King Luther Capital Management Corp grew its holdings in Emerson Electric Co. (NYSE:EMR) by 8.1% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,479,120 shares of the industrial products company’s stock after buying an additional 110,669 shares during the quarter. King Luther Capital Management Corp owned 0.24% of Emerson Electric worth $113,271,000 as of its most recent SEC filing.
Several other institutional investors have also bought and sold shares of the company. Tocqueville Asset Management L.P. increased its position in shares of Emerson Electric by 0.4% in the third quarter. Tocqueville Asset Management L.P. now owns 240,450 shares of the industrial products company’s stock valued at $18,414,000 after buying an additional 900 shares in the last quarter. Plancorp LLC increased its position in shares of Emerson Electric by 0.9% during the third quarter. Plancorp LLC now owns 289,167 shares of the industrial products company’s stock worth $22,144,000 after purchasing an additional 2,493 shares in the last quarter. Invictus RG purchased a new stake in shares of Emerson Electric during the third quarter worth approximately $386,000. WEALTHFRONT Corp increased its position in shares of Emerson Electric by 5.5% during the third quarter. WEALTHFRONT Corp now owns 20,556 shares of the industrial products company’s stock worth $1,574,000 after purchasing an additional 1,063 shares in the last quarter. Finally, First Republic Investment Management Inc. increased its position in shares of Emerson Electric by 1.6% during the third quarter. First Republic Investment Management Inc. now owns 141,505 shares of the industrial products company’s stock worth $10,837,000 after purchasing an additional 2,183 shares in the last quarter. Institutional investors and hedge funds own 70.55% of the company’s stock.
In other news, President Edward L. Monser sold 30,000 shares of the company’s stock in a transaction on Friday, September 7th. The stock was sold at an average price of $75.84, for a total value of $2,275,200.00. Following the transaction, the president now owns 176,477 shares of the company’s stock, valued at approximately $13,384,015.68. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, President Edward L. Monser sold 60,000 shares of the company’s stock in a transaction on Monday, September 10th. The shares were sold at an average price of $76.10, for a total value of $4,566,000.00. Following the completion of the transaction, the president now directly owns 176,477 shares in the company, valued at approximately $13,429,899.70. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 99,070 shares of company stock valued at $7,457,960. 0.84% of the stock is owned by company insiders.
Several analysts recently commented on EMR shares. Barclays boosted their price target on Emerson Electric from $85.00 to $88.00 and gave the stock an “overweight” rating in a research report on Monday, September 24th. Gordon Haskett started coverage on Emerson Electric in a research report on Friday, October 12th. They set a “buy” rating for the company. Bank of America boosted their price target on Emerson Electric from $82.00 to $90.00 and gave the stock a “buy” rating in a research report on Thursday, October 4th. Zacks Investment Research cut Emerson Electric from a “buy” rating to a “hold” rating in a research report on Friday, October 5th. Finally, Morgan Stanley started coverage on Emerson Electric in a research report on Monday, August 20th. They set an “overweight” rating and a $85.00 price target for the company. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and fourteen have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $78.39.
Shares of NYSE:EMR opened at $65.65 on Wednesday. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.07 and a quick ratio of 0.78. The firm has a market capitalization of $42.28 billion, a price-to-earnings ratio of 19.42, a P/E/G ratio of 2.10 and a beta of 1.21. Emerson Electric Co. has a 52-week low of $64.55 and a 52-week high of $79.70.
Emerson Electric (NYSE:EMR) last issued its earnings results on Tuesday, November 6th. The industrial products company reported $0.89 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.92 by ($0.03). The company had revenue of $4.89 billion during the quarter, compared to analysts’ expectations of $4.91 billion. Emerson Electric had a net margin of 12.65% and a return on equity of 23.06%. The firm’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.83 earnings per share. As a group, equities analysts expect that Emerson Electric Co. will post 3.68 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, December 10th. Shareholders of record on Friday, November 16th will be issued a $0.49 dividend. This is a boost from Emerson Electric’s previous quarterly dividend of $0.49. This represents a $1.96 annualized dividend and a yield of 2.99%. The ex-dividend date of this dividend is Thursday, November 15th. Emerson Electric’s dividend payout ratio is presently 57.99%.
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Emerson Electric Profile
Emerson Electric Co, a technology and engineering company, provides various solutions to industrial, commercial, and residential markets worldwide. The company's Automation Solutions segment offers software; measurement and analytical instrumentation; valves, actuators, and regulators; industry services and solutions; process control systems and solutions; and digital plant solutions.
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