emerson Electric in a research note on Friday, November 10th. Edward Jones lowered Emerson Electric from a “buy” rating to a “hold” rating in a research note on Friday. Finally, Berenberg Bank reaffirmed a “sell” rating and issued a $53.00 price target 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, thirteen have issued a hold rating and three have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $65.14.
In other news, insider Robert T. Sharp sold 2,000 shares of the business’s stock in a transaction on Thursday, August 31st. The stock was 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 in the company, valued at $3,792,467.10. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 0.79% of the company’s stock.
Shares of Emerson Electric Company (NYSE EMR) opened at $59.85 on Friday. The firm has a market capitalization of $38,305.20, a price-to-earnings ratio of 23.20, a PEG ratio of 2.73 and a beta of 1.24. Emerson Electric Company has a 52-week low of $53.92 and a 52-week high of $67.79. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.30 and a current ratio of 1.64.
Emerson Electric (NYSE:EMR) last released its earnings results on Tuesday, November 7th. The industrial products company reported $0.83 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.83. The company had revenue of $4.44 billion during the quarter, compared to the consensus estimate of $4.43 billion. Emerson Electric had a return on equity of 20.47% and a net margin of 9.94%. The firm’s quarterly revenue was up 12.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.74 earnings per share. research analysts forecast that Emerson Electric Company will post 2.91 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, December 11th. Stockholders of record on Friday, November 17th will be given a dividend of $0.485 per share. The ex-dividend date is Thursday, November 16th. This represents a $1.94 dividend on an annualized basis and a dividend yield of 3.24%. This is an increase from Emerson Electric’s previous quarterly dividend of $0.48. Emerson Electric’s payout ratio is presently 82.55%.
Emerson Electric Company 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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