Balyasny Asset Management LLC Has $1.66 Million Position in Emerson Electric Company (EMR)
Balyasny Asset Management LLC boosted its position in Emerson Electric Company (NYSE:EMR) by 15.7% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 27,843 shares of the industrial products company’s stock after purchasing an additional 3,784 shares during the quarter. Balyasny Asset Management LLC’s holdings in Emerson Electric were worth $1,660,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds have also recently made changes to their positions in the stock. Oppenheimer Asset Management Inc. purchased a new stake in Emerson Electric in the 1st quarter valued at about $127,000. AT Bancorp purchased a new stake in Emerson Electric in the 2nd quarter valued at about $139,000. Harbour Capital Advisors LLC purchased a new stake in Emerson Electric in the 1st quarter valued at about $147,000. Guardian Life Insurance Co. of America grew its holdings in Emerson Electric by 1.1% in the 1st quarter. Guardian Life Insurance Co. of America now owns 2,491 shares of the industrial products company’s stock valued at $149,000 after buying an additional 28 shares during the period. Finally, Perkins Coie Trust Co purchased a new stake in Emerson Electric in the 2nd quarter valued at about $150,000. 69.35% of the stock is owned by hedge funds and other institutional investors.
Emerson Electric Company (NYSE EMR) opened at $61.88 on Thursday. The company has a market capitalization of $38,733.82, a P/E ratio of 23.39, a P/E/G ratio of 2.84 and a beta of 1.24. The company has a current ratio of 1.64, a quick ratio of 1.30 and a debt-to-equity ratio of 0.43. Emerson Electric Company has a 52-week low of $53.92 and a 52-week high of $67.79.
Emerson Electric (NYSE:EMR) last released its quarterly earnings results on Tuesday, November 7th. The industrial products company reported $0.83 EPS for the quarter, hitting the 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 return on equity of 20.47% and a net margin of 9.94%. Emerson Electric’s revenue for the quarter was up 12.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.74 EPS. analysts predict that Emerson Electric Company will post 2.91 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, December 11th. Investors of record on Friday, November 17th will be given a dividend of $0.485 per share. The ex-dividend date is Thursday, November 16th. This is a positive change from Emerson Electric’s previous quarterly dividend of $0.48. This represents a $1.94 annualized dividend and a yield of 3.14%. Emerson Electric’s payout ratio is 82.55%.
Several analysts have commented on EMR shares. Edward Jones cut Emerson Electric from a “buy” rating to a “hold” rating in a report on Friday, November 17th. Wells Fargo & Company restated a “market perform” rating and issued a $65.00 price target (up previously from $60.00) on shares of Emerson Electric in a report on Wednesday, November 8th. Stifel Nicolaus restated a “buy” rating on shares of Emerson Electric in a report on Thursday, October 12th. Bank of America Corporation upgraded Emerson Electric from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $64.44 to $79.00 in a report on Tuesday, October 17th. Finally, Zacks Investment Research cut Emerson Electric from a “hold” rating to a “sell” rating in a report on Tuesday, October 17th. Three equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and three have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $65.14.
In other Emerson Electric news, insider Robert T. Sharp sold 2,000 shares of the company’s stock in a transaction that occurred 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 transaction, the insider now directly owns 64,290 shares of the company’s stock, valued at approximately $3,792,467.10. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.79% of the company’s stock.
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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