WEALTHFRONT Corp increased its stake in Emerson Electric Co. (NYSE:EMR) by 5.5% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 20,556 shares of the industrial products company’s stock after acquiring an additional 1,063 shares during the quarter. WEALTHFRONT Corp’s holdings in Emerson Electric were worth $1,574,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of EMR. Bay Colony Advisory Group Inc d b a Bay Colony Advisors acquired a new position in shares of Emerson Electric in the second quarter worth approximately $102,000. Tradewinds Capital Management LLC lifted its stake in shares of Emerson Electric by 584.1% in the third quarter. Tradewinds Capital Management LLC now owns 1,416 shares of the industrial products company’s stock worth $108,000 after acquiring an additional 1,209 shares during the period. Sun Life Financial INC lifted its stake in shares of Emerson Electric by 761.6% in the second quarter. Sun Life Financial INC now owns 1,706 shares of the industrial products company’s stock worth $118,000 after acquiring an additional 1,508 shares during the period. Fort L.P. acquired a new position in shares of Emerson Electric in the second quarter worth approximately $118,000. Finally, BDO Wealth Advisors LLC lifted its stake in shares of Emerson Electric by 320.6% in the second quarter. BDO Wealth Advisors LLC now owns 1,834 shares of the industrial products company’s stock worth $127,000 after acquiring an additional 1,398 shares during the period. 70.55% of the stock is currently owned by institutional investors.
EMR stock opened at $64.04 on Friday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.78 and a current ratio of 1.07. Emerson Electric Co. has a 1-year low of $62.04 and a 1-year high of $79.70. The firm has a market capitalization of $41.11 billion, a price-to-earnings ratio of 18.95, a price-to-earnings-growth ratio of 2.01 and a beta of 1.21.
Emerson Electric (NYSE:EMR) last posted its quarterly earnings data on Tuesday, November 6th. The industrial products company reported $0.89 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.92 by ($0.03). Emerson Electric had a return on equity of 23.06% and a net margin of 12.65%. The business had revenue of $4.89 billion during the quarter, compared to analysts’ expectations of $4.91 billion. During the same period in the prior year, the firm posted $0.83 EPS. The firm’s revenue for the quarter was up 10.2% on a year-over-year basis. As a group, research analysts predict that Emerson Electric Co. will post 3.68 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 10th. Shareholders of record on Friday, November 16th will be given a $0.49 dividend. The ex-dividend date of this dividend is Thursday, November 15th. This represents a $1.96 annualized dividend and a yield of 3.06%. This is a boost from Emerson Electric’s previous quarterly dividend of $0.49. Emerson Electric’s payout ratio is currently 57.99%.
In other Emerson Electric news, insider Surendralal Lanca Karsanbhai sold 9,070 shares of the business’s stock in a transaction on Wednesday, November 28th. The stock was sold at an average price of $68.00, for a total value of $616,760.00. Following the transaction, the insider now owns 20,000 shares of the company’s stock, valued at $1,360,000. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, President Edward L. Monser sold 60,000 shares of the business’s stock in a transaction on Monday, September 10th. The stock was 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. 0.79% of the stock is currently owned by insiders.
A number of brokerages have weighed in on EMR. Bank of America lifted their target price on Emerson Electric from $82.00 to $90.00 and gave the stock a “buy” rating in a report on Thursday, October 4th. Cowen reiterated a “buy” rating and issued a $81.00 target price on shares of Emerson Electric in a report on Wednesday, September 19th. Zacks Investment Research upgraded Emerson Electric from a “hold” rating to a “buy” rating and set a $88.00 target price for the company in a report on Thursday, October 4th. Barclays lifted their target price on Emerson Electric from $85.00 to $88.00 and gave the stock an “overweight” rating in a report on Monday, September 24th. Finally, UBS Group lifted their target price on Emerson Electric from $85.00 to $90.00 and gave the stock a “buy” rating in a report on Thursday, August 30th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and fourteen have given a buy rating to the company. Emerson Electric presently has an average rating of “Buy” and an average target price of $78.39.
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Emerson Electric Company 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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