Chartwell Investment Partners LLC Has $11.41 Million Stake in Emerson Electric Co. (EMR)
Chartwell Investment Partners LLC lifted its stake in Emerson Electric Co. (NYSE:EMR) by 124.1% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 164,961 shares of the industrial products company’s stock after acquiring an additional 91,365 shares during the period. Chartwell Investment Partners LLC’s holdings in Emerson Electric were worth $11,405,000 at the end of the most recent reporting period.
Other institutional investors also recently bought and sold shares of the company. Pettyjohn Wood & White Inc. boosted its stake in Emerson Electric by 22.2% during the first quarter. Pettyjohn Wood & White Inc. now owns 3,854 shares of the industrial products company’s stock valued at $263,000 after buying an additional 700 shares during the period. Cypress Capital Group boosted its stake in Emerson Electric by 3.1% during the first quarter. Cypress Capital Group now owns 23,601 shares of the industrial products company’s stock valued at $1,612,000 after buying an additional 715 shares during the period. Courier Capital LLC boosted its stake in Emerson Electric by 3.3% during the second quarter. Courier Capital LLC now owns 22,555 shares of the industrial products company’s stock valued at $1,559,000 after buying an additional 718 shares during the period. Fagan Associates Inc. boosted its stake in Emerson Electric by 9.7% during the first quarter. Fagan Associates Inc. now owns 8,200 shares of the industrial products company’s stock valued at $560,000 after buying an additional 725 shares during the period. Finally, Orca Investment Management LLC boosted its stake in Emerson Electric by 15.3% during the second quarter. Orca Investment Management LLC now owns 5,502 shares of the industrial products company’s stock valued at $380,000 after buying an additional 732 shares during the period. 70.90% of the stock is owned by hedge funds and other institutional investors.
EMR has been the subject of several research analyst reports. Argus lifted their price objective on Emerson Electric from $81.00 to $83.00 and gave the company a “buy” rating in a research note on Tuesday, August 14th. Zacks Investment Research lowered Emerson Electric from a “buy” rating to a “hold” rating in a research note on Friday, August 3rd. Morgan Stanley initiated coverage on Emerson Electric in a research note on Monday, August 20th. They set an “overweight” rating and a $85.00 price objective for the company. ValuEngine raised Emerson Electric from a “hold” rating to a “buy” rating in a research note on Monday, July 2nd. Finally, JPMorgan Chase & Co. lifted their price objective on Emerson Electric from $79.00 to $82.00 and gave the company an “overweight” rating in a research note on Friday, August 10th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $76.39.
Emerson Electric (NYSE:EMR) last issued its quarterly earnings results on Tuesday, August 7th. The industrial products company reported $0.88 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.86 by $0.02. Emerson Electric had a return on equity of 22.83% and a net margin of 12.33%. The firm had revenue of $4.46 billion during the quarter, compared to analyst estimates of $4.47 billion. During the same quarter in the previous year, the company posted $0.68 earnings per share. The company’s revenue was up 10.3% compared to the same quarter last year. equities research analysts anticipate that Emerson Electric Co. will post 3.19 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, September 10th. Shareholders of record on Friday, August 17th will be paid a dividend of $0.485 per share. This represents a $1.94 annualized dividend and a yield of 2.56%. The ex-dividend date is Thursday, August 16th. Emerson Electric’s dividend payout ratio (DPR) is currently 73.48%.
In other Emerson Electric news, insider Michael H. Train sold 24,166 shares of Emerson Electric stock in a transaction dated Monday, June 18th. The stock was sold at an average price of $71.46, for a total transaction of $1,726,902.36. Following the completion of the sale, the insider now owns 121,626 shares of the company’s stock, valued at $8,691,393.96. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Steven J. Pelch sold 6,409 shares of Emerson Electric stock in a transaction dated Tuesday, August 14th. The stock was sold at an average price of $74.24, for a total value of $475,804.16. The disclosure for this sale can be found here. Insiders own 0.79% of the company’s stock.
Emerson Electric Profile
Emerson Electric Co, a technology and engineering company, provides various solutions to industrial, commercial, and residential markets worldwide. The company's Automation Solutions segment offers software; measurement and analytical instrumentation; valves, actuators, and regulators; industry services and solutions; process control systems and solutions; and digital plant solutions.
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