Gotham Asset Management LLC raised its stake in shares of Emerson Electric Company (NYSE:EMR) by 1.5% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 901,491 shares of the industrial products company’s stock after purchasing an additional 13,016 shares during the period. Emerson Electric accounts for approximately 0.8% of Gotham Asset Management LLC’s holdings, making the stock its 10th biggest position. Gotham Asset Management LLC owned 0.14% of Emerson Electric worth $53,747,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in EMR. Oppenheimer Asset Management Inc. purchased a new stake in Emerson Electric in the 1st quarter worth about $127,000. AT Bancorp purchased a new stake in Emerson Electric in the 2nd quarter worth about $139,000. Harbour Capital Advisors LLC purchased a new position in shares of Emerson Electric during the first quarter worth approximately $147,000. Guardian Life Insurance Co. of America increased its position in shares of Emerson Electric by 1.1% during the first quarter. Guardian Life Insurance Co. of America now owns 2,491 shares of the industrial products company’s stock worth $149,000 after acquiring an additional 28 shares during the period. Finally, Perkins Coie Trust Co purchased a new position in shares of Emerson Electric during the second quarter worth approximately $150,000. 69.00% of the stock is owned by institutional investors and hedge funds.
A number of equities analysts have recently commented on EMR shares. Stifel Nicolaus reaffirmed a “buy” rating and set a $72.00 target price (up from $68.00) on shares of Emerson Electric in a research report on Thursday, November 9th. Cowen raised shares of Emerson Electric to a “buy” rating and set a $71.00 price objective on the stock in a report on Monday, October 23rd. Bank of America raised shares of Emerson Electric from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $64.44 to $79.00 in a report on Tuesday, October 17th. Morgan Stanley reissued an “equal weight” rating and set a $67.00 price objective (up from $64.00) on shares of Emerson Electric in a report on Monday, October 2nd. Finally, Zacks Investment Research raised shares of Emerson Electric from a “sell” rating to a “hold” rating in a report on Tuesday, October 31st. Three research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and four have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $65.14.
Emerson Electric (NYSE:EMR) last posted its earnings results on Tuesday, November 7th. The industrial products company reported $0.83 earnings per share (EPS) for the quarter, meeting 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 net margin of 9.94% and a return on equity of 20.47%. The firm’s quarterly revenue was up 12.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.74 earnings per share. research analysts predict that Emerson Electric Company will post 2.91 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 11th. Shareholders of record on Friday, November 17th will be issued a $0.485 dividend. This is a boost from Emerson Electric’s previous quarterly dividend of $0.48. The ex-dividend date of this dividend is Thursday, November 16th. This represents a $1.94 dividend on an annualized basis and a yield of 3.00%. Emerson Electric’s payout ratio is presently 82.55%.
In other Emerson Electric news, VP Bell Katherine Button sold 7,909 shares of Emerson Electric stock in a transaction on Thursday, November 30th. The shares were sold at an average price of $64.78, for a total value of $512,345.02. Following the completion of the transaction, the vice president now owns 44,628 shares of the company’s stock, valued at $2,891,001.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.79% of the stock is currently owned by insiders.
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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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