Amalgamated Bank Has $4.35 Million Holdings in Emerson Electric Company (EMR)
Amalgamated Bank raised its holdings in Emerson Electric Company (NYSE:EMR) by 59.7% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 72,874 shares of the industrial products company’s stock after acquiring an additional 27,232 shares during the quarter. Amalgamated Bank’s holdings in Emerson Electric were worth $4,345,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also bought and sold shares of EMR. Captrust Financial Advisors acquired a new stake in shares of Emerson Electric in the second quarter worth $177,119,000. Vanguard Group Inc. lifted its stake in shares of 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 worth $2,615,777,000 after buying an additional 2,404,844 shares during the last quarter. Prudential Financial Inc. lifted its stake in shares of Emerson Electric by 135.9% in the first quarter. Prudential Financial Inc. now owns 2,963,124 shares of the industrial products company’s stock worth $177,372,000 after buying an additional 1,706,810 shares during the last quarter. Pictet Asset Management Ltd. lifted its stake in shares of Emerson Electric by 217.1% in the second quarter. Pictet Asset Management Ltd. now owns 2,460,762 shares of the industrial products company’s stock worth $145,480,000 after buying an additional 1,684,786 shares during the last quarter. Finally, BlackRock Inc. lifted its stake in shares of Emerson Electric by 1.9% in the second quarter. BlackRock Inc. now owns 40,954,867 shares of the industrial products company’s stock worth $2,441,728,000 after buying an additional 778,791 shares during the last quarter. Hedge funds and other institutional investors own 70.18% of the company’s stock.
Shares of Emerson Electric Company (NYSE:EMR) opened at $61.39 on Tuesday. The stock has a market cap of $39,431.61, a price-to-earnings ratio of 23.88, a price-to-earnings-growth ratio of 2.81 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 fifty-two week low of $53.92 and a fifty-two week high of $67.79.
Emerson Electric (NYSE:EMR) last announced its quarterly earnings results on Tuesday, November 7th. The industrial products company reported $0.83 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.83. The firm had revenue of $4.44 billion for 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 for the quarter was up 12.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.74 EPS. equities research analysts forecast that Emerson Electric Company will post 2.9 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, December 11th. Shareholders of record on Friday, November 17th will be issued a $0.485 dividend. This represents a $1.94 annualized dividend and a yield of 3.16%. 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 payout ratio is 81.70%.
In other Emerson Electric news, insider Robert T. Sharp sold 2,000 shares of the business’s stock in a transaction 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 sale, the insider now owns 64,290 shares of the company’s stock, valued at approximately $3,792,467.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.79% of the company’s stock.
A number of analysts have recently weighed in on EMR shares. Stifel Nicolaus restated a “buy” rating and issued a $68.00 price objective 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 restated a “sector perform” rating and issued a $62.00 price objective (up from $61.00) on shares of Emerson Electric in a research note on Wednesday, August 2nd. Berenberg Bank restated a “sell” rating and issued a $53.00 price objective on shares of Emerson Electric in a research note on Friday, August 11th. Finally, Morgan Stanley restated an “equal weight” rating and issued a $67.00 price objective (up from $64.00) on shares of Emerson Electric in a research note on Monday, October 2nd. Three equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and four have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $65.14.
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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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