Bridges Investment Counsel Inc. Buys 1,000 Shares of Emerson Electric Company (EMR)
Bridges Investment Counsel Inc. raised its position in shares of Emerson Electric Company (NYSE:EMR) by 6.8% during the second quarter, Holdings Channel reports. The fund owned 15,750 shares of the industrial products company’s stock after buying an additional 1,000 shares during the period. Bridges Investment Counsel Inc.’s holdings in Emerson Electric were worth $940,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in EMR. First Command Financial Services Inc. increased its position in Emerson Electric by 18.9% in the first quarter. First Command Financial Services Inc. now owns 1,935 shares of the industrial products company’s stock worth $116,000 after buying an additional 307 shares during the last quarter. Central Bank & Trust Co. increased its position in Emerson Electric by 31.3% in the first quarter. Central Bank & Trust Co. now owns 2,100 shares of the industrial products company’s stock worth $126,000 after buying an additional 500 shares during the last quarter. Oppenheimer Asset Management Inc. acquired a new position in Emerson Electric during the first quarter worth approximately $127,000. Harbour Capital Advisors LLC acquired a new position in Emerson Electric during the first quarter worth approximately $147,000. Finally, Guardian Life Insurance Co. of America increased its position in Emerson Electric by 1.1% in the first quarter. Guardian Life Insurance Co. of America now owns 2,491 shares of the industrial products company’s stock worth $149,000 after buying an additional 28 shares during the last quarter. Institutional investors and hedge funds own 69.42% of the company’s stock.
Emerson Electric Company (NYSE:EMR) traded down 0.132% during mid-day trading on Tuesday, reaching $59.551. The company’s stock had a trading volume of 614,153 shares. The stock has a market capitalization of $38.11 billion, a price-to-earnings ratio of 26.573 and a beta of 1.20. The firm has a 50-day moving average of $59.85 and a 200-day moving average of $59.84. Emerson Electric Company has a 52 week low of $49.22 and a 52 week high of $64.37.
Emerson Electric (NYSE:EMR) last issued its earnings results on Tuesday, August 1st. The industrial products company reported $0.68 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.68. Emerson Electric had a return on equity of 22.32% and a net margin of 8.89%. The company had revenue of $4.04 billion during the quarter, compared to the consensus estimate of $3.99 billion. During the same period in the previous year, the firm posted $0.68 earnings per share. Emerson Electric’s quarterly revenue was up 9.9% compared to the same quarter last year. On average, equities research analysts expect that Emerson Electric Company will post $2.61 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, September 11th. Shareholders of record on Friday, August 11th will be paid a $0.48 dividend. The ex-dividend date is Wednesday, August 9th. This represents a $1.92 dividend on an annualized basis and a yield of 3.22%. Emerson Electric’s payout ratio is currently 85.33%.
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A number of research firms have recently commented on EMR. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $62.00 price objective (up previously from $61.00) on shares of Emerson Electric in a report on Wednesday, August 2nd. Berenberg Bank reiterated a “sell” rating and issued a $53.00 price objective on shares of Emerson Electric in a report on Friday. Cowen and Company reiterated a “hold” rating and issued a $62.00 price objective on shares of Emerson Electric in a report on Tuesday, April 25th. BidaskClub downgraded Emerson Electric from a “hold” rating to a “sell” rating in a report on Friday, July 28th. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $68.00 price objective on shares of Emerson Electric in a report on Wednesday, July 19th. Three analysts have rated the stock with a sell rating, fourteen have issued a hold rating and three have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average 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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