FUKOKU MUTUAL LIFE INSURANCE Co Holds Position in Emerson Electric Company (EMR)
FUKOKU MUTUAL LIFE INSURANCE Co maintained its stake in shares of Emerson Electric Company (NYSE:EMR) during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,300 shares of the industrial products company’s stock at the end of the second quarter. FUKOKU MUTUAL LIFE INSURANCE Co’s holdings in Emerson Electric were worth $137,000 at the end of the most recent quarter.
Several other institutional investors also recently modified their holdings of EMR. Captrust Financial Advisors acquired a new position in shares of Emerson Electric during the 2nd quarter worth approximately $177,119,000. Vanguard Group Inc. boosted its holdings in shares of Emerson Electric by 5.8% during the 1st 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 during the last quarter. Prudential Financial Inc. boosted its holdings in shares of Emerson Electric by 135.9% during the 1st quarter. Prudential Financial Inc. now owns 2,963,124 shares of the industrial products company’s stock worth $177,372,000 after purchasing an additional 1,706,810 shares during the last quarter. Pictet Asset Management Ltd. boosted its holdings in shares of Emerson Electric by 217.1% during the 2nd quarter. Pictet Asset Management Ltd. now owns 2,460,762 shares of the industrial products company’s stock worth $145,480,000 after purchasing an additional 1,684,786 shares during the last quarter. Finally, BlackRock Inc. boosted its holdings in shares of Emerson Electric by 1.9% during the 2nd quarter. BlackRock Inc. now owns 40,954,867 shares of the industrial products company’s stock worth $2,441,728,000 after purchasing an additional 778,791 shares during the last quarter. Institutional investors and hedge funds own 69.35% of the company’s stock.
Several research analysts have recently weighed in on EMR shares. Cowen Inc upgraded Emerson Electric to a “buy” rating and set a $71.00 target price on the stock in a report on Monday, October 23rd. Bank of America Corporation upgraded Emerson Electric from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $64.44 to $79.00 in a report on Tuesday, October 17th. Stifel Nicolaus restated a “buy” rating on shares of Emerson Electric in a report on Thursday, October 12th. Morgan Stanley reiterated an “equal weight” rating and issued a $67.00 price objective (up from $64.00) on shares of Emerson Electric in a report on Monday, October 2nd. Finally, Zacks Investment Research upgraded Emerson Electric from a “sell” rating to a “hold” rating in a report on Tuesday, October 31st. Three research analysts have rated the stock with a sell rating, thirteen have given a hold rating and three have issued a buy rating to the stock. Emerson Electric has a consensus rating of “Hold” and an average target price of $65.14.
Emerson Electric Company (NYSE EMR) opened at $61.63 on Friday. Emerson Electric Company has a twelve month low of $53.92 and a twelve month high of $67.79. The company has a market capitalization of $39,715.81, a P/E ratio of 23.98, a P/E/G ratio of 2.92 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 (NYSE:EMR) last announced its earnings results on Tuesday, November 7th. The industrial products company reported $0.83 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.83. The company had revenue of $4.44 billion for the quarter, compared to analyst estimates of $4.43 billion. Emerson Electric had a return on equity of 20.47% and a net margin of 9.94%. The firm’s quarterly revenue was up 12.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.74 earnings per share. equities analysts anticipate that Emerson Electric Company will post 2.91 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, December 11th. Shareholders of record on Friday, November 17th will be given a $0.485 dividend. This is a positive change from Emerson Electric’s previous quarterly dividend of $0.48. The ex-dividend date is Thursday, November 16th. This represents a $1.94 dividend on an annualized basis and a yield of 3.15%. Emerson Electric’s payout ratio is presently 82.55%.
In other Emerson Electric news, insider Robert T. Sharp sold 2,000 shares of the business’s stock in a transaction that occurred 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 sale, the insider now owns 64,290 shares of the company’s stock, valued at $3,792,467.10. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.79% of the stock is owned by insiders.
Emerson Electric 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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