Emerson Electric Co. (EMR) Stake Increased by First Interstate Bank
First Interstate Bank raised its stake in Emerson Electric Co. (NYSE:EMR) by 0.6% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 104,133 shares of the company’s stock after buying an additional 626 shares during the period. First Interstate Bank’s holdings in Emerson Electric were worth $5,432,000 as of its most recent filing with the SEC.
Other institutional investors have also added to or reduced their stakes in the company. Arcadia Investment Management Corp MI raised its stake in shares of Emerson Electric by 11.4% in the second quarter. Arcadia Investment Management Corp MI now owns 2,281 shares of the company’s stock valued at $119,000 after buying an additional 234 shares during the period. Americafirst Capital Management LLC bought a new stake in Emerson Electric during the second quarter worth about $128,000. Integrated Investment Consultants LLC raised its stake in Emerson Electric by 99.5% in the second quarter. Integrated Investment Consultants LLC now owns 2,530 shares of the company’s stock worth $132,000 after buying an additional 1,262 shares during the last quarter. TCI Wealth Advisors Inc. raised its stake in Emerson Electric by 90.6% in the second quarter. TCI Wealth Advisors Inc. now owns 2,524 shares of the company’s stock worth $132,000 after buying an additional 1,200 shares during the last quarter. Finally, Oakworth Capital Inc. raised its stake in Emerson Electric by 405.6% in the second quarter. Oakworth Capital Inc. now owns 2,705 shares of the company’s stock worth $141,000 after buying an additional 2,170 shares during the last quarter. Institutional investors own 69.36% of the company’s stock.
Shares of Emerson Electric Co. (NYSE:EMR) traded up 0.12% during mid-day trading on Monday, reaching $51.15. The company had a trading volume of 1,259,920 shares. The company’s 50-day moving average is $53.74 and its 200 day moving average is $53.32. Emerson Electric Co. has a 52-week low of $41.25 and a 52-week high of $56.82. The stock has a market capitalization of $32.92 billion, a P/E ratio of 18.11 and a beta of 1.23.
Emerson Electric (NYSE:EMR) last issued its earnings results on Tuesday, August 2nd. The company reported $0.80 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.84 by $0.04. Emerson Electric had a net margin of 8.96% and a return on equity of 24.63%. The firm earned $5.10 billion during the quarter, compared to the consensus estimate of $5.34 billion. Analysts anticipate that Emerson Electric Co. will post $2.93 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 9th. Shareholders of record on Friday, August 12th were paid a $0.475 dividend. This represents a $1.90 annualized dividend and a yield of 3.72%. The ex-dividend date was Wednesday, August 10th. Emerson Electric’s payout ratio is presently 67.38%.
A number of research firms recently issued reports on EMR. Zacks Investment Research lowered Emerson Electric from a “hold” rating to a “sell” rating in a research note on Monday, July 18th. Wells Fargo & Co. reaffirmed a “hold” rating and issued a $52.00 target price on shares of Emerson Electric in a research note on Monday, July 18th. Barclays PLC reaffirmed an “equal weight” rating and issued a $55.00 target price (down previously from $56.00) on shares of Emerson Electric in a research note on Monday, July 18th. Buckingham Research lowered Emerson Electric from a “neutral” rating to an “underperform” rating and reduced their target price for the company from $49.00 to $44.00 in a research note on Friday, August 19th. Finally, Credit Suisse Group AG lowered Emerson Electric from an “outperform” rating to a “neutral” rating and set a $57.00 target price on the stock. in a research note on Friday, August 19th. They noted that the move was a valuation call. Five research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and four have issued a buy rating to the company’s stock. Emerson Electric currently has a consensus rating of “Hold” and a consensus target price of $52.82.
Emerson Electric Company Profile
Emerson Electric Co is engaged in offering technology and engineering together that provides solutions for customers in industrial, commercial, and consumer markets around the world. The company operates through five business segments: Process Management, Industrial Automation, Network Power, Climate Technologies, and Commercial & Residential Solutions.
Want to see what other hedge funds are holding EMR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Emerson Electric Co. (NYSE:EMR).
Receive News & Ratings for Emerson Electric Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Emerson Electric Co. and related companies with Analyst Ratings Network's FREE daily email newsletter.