Credit Suisse AG trimmed its stake in Emerson Electric Company (NYSE:EMR) by 8.1% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 1,376,909 shares of the industrial products company’s stock after selling 120,629 shares during the period. Credit Suisse AG owned about 0.21% of Emerson Electric worth $82,421,000 as of its most recent filing with the SEC.
Several other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in Emerson Electric by 5.8% during the 1st quarter. Vanguard Group Inc. now owns 43,698,252 shares of the industrial products company’s stock worth $2,615,777,000 after buying an additional 2,404,844 shares during the period. Bank of New York Mellon Corp increased its stake in Emerson Electric by 2.3% during the 1st quarter. Bank of New York Mellon Corp now owns 14,552,526 shares of the industrial products company’s stock worth $871,114,000 after buying an additional 332,238 shares during the period. American International Group Inc. increased its stake in Emerson Electric by 0.6% during the 1st quarter. American International Group Inc. now owns 9,041,764 shares of the industrial products company’s stock worth $541,240,000 after buying an additional 53,444 shares during the period. American Century Companies Inc. increased its stake in Emerson Electric by 19.4% during the 1st quarter. American Century Companies Inc. now owns 4,338,862 shares of the industrial products company’s stock worth $259,724,000 after buying an additional 705,924 shares during the period. Finally, Legal & General Group Plc increased its stake in Emerson Electric by 5.5% during the 1st quarter. Legal & General Group Plc now owns 3,358,845 shares of the industrial products company’s stock worth $201,055,000 after buying an additional 174,816 shares during the period. 70.19% of the stock is currently owned by institutional investors and hedge funds.
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Shares of Emerson Electric Company (NYSE:EMR) traded up 0.60% during midday trading on Monday, hitting $60.76. 895,032 shares of the company’s stock were exchanged. The stock has a market cap of $38.89 billion, a PE ratio of 27.11 and a beta of 1.18. The stock’s 50 day moving average is $59.42 and its 200-day moving average is $59.49. Emerson Electric Company has a 1-year low of $49.22 and a 1-year high of $64.36.
Emerson Electric (NYSE:EMR) last announced its quarterly earnings results on Tuesday, August 1st. The industrial products company reported $0.68 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.68. Emerson Electric had a net margin of 8.89% and a return on equity of 22.32%. The company had revenue of $4.04 billion during the quarter, compared to the consensus estimate of $3.99 billion. During the same quarter in the previous year, the company posted $0.68 earnings per share. The company’s revenue for the quarter was up 9.9% compared to the same quarter last year. Analysts predict that Emerson Electric Company will post $2.61 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, September 11th. Stockholders of record on Friday, August 11th will be issued a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 3.18%. The ex-dividend date of this dividend is Wednesday, August 9th. Emerson Electric’s dividend payout ratio (DPR) is 85.33%.
Several equities research analysts recently weighed in on EMR shares. BidaskClub raised shares of Emerson Electric from a “sell” rating to a “hold” rating in a research note on Friday, June 16th. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $62.00 target price (up from $61.00) on shares of Emerson Electric in a research note on Wednesday, August 2nd. JMP Securities started coverage on shares of Emerson Electric in a research note on Monday, June 19th. They set an “outperform” rating and a $70.00 target price on the stock. Berenberg Bank reaffirmed a “sell” rating and set a $53.00 target price on shares of Emerson Electric in a research note on Friday, August 11th. Finally, Morgan Stanley reaffirmed an “overweight” rating on shares of Emerson Electric in a research note on Tuesday, July 11th. Three investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and three have issued a buy rating to the company. Emerson Electric presently has an average rating of “Hold” and a consensus target price of $60.52.
In other news, insider Robert T. Sharp sold 2,000 shares of the business’s stock in a transaction on Thursday, August 31st. The shares were sold at an average price of $58.99, for a total transaction of $117,980.00. Following the completion of the transaction, the insider now owns 64,290 shares of the company’s stock, valued at $3,792,467.10. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 0.79% of the company’s stock.
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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