OLD Mutual Customised Solutions Proprietary Ltd. maintained its stake in shares of Emerson Electric Company (NYSE:EMR) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,800 shares of the industrial products company’s stock at the close of the 1st quarter. OLD Mutual Customised Solutions Proprietary Ltd.’s holdings in Emerson Electric were worth $706,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Security National Bank of SO Dak grew its position in Emerson Electric by 1.1% during the 1st quarter. Security National Bank of SO Dak now owns 13,706 shares of the industrial products company’s stock worth $821,000 after purchasing an additional 153 shares during the period. Security National Bank of Sioux City Iowa IA grew its position in Emerson Electric by 1.3% during the 1st quarter. Security National Bank of Sioux City Iowa IA now owns 14,801 shares of the industrial products company’s stock worth $886,000 after purchasing an additional 189 shares during the period. Harbour Capital Advisors LLC acquired a new stake in Emerson Electric during the 1st quarter worth about $147,000. Soros Fund Management LLC acquired a new stake in Emerson Electric during the 1st quarter worth about $275,000. Finally, New England Asset Management Inc. grew its position in Emerson Electric by 18.1% during the 1st quarter. New England Asset Management Inc. now owns 50,900 shares of the industrial products company’s stock worth $3,047,000 after purchasing an additional 7,800 shares during the period. 70.19% of the stock is currently owned by institutional investors.
In other Emerson Electric news, insider Robert T. Sharp sold 2,000 shares of the company’s stock in a transaction dated Thursday, August 31st. The shares were sold at an average price of $58.99, for a total transaction of $117,980.00. Following the transaction, the insider now directly owns 64,290 shares in the company, valued at $3,792,467.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.79% of the company’s stock.
Emerson Electric Company (NYSE:EMR) traded up 0.540% during midday trading on Tuesday, reaching $61.239. The company had a trading volume of 947,304 shares. Emerson Electric Company has a 1-year low of $49.22 and a 1-year high of $64.36. The stock has a market capitalization of $39.19 billion, a PE ratio of 27.327 and a beta of 1.18. The firm’s 50 day moving average is $59.42 and its 200 day moving average is $59.49.
Emerson Electric (NYSE:EMR) last posted its quarterly earnings results on Tuesday, August 1st. The industrial products company reported $0.68 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.68. Emerson Electric had a net margin of 8.89% and a return on equity of 22.32%. The firm had revenue of $4.04 billion during the quarter, compared to analysts’ expectations of $3.99 billion. During the same period in the prior year, the company posted $0.68 earnings per share. The firm’s revenue for the quarter was up 9.9% on a year-over-year basis. On average, equities analysts anticipate that Emerson Electric Company will post $2.61 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Monday, September 11th. Shareholders of record on Friday, August 11th were given a dividend of $0.48 per share. The ex-dividend date was Wednesday, August 9th. This represents a $1.92 annualized dividend and a yield of 3.15%. Emerson Electric’s payout ratio is currently 85.33%.
Several brokerages have weighed in on EMR. JMP Securities began coverage on Emerson Electric in a research report on Monday, June 19th. They set an “outperform” rating and a $70.00 price target on the stock. BidaskClub raised Emerson Electric from a “sell” rating to a “hold” rating in a research report on Friday, June 16th. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $62.00 price target (up from $61.00) on shares of Emerson Electric in a research report on Wednesday, August 2nd. Stifel Nicolaus reaffirmed a “buy” rating and set a $68.00 price target on shares of Emerson Electric in a research report on Wednesday, July 19th. Finally, Morgan Stanley reaffirmed an “overweight” rating on shares of Emerson Electric in a research report on Tuesday, July 11th. Three analysts have rated the stock with a sell rating, thirteen have issued a hold rating and three have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $60.52.
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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