Beach Investment Management LLC. purchased a new stake in Emerson Electric Company (NYSE:EMR) during the second quarter, according to its most recent filing with the SEC. The fund purchased 12,938 shares of the company’s stock, valued at approximately $771,000.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Vanguard Group Inc. increased its holdings in Emerson Electric by 5.8% in the 1st quarter. Vanguard Group Inc. now owns 43,698,252 shares of the company’s stock valued at $2,615,777,000 after acquiring an additional 2,404,844 shares during the last quarter. Longview Partners Guernsey LTD increased its holdings in shares of Emerson Electric by 4.4% in the 2nd quarter. Longview Partners Guernsey LTD now owns 12,624,050 shares of the company’s stock worth $752,646,000 after buying an additional 526,712 shares during the last quarter. American International Group Inc. increased its holdings in shares of Emerson Electric by 0.6% in the 1st quarter. American International Group Inc. now owns 9,041,764 shares of the company’s stock worth $541,240,000 after buying an additional 53,444 shares during the last quarter. APG Asset Management N.V. increased its holdings in shares of Emerson Electric by 5.5% in the 2nd quarter. APG Asset Management N.V. now owns 3,537,819 shares of the company’s stock worth $210,925,000 after buying an additional 185,300 shares during the last quarter. Finally, Legal & General Group Plc increased its holdings in shares of Emerson Electric by 5.5% in the 1st quarter. Legal & General Group Plc now owns 3,358,845 shares of the company’s stock worth $201,055,000 after buying an additional 174,816 shares during the last quarter. Institutional investors own 70.14% of the company’s stock.
Shares of Emerson Electric Company (EMR) opened at C$61.61 on Friday. Emerson Electric Company has a 52-week low of C$53.92 and a 52-week high of C$67.79. The firm has a market cap of $39,431.63, a P/E ratio of 23.88, a PEG ratio of 2.81 and a beta of 1.24. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.64 and a quick ratio of 1.24.
Emerson Electric (NYSE:EMR) last announced its quarterly earnings results on Tuesday, November 7th. The company reported C$0.83 earnings per share for the quarter, hitting the consensus estimate of C$0.83. Emerson Electric had a net margin of 9.94% and a return on equity of 20.47%. The firm had revenue of C$4.44 billion during the quarter, compared to analysts’ expectations of C$4.43 billion. During the same quarter in the prior year, the company earned $0.74 EPS. The company’s revenue was up 12.8% compared to the same quarter last year. research analysts expect that Emerson Electric Company will post 2.9 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, December 11th. Stockholders of record on Friday, November 17th will be given a $0.485 dividend. This represents a $1.94 annualized dividend and a dividend yield of 3.15%. The ex-dividend date is Thursday, November 16th. This is a boost from Emerson Electric’s previous quarterly dividend of $0.48. Emerson Electric’s dividend payout ratio is presently 81.70%.
A number of analysts have recently weighed in on the stock. Wells Fargo & Company restated a “market perform” rating and issued a $65.00 target price (up from $60.00) on shares of Emerson Electric in a report on Wednesday. Royal Bank of Canada restated a “sector perform” rating and issued a $62.00 target price (up from $61.00) on shares of Emerson Electric in a report on Wednesday, August 2nd. BidaskClub downgraded shares of Emerson Electric from a “sell” rating to a “strong sell” rating in a report on Friday, August 18th. Robert W. Baird reiterated a “hold” rating and set a $70.00 price target on shares of Emerson Electric in a report on Friday. Finally, Zacks Investment Research upgraded shares of Emerson Electric from a “sell” rating to a “hold” rating in a report on Tuesday, October 31st. Three investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and four have issued a buy rating to the stock. Emerson Electric presently has an average rating of “Hold” and a consensus price target of C$65.14.
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In other 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 C$58.99, for a total value of C$117,980.00. Following the completion of the sale, the insider now owns 64,290 shares of the company’s stock, valued at approximately C$3,792,467.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.79% of the stock is currently owned by corporate insiders.
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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