Morningstar Investment Services LLC acquired a new stake in Emerson Electric Co. (NYSE:EMR) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 94,510 shares of the industrial products company’s stock, valued at approximately $6,306,000.
Several other institutional investors have also made changes to their positions in the company. Delta Asset Management LLC TN lifted its position in shares of Emerson Electric by 0.5% in the second quarter. Delta Asset Management LLC TN now owns 114,619 shares of the industrial products company’s stock worth $7,647,000 after buying an additional 598 shares in the last quarter. DNB Asset Management AS boosted its holdings in shares of Emerson Electric by 4.3% in the 2nd quarter. DNB Asset Management AS now owns 127,098 shares of the industrial products company’s stock worth $8,480,000 after purchasing an additional 5,283 shares during the period. Calamos Advisors LLC increased its position in shares of Emerson Electric by 1.0% during the 2nd quarter. Calamos Advisors LLC now owns 909,510 shares of the industrial products company’s stock valued at $60,682,000 after purchasing an additional 9,115 shares during the last quarter. First Merchants Corp increased its position in shares of Emerson Electric by 9.8% during the 2nd quarter. First Merchants Corp now owns 22,884 shares of the industrial products company’s stock valued at $1,526,000 after purchasing an additional 2,044 shares during the last quarter. Finally, AdvisorNet Financial Inc raised its holdings in Emerson Electric by 13.4% during the 2nd quarter. AdvisorNet Financial Inc now owns 16,196 shares of the industrial products company’s stock valued at $1,081,000 after buying an additional 1,916 shares during the period. Institutional investors and hedge funds own 70.57% of the company’s stock.
EMR traded up $0.06 during trading hours on Wednesday, reaching $64.87. 204,484 shares of the company’s stock traded hands, compared to its average volume of 2,944,469. The firm has a 50-day moving average price of $60.85 and a 200 day moving average price of $65.43. The firm has a market capitalization of $39.65 billion, a PE ratio of 19.18, a PEG ratio of 2.14 and a beta of 1.35. The company has a quick ratio of 0.85, a current ratio of 1.18 and a debt-to-equity ratio of 0.49. Emerson Electric Co. has a 52-week low of $55.38 and a 52-week high of $79.70.
Emerson Electric (NYSE:EMR) last released its earnings results on Tuesday, August 6th. The industrial products company reported $0.94 earnings per share for the quarter, hitting the consensus estimate of $0.94. The business had revenue of $4.68 billion during the quarter, compared to the consensus estimate of $4.82 billion. Emerson Electric had a return on equity of 24.67% and a net margin of 12.06%. The business’s revenue for the quarter was up 5.1% compared to the same quarter last year. During the same period last year, the company earned $1.12 earnings per share. Equities analysts predict that Emerson Electric Co. will post 3.64 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Friday, August 16th were paid a $0.49 dividend. This represents a $1.96 annualized dividend and a yield of 3.02%. The ex-dividend date of this dividend was Thursday, August 15th. Emerson Electric’s dividend payout ratio is presently 57.99%.
EMR has been the subject of a number of analyst reports. Deutsche Bank lowered their price target on Emerson Electric from $74.00 to $73.00 and set a “buy” rating for the company in a research report on Monday, August 5th. Credit Suisse Group cut their price objective on shares of Emerson Electric from $74.00 to $70.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 7th. Citigroup reduced their target price on shares of Emerson Electric from $79.00 to $77.00 and set a “buy” rating on the stock in a research note on Tuesday, July 30th. Argus lowered shares of Emerson Electric from a “buy” rating to a “hold” rating in a report on Tuesday, August 13th. Finally, Cowen restated a “buy” rating and issued a $72.00 target price on shares of Emerson Electric in a report on Friday, August 9th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $72.29.
In related news, VP Bell Katherine Button sold 4,470 shares of Emerson Electric stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $65.00, for a total transaction of $290,550.00. Following the completion of the sale, the vice president now owns 18,040 shares in the company, valued at approximately $1,172,600. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.07% of the company’s stock.
Emerson Electric 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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