Abbot Financial Management Inc. bought a new stake in Emerson Electric Company (NYSE:EMR) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 25,750 shares of the industrial products company’s stock, valued at approximately $1,535,000. Emerson Electric comprises about 1.4% of Abbot Financial Management Inc.’s holdings, making the stock its 29th largest position.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Fagan Associates Inc. boosted its position in Emerson Electric by 19.3% in the second quarter. Fagan Associates Inc. now owns 5,975 shares of the industrial products company’s stock valued at $356,000 after buying an additional 968 shares during the last quarter. Pinnacle Wealth Management Advisory Group LLC boosted its position in Emerson Electric by 6.6% in the second quarter. Pinnacle Wealth Management Advisory Group LLC now owns 10,075 shares of the industrial products company’s stock valued at $601,000 after buying an additional 620 shares during the last quarter. Andra AP fonden boosted its position in Emerson Electric by 5.2% in the second quarter. Andra AP fonden now owns 95,300 shares of the industrial products company’s stock valued at $5,682,000 after buying an additional 4,700 shares during the last quarter. Lipe & Dalton boosted its position in Emerson Electric by 1.3% in the second quarter. Lipe & Dalton now owns 42,125 shares of the industrial products company’s stock valued at $2,511,000 after buying an additional 560 shares during the last quarter. Finally, Vanguard Group Inc. boosted its position in Emerson Electric by 5.8% in the first quarter. Vanguard Group Inc. now owns 43,698,252 shares of the industrial products company’s stock valued at $2,615,777,000 after buying an additional 2,404,844 shares during the last quarter. Hedge funds and other institutional investors own 70.18% of the company’s stock.
Emerson Electric Company (NYSE:EMR) opened at $59.59 on Thursday. Emerson Electric Company has a 52 week low of $53.92 and a 52 week high of $67.79. The company has a quick ratio of 1.30, a current ratio of 1.64 and a debt-to-equity ratio of 0.43. The company has a market capitalization of $38,874.79, a price-to-earnings ratio of 23.54, a P/E/G ratio of 2.77 and a beta of 1.24.
Emerson Electric (NYSE:EMR) last posted its quarterly earnings data on Tuesday, November 7th. The industrial products company reported $0.83 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.83. Emerson Electric had a return on equity of 20.47% and a net margin of 9.94%. The firm had revenue of $4.44 billion during the quarter, compared to the consensus estimate of $4.43 billion. During the same period in the prior year, the company earned $0.74 EPS. The firm’s revenue was up 12.8% compared to the same quarter last year. equities analysts predict that Emerson Electric Company will post 2.9 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 11th. Investors of record on Friday, November 17th will be paid a $0.485 dividend. This is an increase from Emerson Electric’s previous quarterly dividend of $0.48. This represents a $1.94 annualized dividend and a yield of 3.26%. The ex-dividend date is Thursday, November 16th. Emerson Electric’s dividend payout ratio is currently 81.70%.
Several research firms have commented on EMR. Stifel Nicolaus restated a “buy” rating on shares of Emerson Electric in a research report on Thursday, October 12th. Wells Fargo & Company restated a “market perform” rating and issued a $65.00 price objective (up previously from $60.00) on shares of Emerson Electric in a research report on Wednesday, November 8th. Bank of America Corporation upgraded Emerson Electric from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $64.44 to $79.00 in a research report on Tuesday, October 17th. Zacks Investment Research lowered Emerson Electric from a “hold” rating to a “sell” rating in a research report on Tuesday, October 17th. Finally, Royal Bank Of Canada restated a “sector perform” rating and issued a $62.00 price objective (up previously from $61.00) on shares of Emerson Electric in a research report on Wednesday, August 2nd. Three investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and four have assigned a buy rating to the company’s stock. Emerson Electric currently has an average rating of “Hold” and an average price target of $65.14.
In related news, insider Robert T. Sharp sold 2,000 shares of the stock in a transaction on Thursday, August 31st. The stock was sold at an average price of $58.99, for a total value of $117,980.00. Following the completion of the transaction, the insider now directly owns 64,290 shares of the company’s stock, valued at approximately $3,792,467.10. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.79% of the stock is currently owned by corporate insiders.
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About Emerson Electric
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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