Emerson Electric Company (EMR) Position Lowered by Boston Financial Mangement LLC
Boston Financial Mangement LLC reduced its position in shares of Emerson Electric Company (NYSE:EMR) by 4.3% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 111,028 shares of the industrial products company’s stock after selling 4,975 shares during the period. Boston Financial Mangement LLC’s holdings in Emerson Electric were worth $6,646,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently added to or reduced their stakes in the stock. Royce & Associates LP boosted its stake in Emerson Electric by 102.8% in the first quarter. Royce & Associates LP now owns 43,600 shares of the industrial products company’s stock worth $2,610,000 after buying an additional 22,100 shares in the last quarter. Bridgewater Associates LP purchased a new position in Emerson Electric during the first quarter worth about $351,000. TIAA CREF Investment Management LLC boosted its position in Emerson Electric by 18.4% in the first quarter. TIAA CREF Investment Management LLC now owns 1,299,564 shares of the industrial products company’s stock worth $77,792,000 after buying an additional 201,677 shares during the period. Teachers Advisors LLC boosted its position in Emerson Electric by 13.4% in the first quarter. Teachers Advisors LLC now owns 899,255 shares of the industrial products company’s stock worth $53,829,000 after buying an additional 106,180 shares during the period. Finally, Homrich & Berg purchased a new position in Emerson Electric during the first quarter worth about $244,000. Institutional investors and hedge funds own 70.17% of the company’s stock.
Emerson Electric Company (NYSE:EMR) traded up 0.44% during trading on Thursday, hitting $58.89. 596,110 shares of the stock were exchanged. Emerson Electric Company has a 52 week low of $49.22 and a 52 week high of $64.36. The firm has a market cap of $37.69 billion, a PE ratio of 26.28 and a beta of 1.20. The firm’s 50-day moving average is $59.67 and its 200 day moving average is $59.78.
Emerson Electric (NYSE:EMR) last released its quarterly earnings data on Tuesday, August 1st. The industrial products company reported $0.68 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.68. The business had revenue of $4.04 billion during the quarter, compared to analyst estimates of $3.99 billion. Emerson Electric had a net margin of 8.89% and a return on equity of 22.32%. Emerson Electric’s revenue was up 9.9% compared to the same quarter last year. During the same period last year, the business earned $0.68 EPS. Analysts expect that Emerson Electric Company will post $2.61 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 11th. Shareholders of record on Friday, August 11th will be paid a dividend of $0.48 per share. The ex-dividend date of this dividend is Wednesday, August 9th. This represents a $1.92 dividend on an annualized basis and a yield of 3.27%. Emerson Electric’s dividend payout ratio is currently 85.33%.
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A number of research firms have issued reports on EMR. BidaskClub cut Emerson Electric from a “sell” rating to a “strong sell” rating in a report on Friday, August 18th. Stifel Nicolaus reiterated a “buy” rating and set a $67.00 target price (up previously from $65.00) on shares of Emerson Electric in a report on Monday, May 15th. Royal Bank Of Canada reiterated a “hold” rating and set a $62.00 target price on shares of Emerson Electric in a report on Tuesday, June 6th. TheStreet upgraded Emerson Electric from a “c+” rating to a “b” rating in a report on Thursday, May 4th. Finally, Morgan Stanley reiterated an “overweight” rating on shares of Emerson Electric in a report on Tuesday, July 11th. Three investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and three have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $60.52.
Emerson Electric Company Profile
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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