Ballentine Partners LLC acquired a new stake in Emerson Electric Company (NYSE:EMR) during the first quarter, Holdings Channel reports. The fund acquired 5,922 shares of the industrial products company’s stock, valued at approximately $354,000.

Other institutional investors have also recently made changes to their positions in the company. Jacobi Capital Management LLC raised its stake in shares of Emerson Electric by 139.5% in the first quarter. Jacobi Capital Management LLC now owns 4,022 shares of the industrial products company’s stock valued at $240,000 after buying an additional 2,343 shares in the last quarter. Boston Common Asset Management LLC raised its stake in shares of Emerson Electric by 25.5% in the first quarter. Boston Common Asset Management LLC now owns 34,907 shares of the industrial products company’s stock valued at $2,090,000 after buying an additional 7,092 shares in the last quarter. Achmea Investment Management B.V. bought a new stake in shares of Emerson Electric during the first quarter valued at $4,219,000. Community Trust & Investment Co. raised its stake in shares of Emerson Electric by 0.5% in the first quarter. Community Trust & Investment Co. now owns 14,275 shares of the industrial products company’s stock valued at $855,000 after buying an additional 75 shares in the last quarter. Finally, Community Financial Services Group LLC raised its stake in shares of Emerson Electric by 4.2% in the first quarter. Community Financial Services Group LLC now owns 96,470 shares of the industrial products company’s stock valued at $5,775,000 after buying an additional 3,890 shares in the last quarter. Hedge funds and other institutional investors own 69.42% of the company’s stock.

Shares of Emerson Electric Company (NYSE:EMR) traded up 0.4188% on Wednesday, reaching $59.6588. The company had a trading volume of 550,805 shares. Emerson Electric Company has a one year low of $49.22 and a one year high of $64.37. The firm has a market cap of $38.18 billion, a P/E ratio of 26.6215 and a beta of 1.20. The company has a 50-day moving average price of $59.86 and a 200-day moving average price of $59.83.

Emerson Electric (NYSE:EMR) last issued its quarterly earnings data on Tuesday, August 1st. The industrial products company reported $0.68 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.68. Emerson Electric had a return on equity of 22.32% and a net margin of 8.89%. The firm had revenue of $4.04 billion during the quarter, compared to the consensus estimate of $3.99 billion. During the same quarter in the previous year, the company posted $0.68 EPS. The business’s revenue for the quarter was up 9.9% compared to the same quarter last year. On average, analysts expect that Emerson Electric Company will post $2.61 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 11th. Shareholders of record on Friday, August 11th will be given a $0.48 dividend. The ex-dividend date of this dividend is Wednesday, August 9th. This represents a $1.92 annualized dividend and a yield of 3.23%. Emerson Electric’s payout ratio is 85.33%.

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Several equities research analysts have weighed in on the company. Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $62.00 target price (up from $61.00) on shares of Emerson Electric in a research report on Wednesday, August 2nd. Berenberg Bank reaffirmed a “sell” rating and issued a $53.00 target price on shares of Emerson Electric in a research report on Friday, August 11th. Cowen and Company reaffirmed a “hold” rating and issued a $62.00 target price on shares of Emerson Electric in a research report on Tuesday, April 25th. BidaskClub lowered Emerson Electric from a “hold” rating to a “sell” rating in a research report on Friday, July 28th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and issued a $68.00 target price on shares of Emerson Electric in a research report on Wednesday, July 19th. Three research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and three have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $58.14.

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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Institutional Ownership by Quarter for Emerson Electric (NYSE:EMR)

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