Ameriprise Financial Inc. lessened its stake in Emerson Electric Company (NYSE:EMR) by 82.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 393,661 shares of the company’s stock after selling 1,898,089 shares during the period. Ameriprise Financial Inc. owned 0.06% of Emerson Electric worth $23,468,000 as of its most recent SEC filing.
Other hedge funds also recently bought and sold shares of the company. Oppenheimer Asset Management Inc. purchased a new position in Emerson Electric in the 1st quarter worth about $127,000. AT Bancorp purchased a new position in Emerson Electric in the 2nd quarter worth about $139,000. Harbour Capital Advisors LLC purchased a new position in Emerson Electric in the 1st quarter worth about $147,000. Guardian Life Insurance Co. of America increased 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 company’s stock worth $149,000 after buying an additional 28 shares during the period. Finally, Perkins Coie Trust Co purchased a new position in Emerson Electric in the 2nd quarter worth about $150,000. 70.14% of the stock is currently owned by institutional investors.
Shares of Emerson Electric Company (EMR) opened at C$61.61 on Friday. Emerson Electric Company has a 1-year low of C$53.92 and a 1-year high of C$67.79. The firm has a market cap of $39,431.63, a PE 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 released its quarterly earnings results on Tuesday, November 7th. The company reported C$0.83 earnings per share for the quarter, meeting analysts’ consensus estimates of C$0.83. The business had revenue of C$4.44 billion for the quarter, compared to analysts’ expectations of C$4.43 billion. Emerson Electric had a net margin of 9.94% and a return on equity of 20.47%. The company’s revenue was up 12.8% compared to the same quarter last year. During the same period last year, the business earned $0.74 EPS. sell-side analysts predict that Emerson Electric Company will post 2.9 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, December 11th. Investors of record on Friday, November 17th will be paid a $0.485 dividend. The ex-dividend date is Thursday, November 16th. This is a boost from Emerson Electric’s previous quarterly dividend of $0.48. This represents a $1.94 dividend on an annualized basis and a yield of 3.15%. Emerson Electric’s dividend payout ratio (DPR) is 81.70%.
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In related news, insider Robert T. Sharp sold 2,000 shares of Emerson Electric 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 directly owns 64,290 shares in the company, valued at approximately C$3,792,467.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.79% of the stock is owned by company insiders.
Several research analysts have issued reports on the stock. Cowen and Company upgraded shares of Emerson Electric to a “buy” rating and set a $71.00 target price on the stock in a report on Monday, October 23rd. Stifel Nicolaus reiterated a “buy” rating and set a $68.00 target price on shares of Emerson Electric in a report on Wednesday, July 19th. Bank of America Corporation upgraded shares of Emerson Electric from a “neutral” rating to a “buy” rating and increased their target price for the stock from $64.44 to $79.00 in a report on Tuesday, October 17th. Morgan Stanley reiterated an “equal weight” rating and set a $67.00 target price (up from $64.00) on shares of Emerson Electric in a report on Monday, October 2nd. 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 given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of C$65.14.
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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