Emerson Electric Company (EMR) Shares Bought by Norinchukin Bank The
Norinchukin Bank The increased its holdings in shares of Emerson Electric Company (NYSE:EMR) by 7.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 210,219 shares of the industrial products company’s stock after purchasing an additional 15,049 shares during the quarter. Norinchukin Bank The’s holdings in Emerson Electric were worth $13,210,000 at the end of the most recent reporting period.
Other large investors have also added to or reduced their stakes in the company. Tower Research Capital LLC TRC purchased a new stake in shares of Emerson Electric during the second quarter worth about $109,000. Intellectus Partners LLC grew its position in shares of Emerson Electric by 0.3% during the second quarter. Intellectus Partners LLC now owns 2,094 shares of the industrial products company’s stock worth $125,000 after purchasing an additional 7 shares in the last quarter. Mountain Capital Investment Advisors Inc purchased a new stake in shares of Emerson Electric during the second quarter worth about $129,000. AT Bancorp purchased a new stake in shares of Emerson Electric during the second quarter worth about $139,000. Finally, Harbour Capital Advisors LLC purchased a new stake in shares of Emerson Electric during the first quarter worth about $147,000. Hedge funds and other institutional investors own 69.16% of the company’s stock.
EMR has been the subject of several research analyst reports. Cowen upgraded Emerson Electric to a “buy” rating and set a $71.00 price target for the company in a report on Monday, October 23rd. Stifel Nicolaus restated a “buy” rating and set a $72.00 price target (up previously from $68.00) on shares of Emerson Electric in a report on Thursday, November 9th. Bank of America upgraded Emerson Electric from a “neutral” rating to a “buy” rating and raised their price target for the company from $64.44 to $79.00 in a report on Tuesday, October 17th. Morgan Stanley restated an “equal weight” rating and set a $67.00 price target (up previously from $64.00) on shares of Emerson Electric in a report on Monday, October 2nd. Finally, Robert W. Baird restated a “hold” rating and set a $70.00 price target on shares of Emerson Electric in a report on Friday, November 10th. Three analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have issued a buy rating to the stock. Emerson Electric has an average rating of “Hold” and an average price target of $65.86.
Emerson Electric (NYSE:EMR) last announced its earnings results on Tuesday, November 7th. The industrial products company reported $0.83 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.83. The firm had revenue of $4.44 billion during the quarter, compared to analysts’ expectations of $4.43 billion. Emerson Electric had a return on equity of 20.47% and a net margin of 9.94%. The company’s quarterly revenue was up 12.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.74 EPS. research analysts forecast that Emerson Electric Company will post 2.92 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Monday, December 11th. Stockholders of record on Friday, November 17th were issued a $0.485 dividend. This is a boost from Emerson Electric’s previous quarterly dividend of $0.48. The ex-dividend date was Thursday, November 16th. This represents a $1.94 dividend on an annualized basis and a dividend yield of 2.78%. Emerson Electric’s payout ratio is 82.55%.
In other news, VP Frank J. Dellaquila sold 2,100 shares of Emerson Electric stock in a transaction that occurred on Wednesday, December 6th. The stock was sold at an average price of $64.77, for a total value of $136,017.00. Following the completion of the transaction, the vice president now owns 178,743 shares in the company, valued at approximately $11,577,184.11. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Bell Katherine Button sold 7,518 shares of Emerson Electric stock in a transaction that occurred on Monday, December 11th. The stock was sold at an average price of $66.36, for a total value of $498,894.48. Following the completion of the transaction, the vice president now owns 36,877 shares of the company’s stock, valued at approximately $2,447,157.72. The disclosure for this sale can be found here. In the last quarter, insiders sold 27,017 shares of company stock valued at $1,771,129. Company insiders own 0.84% of the company’s stock.
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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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