Emerson Electric Company (EMR) Shares Bought by Zacks Investment Management
Zacks Investment Management boosted its position in Emerson Electric Company (NYSE:EMR) by 2.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 315,429 shares of the industrial products company’s stock after acquiring an additional 7,518 shares during the quarter. Zacks Investment Management’s holdings in Emerson Electric were worth $18,806,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also recently modified their holdings of the company. Fagan Associates Inc. lifted its stake in shares of Emerson Electric by 19.3% during the second quarter. Fagan Associates Inc. now owns 5,975 shares of the industrial products company’s stock worth $356,000 after purchasing an additional 968 shares in the last quarter. Pinnacle Wealth Management Advisory Group LLC lifted its stake in shares of Emerson Electric by 6.6% during the second quarter. Pinnacle Wealth Management Advisory Group LLC now owns 10,075 shares of the industrial products company’s stock worth $601,000 after purchasing an additional 620 shares in the last quarter. Andra AP fonden lifted its stake in shares of Emerson Electric by 5.2% during the second quarter. Andra AP fonden now owns 95,300 shares of the industrial products company’s stock worth $5,682,000 after purchasing an additional 4,700 shares in the last quarter. Lipe & Dalton lifted its stake in shares of Emerson Electric by 1.3% during the second quarter. Lipe & Dalton now owns 42,125 shares of the industrial products company’s stock worth $2,511,000 after purchasing an additional 560 shares in the last quarter. Finally, Vanguard Group Inc. lifted its stake in shares of Emerson Electric by 5.8% during the first quarter. Vanguard Group Inc. now owns 43,698,252 shares of the industrial products company’s stock worth $2,615,777,000 after purchasing an additional 2,404,844 shares in the last quarter. Hedge funds and other institutional investors own 69.35% of the company’s stock.
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EMR has been the topic of a number of analyst reports. Cowen and Company raised Emerson Electric from a “market perform” rating to an “outperform” rating in a research report on Tuesday, October 17th. Zacks Investment Research lowered Emerson Electric from a “hold” rating to a “sell” rating in a research report on Tuesday, October 17th. Robert W. Baird reissued a “hold” rating and issued a $70.00 price objective on shares of Emerson Electric in a report on Friday, November 10th. Royal Bank Of Canada reissued a “sector perform” rating and issued a $62.00 price objective (up from $61.00) on shares of Emerson Electric in a report on Wednesday, August 2nd. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $72.00 price objective (up from $68.00) on shares of Emerson Electric in a report on Thursday, November 9th. Three equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and three have assigned a buy rating to the stock. Emerson Electric presently has an average rating of “Hold” and a consensus target price of $65.14.
Shares of Emerson Electric Company (NYSE:EMR) opened at $60.26 on Tuesday. The firm has a market capitalization of $38,570.00, a P/E ratio of 23.20, a price-to-earnings-growth ratio of 2.73 and a beta of 1.24. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.64 and a quick ratio of 1.30. Emerson Electric Company has a 52-week low of $53.92 and a 52-week high of $67.79.
Emerson Electric (NYSE:EMR) last released its earnings results on Tuesday, November 7th. The industrial products company reported $0.83 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.83. The firm had revenue of $4.44 billion during the quarter, compared to the consensus estimate of $4.43 billion. Emerson Electric had a return on equity of 20.47% and a net margin of 9.94%. The firm’s revenue for the quarter was up 12.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.74 earnings per share. equities analysts predict that Emerson Electric Company will post 2.91 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, December 11th. Shareholders of record on Friday, November 17th will be issued a $0.485 dividend. The ex-dividend date is Thursday, November 16th. This represents a $1.94 annualized dividend and a dividend yield of 3.22%. This is a boost from Emerson Electric’s previous quarterly dividend of $0.48. Emerson Electric’s dividend payout ratio is currently 75.78%.
In other Emerson Electric news, insider Robert T. Sharp sold 2,000 shares of the company’s stock in a transaction on Thursday, August 31st. The stock was sold at an average price of $58.99, for a total value of $117,980.00. Following the transaction, the insider now owns 64,290 shares of the company’s stock, valued at $3,792,467.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.79% of the stock is currently owned by corporate insiders.
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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