Haverford Trust Co. Acquires 199,478 Shares of Emerson Electric Co. (EMR)
Haverford Trust Co. raised its holdings in shares of Emerson Electric Co. (NYSE:EMR) by 37.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 730,153 shares of the industrial products company’s stock after purchasing an additional 199,478 shares during the period. Haverford Trust Co.’s holdings in Emerson Electric were worth $49,994,000 as of its most recent SEC filing.
A number of other hedge funds have also added to or reduced their stakes in EMR. Middleton & Co Inc MA acquired a new stake in Emerson Electric in the 1st quarter valued at about $214,000. Harvey Investment Co. LLC acquired a new stake in Emerson Electric in the 1st quarter valued at about $368,000. Headinvest LLC lifted its holdings in Emerson Electric by 97.0% in the 4th quarter. Headinvest LLC now owns 155,257 shares of the industrial products company’s stock valued at $9,277,000 after acquiring an additional 76,427 shares during the last quarter. Piedmont Investment Advisors Inc. lifted its holdings in Emerson Electric by 7.0% in the 4th quarter. Piedmont Investment Advisors Inc. now owns 43,515 shares of the industrial products company’s stock valued at $2,600,000 after acquiring an additional 2,854 shares during the last quarter. Finally, Pioneer Trust Bank N A OR lifted its holdings in Emerson Electric by 5.3% in the 1st quarter. Pioneer Trust Bank N A OR now owns 7,579 shares of the industrial products company’s stock valued at $519,000 after acquiring an additional 379 shares during the last quarter. Hedge funds and other institutional investors own 70.51% of the company’s stock.
A number of equities research analysts have weighed in on the stock. Citigroup raised shares of Emerson Electric from a “neutral” rating to a “buy” rating and upped their price target for the company from $67.00 to $81.00 in a report on Monday, April 8th. Zacks Investment Research lowered shares of Emerson Electric from a “buy” rating to a “hold” rating in a research note on Tuesday, April 9th. Credit Suisse Group upped their price objective on shares of Emerson Electric from $70.00 to $75.00 and gave the company an “outperform” rating in a research note on Wednesday, February 6th. Morgan Stanley set a $77.00 price objective on shares of Emerson Electric and gave the company a “buy” rating in a research note on Friday, February 8th. Finally, Cowen reaffirmed a “buy” rating and set a $81.00 price objective on shares of Emerson Electric in a research note on Tuesday, February 5th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and eleven have given a buy rating to the company. Emerson Electric currently has a consensus rating of “Buy” and an average price target of $75.53.
Emerson Electric (NYSE:EMR) last issued its earnings results on Tuesday, May 7th. The industrial products company reported $0.84 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.84. The company had revenue of $4.57 billion for the quarter, compared to the consensus estimate of $4.64 billion. Emerson Electric had a return on equity of 24.63% and a net margin of 12.81%. The firm’s quarterly revenue was up 7.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.76 EPS. On average, sell-side analysts expect that Emerson Electric Co. will post 3.65 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Friday, May 17th will be issued a $0.49 dividend. The ex-dividend date is Thursday, May 16th. This represents a $1.96 dividend on an annualized basis and a yield of 3.25%. Emerson Electric’s dividend payout ratio is currently 57.99%.
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Emerson Electric Company Profile
Emerson Electric Co, a technology and engineering company, provides various solutions to industrial, commercial, and consumer markets worldwide. The company's Automation Solutions segment offers products and integrated solutions, including measurement and analytical instrumentation; valves, actuators, and regulators; industrial solutions; and process control systems and solutions.
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