Beacon Financial Group Has $7.17 Million Position in Emerson Electric Company (EMR)
Beacon Financial Group boosted its stake in shares of Emerson Electric Company (NYSE:EMR) by 2.4% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 122,756 shares of the industrial products company’s stock after purchasing an additional 2,874 shares during the quarter. Beacon Financial Group’s holdings in Emerson Electric were worth $7,167,000 at the end of the most recent reporting period.
A number of other large investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in Emerson Electric by 5.8% during the 1st quarter. Vanguard Group Inc. now owns 43,698,252 shares of the industrial products company’s stock valued at $2,615,777,000 after purchasing an additional 2,404,844 shares during the period. Bank of New York Mellon Corp boosted its position in Emerson Electric by 2.3% during the 1st quarter. Bank of New York Mellon Corp now owns 14,552,526 shares of the industrial products company’s stock valued at $871,114,000 after purchasing an additional 332,238 shares during the period. American International Group Inc. boosted its position in Emerson Electric by 0.6% during the 1st quarter. American International Group Inc. now owns 9,041,764 shares of the industrial products company’s stock valued at $541,240,000 after purchasing an additional 53,444 shares during the period. American Century Companies Inc. boosted its position in Emerson Electric by 19.4% during the 1st quarter. American Century Companies Inc. now owns 4,338,862 shares of the industrial products company’s stock valued at $259,724,000 after purchasing an additional 705,924 shares during the period. Finally, Legal & General Group Plc boosted its position in Emerson Electric by 5.5% during the 1st quarter. Legal & General Group Plc now owns 3,358,845 shares of the industrial products company’s stock valued at $201,055,000 after purchasing an additional 174,816 shares during the period. Institutional investors and hedge funds own 70.19% of the company’s stock.
In other Emerson Electric news, insider Robert T. Sharp sold 2,000 shares of the stock in a transaction 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 in the company, valued at approximately $3,792,467.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.79% of the stock is currently owned by company insiders.
Shares of Emerson Electric Company (NYSE:EMR) traded up 0.74% during mid-day trading on Friday, hitting $62.35. The stock had a trading volume of 4,441,677 shares. The stock has a market cap of $39.91 billion, a price-to-earnings ratio of 27.82 and a beta of 1.18. Emerson Electric Company has a 12-month low of $49.22 and a 12-month high of $64.36. The firm’s 50-day moving average price is $59.65 and its 200 day moving average price is $59.54.
Emerson Electric (NYSE:EMR) last announced its quarterly earnings data on Tuesday, August 1st. The industrial products company reported $0.68 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.68. The firm had revenue of $4.04 billion for the quarter, compared to analyst estimates of $3.99 billion. Emerson Electric had a return on equity of 22.32% and a net margin of 8.89%. The business’s quarterly revenue was up 9.9% compared to the same quarter last year. During the same period last year, the company earned $0.68 EPS. Equities analysts forecast that Emerson Electric Company will post $2.61 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, September 11th. Shareholders of record on Friday, August 11th were given a $0.48 dividend. The ex-dividend date was Wednesday, August 9th. This represents a $1.92 dividend on an annualized basis and a yield of 3.08%. Emerson Electric’s payout ratio is 85.33%.
A number of research analysts have issued reports on EMR shares. BidaskClub lowered Emerson Electric from a “sell” rating to a “strong sell” rating in a research report on Friday, August 18th. Berenberg Bank reiterated a “sell” rating and set a $53.00 price target on shares of Emerson Electric in a research report on Friday, August 11th. Royal Bank Of Canada reiterated a “sector perform” rating and set a $62.00 price target (up previously from $61.00) on shares of Emerson Electric in a research report on Wednesday, August 2nd. Stifel Nicolaus reiterated a “buy” rating and set a $68.00 price target on shares of Emerson Electric in a research report on Wednesday, July 19th. Finally, Morgan Stanley reiterated an “overweight” rating on shares of Emerson Electric in a research report on Tuesday, July 11th. Three analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have issued a buy rating to the company’s stock. Emerson Electric currently has a consensus rating of “Hold” and an average price target of $60.52.
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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