Alpha Cubed Investments LLC raised its stake in shares of Emerson Electric Company (NYSE:EMR) by 13.6% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 8,514 shares of the industrial products company’s stock after purchasing an additional 1,016 shares during the period. Alpha Cubed Investments LLC’s holdings in Emerson Electric were worth $508,000 at the end of the most recent reporting period.
A number of other hedge funds also recently modified their holdings of the stock. Vanguard Group Inc. increased its position in Emerson Electric by 5.8% during the first quarter. Vanguard Group Inc. now owns 43,698,252 shares of the industrial products company’s stock worth $2,615,777,000 after purchasing an additional 2,404,844 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of Emerson Electric by 2.3% in the first 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 acquiring an additional 332,238 shares in the last quarter. Longview Partners Guernsey LTD increased its position in shares of Emerson Electric by 4.4% in the second quarter. Longview Partners Guernsey LTD now owns 12,624,050 shares of the industrial products company’s stock worth $752,646,000 after acquiring an additional 526,712 shares in the last quarter. American International Group Inc. increased its position in shares of Emerson Electric by 0.6% in the first quarter. American International Group Inc. now owns 9,041,764 shares of the industrial products company’s stock worth $541,240,000 after acquiring an additional 53,444 shares in the last quarter. Finally, American Century Companies Inc. increased its position in shares of Emerson Electric by 19.4% in the first quarter. American Century Companies Inc. now owns 4,338,862 shares of the industrial products company’s stock worth $259,724,000 after acquiring an additional 705,924 shares in the last quarter. 70.19% of the stock is owned by hedge funds and other institutional investors.
Several equities research analysts have recently issued reports on the stock. BidaskClub lowered shares of Emerson Electric from a “hold” rating to a “sell” rating in a research report on Friday, June 9th. Stifel Nicolaus reissued a “buy” rating and issued a $68.00 price objective on shares of Emerson Electric in a research report on Wednesday, July 19th. Morgan Stanley reissued an “overweight” rating on shares of Emerson Electric in a research report on Tuesday, July 11th. JMP Securities assumed coverage on shares of Emerson Electric in a research report on Monday, June 19th. They issued an “outperform” rating and a $70.00 price objective for the company. Finally, Berenberg Bank reissued a “sell” rating and issued a $53.00 price objective on shares of Emerson Electric in a research report on Friday, August 11th. Three equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and three have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $60.52.
In other news, insider Robert T. Sharp sold 2,000 shares of Emerson Electric stock in a transaction that occurred on Thursday, August 31st. The shares were sold at an average price of $58.99, for a total value of $117,980.00. Following the transaction, the insider now owns 64,290 shares of the company’s stock, valued at $3,792,467.10. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 0.79% of the company’s stock.
Emerson Electric Company (NYSE EMR) opened at 61.26 on Wednesday. The stock has a 50 day moving average of $59.47 and a 200 day moving average of $59.50. Emerson Electric Company has a 52 week low of $49.22 and a 52 week high of $64.36. The stock has a market capitalization of $39.21 billion, a P/E ratio of 27.34 and a beta of 1.18.
Emerson Electric (NYSE:EMR) last released its quarterly earnings results on Tuesday, August 1st. The industrial products company reported $0.68 EPS for the quarter, meeting the Zacks’ 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 for the quarter, compared to analyst estimates of $3.99 billion. During the same quarter last year, the firm posted $0.68 earnings per share. The company’s quarterly revenue was up 9.9% compared to the same quarter last year. On average, equities research 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 was paid on Monday, September 11th. Stockholders of record on Friday, August 11th were given a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 3.13%. The ex-dividend date was Wednesday, August 9th. Emerson Electric’s dividend payout ratio is 85.33%.
Emerson Electric Company 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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