Emerson Electric Co. (EMR) Holdings Lifted by Cornell Pochily Investment Advisors Inc.
Cornell Pochily Investment Advisors Inc. raised its stake in shares of Emerson Electric Co. (NYSE:EMR) by 241.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 31,077 shares of the industrial products company’s stock after purchasing an additional 21,984 shares during the quarter. Emerson Electric comprises 1.2% of Cornell Pochily Investment Advisors Inc.’s holdings, making the stock its 22nd biggest position. Cornell Pochily Investment Advisors Inc.’s holdings in Emerson Electric were worth $1,857,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors also recently modified their holdings of the company. Taylor Hoffman Wealth Management increased its stake in Emerson Electric by 6.7% during the 3rd quarter. Taylor Hoffman Wealth Management now owns 14,492 shares of the industrial products company’s stock valued at $1,110,000 after purchasing an additional 911 shares in the last quarter. Honkamp Krueger Financial Services Inc. increased its stake in shares of Emerson Electric by 64.2% in the third quarter. Honkamp Krueger Financial Services Inc. now owns 8,510 shares of the industrial products company’s stock worth $652,000 after acquiring an additional 3,327 shares during the period. Parsec Financial Management Inc. increased its stake in shares of Emerson Electric by 1.3% in the third quarter. Parsec Financial Management Inc. now owns 291,883 shares of the industrial products company’s stock worth $22,352,000 after acquiring an additional 3,787 shares during the period. Assenagon Asset Management S.A. acquired a new stake in shares of Emerson Electric in the third quarter worth $13,110,000. Finally, Oakbrook Investments LLC increased its stake in shares of Emerson Electric by 15.9% in the fourth quarter. Oakbrook Investments LLC now owns 49,490 shares of the industrial products company’s stock worth $2,957,000 after acquiring an additional 6,790 shares during the period. Institutional investors and hedge funds own 71.14% of the company’s stock.
A number of analysts have recently weighed in on the stock. Zacks Investment Research upgraded shares of Emerson Electric from a “sell” rating to a “hold” rating in a research note on Tuesday, January 8th. Credit Suisse Group increased their price objective on shares of Emerson Electric from $70.00 to $75.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 6th. Gordon Haskett lowered shares of Emerson Electric from a “buy” rating to a “hold” rating in a research note on Wednesday, December 12th. Berenberg Bank set a $67.00 price objective on shares of Emerson Electric and gave the stock a “hold” rating in a research note on Monday, November 19th. Finally, Stephens reiterated a “buy” rating and issued a $68.00 price objective on shares of Emerson Electric in a research note on Sunday, January 6th. Ten analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Emerson Electric presently has a consensus rating of “Buy” and a consensus target price of $76.28.
Emerson Electric (NYSE:EMR) last released its quarterly earnings results on Tuesday, February 5th. The industrial products company reported $0.74 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.66 by $0.08. The company had revenue of $4.15 billion for the quarter, compared to analyst estimates of $4.21 billion. Emerson Electric had a net margin of 12.83% and a return on equity of 24.21%. The firm’s revenue was up 8.7% on a year-over-year basis. During the same quarter last year, the business earned $0.61 earnings per share. Research analysts predict that Emerson Electric Co. will post 3.7 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, March 11th. Investors of record on Friday, February 15th will be given a dividend of $0.49 per share. The ex-dividend date is Thursday, February 14th. This represents a $1.96 annualized dividend and a yield of 2.87%. Emerson Electric’s dividend payout ratio is presently 57.99%.
In related news, insider Surendralal Lanca Karsanbhai sold 9,070 shares of the firm’s stock in a transaction on Wednesday, November 28th. The shares were sold at an average price of $68.00, for a total transaction of $616,760.00. Following the sale, the insider now owns 20,000 shares in the company, valued at $1,360,000. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 0.07% of the stock is currently owned by company insiders.
About Emerson Electric
Emerson Electric Co, a technology and engineering company, provides various solutions to industrial, commercial, and consumer markets worldwide. The company's Automation Solutions segment offers products and integrated solutions, including measurement and analytical instrumentation; valves, actuators, and regulators; industrial solutions; and process control systems and solutions.
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