Emerson Electric Company (EMR) Shares Bought by Meridian Wealth Management LLC
Meridian Wealth Management LLC boosted its stake in shares of Emerson Electric Company (NYSE:EMR) by 15.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,007 shares of the industrial products company’s stock after buying an additional 666 shares during the period. Meridian Wealth Management LLC’s holdings in Emerson Electric were worth $299,000 at the end of the most recent quarter.
Several other institutional investors have also recently made changes to their positions in EMR. Benedict Financial Advisors Inc. raised its position in shares of 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 valued at $2,804,000 after buying an additional 262 shares during the period. Pinnacle Financial Partners Inc. raised its position in shares of 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 valued at $3,698,000 after buying an additional 5,844 shares during the period. Princeton Alpha Management LP purchased a new position in shares of Emerson Electric during the first quarter valued at about $461,000. Central Bank & Trust Co. raised its position in shares of 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 valued at $126,000 after buying an additional 500 shares during the period. Finally, British Columbia Investment Management Corp raised its position in shares of Emerson Electric by 16.1% in the first quarter. British Columbia Investment Management Corp now owns 263,362 shares of the industrial products company’s stock valued at $15,765,000 after buying an additional 36,566 shares during the period. 70.17% of the stock is owned by institutional investors.
Shares of Emerson Electric Company (NYSE:EMR) traded up 0.60% during trading on Thursday, reaching $58.98. 776,443 shares of the company were exchanged. Emerson Electric Company has a 52-week low of $49.22 and a 52-week high of $64.36. The stock’s 50-day moving average is $59.67 and its 200-day moving average is $59.78. The firm has a market cap of $37.75 billion, a price-to-earnings ratio of 26.32 and a beta of 1.20.
Emerson Electric (NYSE:EMR) last issued 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. The firm had revenue of $4.04 billion during the quarter, compared to analysts’ expectations of $3.99 billion. Emerson Electric had a net margin of 8.89% and a return on equity of 22.32%. The business’s revenue was up 9.9% on a year-over-year basis. During the same period last year, the company earned $0.68 earnings per share. Equities research analysts predict that Emerson Electric Company will post $2.61 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 11th. Stockholders of record on Friday, August 11th will be issued a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 3.27%. The ex-dividend date is Wednesday, August 9th. Emerson Electric’s dividend payout ratio is currently 85.33%.
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EMR has been the subject of several research analyst reports. Zacks Investment Research lowered shares of Emerson Electric from a “buy” rating to a “hold” rating in a report on Friday, May 5th. BidaskClub raised shares of Emerson Electric from a “sell” rating to a “hold” rating in a report on Friday, June 16th. JMP Securities initiated coverage on shares of Emerson Electric in a report on Monday, June 19th. They issued an “outperform” rating and a $70.00 price target for the company. Royal Bank Of Canada reissued a “sector perform” rating and issued a $62.00 price target (up previously from $61.00) on shares of Emerson Electric in a report on Wednesday, August 2nd. Finally, Berenberg Bank reissued a “sell” rating and issued a $53.00 price target on shares of Emerson Electric in a report on Friday, August 11th. Three investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and three have given a buy rating to the stock. Emerson Electric has an average rating of “Hold” and an average price target of $60.52.
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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