Providence Capital Advisors LLC boosted its holdings in shares of Emerson Electric Co. (NYSE:EMR) by 9.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 39,500 shares of the industrial products company’s stock after buying an additional 3,400 shares during the quarter. Emerson Electric makes up about 1.6% of Providence Capital Advisors LLC’s investment portfolio, making the stock its 20th largest holding. Providence Capital Advisors LLC’s holdings in Emerson Electric were worth $2,635,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Delta Asset Management LLC TN grew its stake in shares of Emerson Electric by 0.5% during the 2nd quarter. Delta Asset Management LLC TN now owns 114,619 shares of the industrial products company’s stock valued at $7,647,000 after acquiring an additional 598 shares during the period. DNB Asset Management AS lifted its holdings in Emerson Electric by 4.3% during the second quarter. DNB Asset Management AS now owns 127,098 shares of the industrial products company’s stock valued at $8,480,000 after purchasing an additional 5,283 shares in the last quarter. Calamos Advisors LLC boosted its position in shares of Emerson Electric by 1.0% in the second quarter. Calamos Advisors LLC now owns 909,510 shares of the industrial products company’s stock worth $60,682,000 after purchasing an additional 9,115 shares during the period. First Merchants Corp boosted its position in shares of Emerson Electric by 9.8% in the second quarter. First Merchants Corp now owns 22,884 shares of the industrial products company’s stock worth $1,526,000 after purchasing an additional 2,044 shares during the period. Finally, AdvisorNet Financial Inc increased its stake in shares of Emerson Electric by 13.4% in the second quarter. AdvisorNet Financial Inc now owns 16,196 shares of the industrial products company’s stock worth $1,081,000 after purchasing an additional 1,916 shares in the last quarter. Institutional investors own 70.57% of the company’s stock.
In other Emerson Electric news, VP Bell Katherine Button sold 7,794 shares of Emerson Electric stock in a transaction that occurred on Tuesday, June 18th. The stock was sold at an average price of $64.17, for a total value of $500,140.98. Following the sale, the vice president now owns 22,510 shares of the company’s stock, valued at approximately $1,444,466.70. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.07% of the stock is currently owned by corporate insiders.
NYSE EMR traded up $0.30 on Wednesday, reaching $65.11. The company had a trading volume of 254,845 shares, compared to its average volume of 2,944,469. The company has a quick ratio of 0.85, a current ratio of 1.18 and a debt-to-equity ratio of 0.49. The stock has a market capitalization of $39.65 billion, a PE ratio of 19.29, a price-to-earnings-growth ratio of 2.14 and a beta of 1.35. The firm’s 50 day moving average price is $60.85 and its 200 day moving average price is $65.43. Emerson Electric Co. has a 12 month low of $55.38 and a 12 month high of $79.70.
Emerson Electric (NYSE:EMR) last released its quarterly earnings data on Tuesday, August 6th. The industrial products company reported $0.94 EPS for the quarter, meeting the consensus estimate of $0.94. Emerson Electric had a net margin of 12.06% and a return on equity of 24.67%. The business had revenue of $4.68 billion during the quarter, compared to the consensus estimate of $4.82 billion. During the same quarter in the prior year, the firm earned $1.12 EPS. The business’s revenue was up 5.1% on a year-over-year basis. On average, research analysts expect that Emerson Electric Co. will post 3.64 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Friday, August 16th were paid a dividend of $0.49 per share. This represents a $1.96 dividend on an annualized basis and a yield of 3.01%. The ex-dividend date was Thursday, August 15th. Emerson Electric’s payout ratio is presently 57.99%.
Several analysts have recently commented on EMR shares. Morgan Stanley decreased their price objective on shares of Emerson Electric from $84.00 to $76.00 and set an “overweight” rating on the stock in a research report on Thursday, August 8th. Citigroup dropped their target price on shares of Emerson Electric from $79.00 to $77.00 and set a “buy” rating for the company in a report on Tuesday, July 30th. Zacks Investment Research lowered Emerson Electric from a “hold” rating to a “sell” rating and set a $69.00 price target for the company. in a research note on Tuesday, July 23rd. Barclays reissued a “hold” rating and set a $65.00 price target on shares of Emerson Electric in a report on Wednesday, September 4th. Finally, Argus downgraded Emerson Electric from a “buy” rating to a “hold” rating in a research report on Tuesday, August 13th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $72.29.
Emerson Electric Company Profile
Emerson Electric Co, a technology and engineering company, provides various solutions to industrial, commercial, and consumer markets worldwide. The company's Automation Solutions segment offers products and integrated solutions, including measurement and analytical instrumentation; valves, actuators, and regulators; industrial solutions; and process control systems and solutions.
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