ProShare Advisors LLC lifted its position in Emerson Electric Company (NYSE:EMR) by 4.6% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,031,907 shares of the industrial products company’s stock after purchasing an additional 45,569 shares during the period. ProShare Advisors LLC owned about 0.16% of Emerson Electric worth $61,522,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Oppenheimer Asset Management Inc. purchased a new position in Emerson Electric during the first quarter valued at $127,000. AT Bancorp purchased a new position in Emerson Electric during the second quarter valued at $139,000. Harbour Capital Advisors LLC purchased a new position in Emerson Electric during the first quarter valued at $147,000. Guardian Life Insurance Co. of America grew its stake in Emerson Electric by 1.1% during the first quarter. Guardian Life Insurance Co. of America now owns 2,491 shares of the industrial products company’s stock valued at $149,000 after acquiring an additional 28 shares in the last quarter. Finally, Perkins Coie Trust Co purchased a new position in Emerson Electric during the second quarter valued at $150,000. 70.18% of the stock is owned by hedge funds and other institutional investors.
EMR has been the subject of several research analyst reports. Stifel Nicolaus reaffirmed a “buy” rating and set a $68.00 target price on shares of Emerson Electric in a research note on Wednesday, July 19th. BidaskClub cut shares of Emerson Electric from a “hold” rating to a “sell” rating in a research note on Friday, July 28th. 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. 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 “equal weight” rating and set a $67.00 target price (up from $64.00) on shares of Emerson Electric in a research note on Monday, October 2nd. Three research analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $65.14.
Shares of Emerson Electric Company (EMR) opened at $60.74 on Wednesday. The stock has a market cap of $39,290.80, a PE ratio of 23.80, a PEG ratio of 2.80 and a beta of 1.24. The company has a quick ratio of 1.30, a current ratio of 1.64 and a debt-to-equity ratio of 0.43. Emerson Electric Company has a twelve month low of $53.92 and a twelve month high of $67.79.
Emerson Electric (NYSE:EMR) last released its earnings results on Tuesday, November 7th. The industrial products company reported $0.83 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.83. The firm had revenue of $4.44 billion during the quarter, compared to analyst estimates of $4.43 billion. Emerson Electric had a net margin of 9.94% and a return on equity of 20.47%. The business’s revenue was up 12.8% on a year-over-year basis. During the same quarter last year, the business earned $0.74 EPS. research analysts expect that Emerson Electric Company will post 2.9 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, December 11th. Stockholders of record on Friday, November 17th will be issued a $0.485 dividend. This represents a $1.94 annualized dividend and a dividend yield of 3.19%. The ex-dividend date is Thursday, November 16th. This is a positive change from Emerson Electric’s previous quarterly dividend of $0.48. Emerson Electric’s dividend payout ratio (DPR) is 81.70%.
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In other news, insider Robert T. Sharp sold 2,000 shares of the firm’s stock in a transaction dated Thursday, August 31st. The shares were sold at an average price of $58.99, for a total value of $117,980.00. Following the completion of the sale, the insider now owns 64,290 shares in the company, valued at approximately $3,792,467.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.79% of the stock is currently owned by company insiders.
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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