Bank of Nova Scotia raised its position in shares of Emerson Electric Company (NYSE:EMR) by 3,745.5% during the first quarter, Holdings Channel reports. The firm owned 561,400 shares of the industrial products company’s stock after buying an additional 546,801 shares during the period. Bank of Nova Scotia’s holdings in Emerson Electric were worth $33,771,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of EMR. Somerset Trust Co boosted its stake in Emerson Electric by 2.2% in the first quarter. Somerset Trust Co now owns 21,828 shares of the industrial products company’s stock worth $1,306,000 after buying an additional 474 shares during the period. Benedict Financial Advisors Inc. boosted its stake in Emerson Electric by 0.6% in the first quarter. Benedict Financial Advisors Inc. now owns 46,836 shares of the industrial products company’s stock worth $2,804,000 after buying an additional 262 shares during the period. Viking Fund Management LLC boosted its stake in Emerson Electric by 50.0% in the first quarter. Viking Fund Management LLC now owns 51,000 shares of the industrial products company’s stock worth $3,053,000 after buying an additional 17,000 shares during the period. Princeton Alpha Management LP acquired a new stake in Emerson Electric during the first quarter worth $461,000. Finally, Pinnacle Financial Partners Inc. boosted its stake in Emerson Electric by 10.4% in the first quarter. Pinnacle Financial Partners Inc. now owns 61,784 shares of the industrial products company’s stock worth $3,698,000 after buying an additional 5,844 shares during the period. Institutional investors and hedge funds own 69.42% of the company’s stock.

Emerson Electric Company (EMR) traded down 0.35% during mid-day trading on Tuesday, hitting $59.42. The stock had a trading volume of 289,298 shares. The company’s 50 day moving average is $59.85 and its 200-day moving average is $59.84. The stock has a market capitalization of $38.03 billion, a P/E ratio of 26.51 and a beta of 1.20. Emerson Electric Company has a 52 week low of $49.22 and a 52 week high of $64.36.

Emerson Electric (NYSE:EMR) last released its quarterly earnings data on Tuesday, August 1st. The industrial products company reported $0.68 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $3.99 billion. During the same period in the previous year, the company posted $0.68 EPS. The firm’s revenue for the quarter was up 9.9% compared to the same quarter last year. On average, analysts expect that Emerson Electric Company will post $2.61 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 11th. Investors 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 dividend yield of 3.22%. Emerson Electric’s payout ratio is 85.33%.

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A number of equities research analysts recently weighed in on EMR shares. Zacks Investment Research cut Emerson Electric from a “buy” rating to a “hold” rating in a research note on Friday, May 5th. BidaskClub upgraded Emerson Electric from a “sell” rating to a “hold” rating in a research note on Friday, June 16th. JMP Securities started coverage on Emerson Electric in a research note on Monday, June 19th. They issued an “outperform” rating and a $70.00 price target on the stock. Royal Bank Of Canada restated a “sector perform” rating and issued a $62.00 price target (up previously from $61.00) on shares of Emerson Electric in a research note on Wednesday, August 2nd. Finally, Cowen and Company restated a “hold” rating and issued a $62.00 price target on shares of Emerson Electric in a research note on Tuesday, April 25th. Three research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and three have given a buy rating to the stock. Emerson Electric currently has an average rating of “Hold” and a consensus price target of $58.14.

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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Institutional Ownership by Quarter for Emerson Electric (NYSE:EMR)

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