Logan Capital Management Inc. Raises Stake in Emerson Electric Company (NYSE:EMR)
Logan Capital Management Inc. boosted its position in Emerson Electric Company (NYSE:EMR) by 14.3% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 8,964 shares of the industrial products company’s stock after buying an additional 1,123 shares during the period. Logan Capital Management Inc.’s holdings in Emerson Electric were worth $537,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently added to or reduced their stakes in the company. First Command Financial Services Inc. boosted its position in Emerson Electric by 18.9% in the first quarter. First Command Financial Services Inc. now owns 1,935 shares of the industrial products company’s stock worth $116,000 after buying an additional 307 shares during the period. Central Bank & Trust Co. boosted its position in 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 worth $126,000 after buying an additional 500 shares during the period. Guardian Life Insurance Co. of America boosted its position in Emerson Electric by 1.1% in the first quarter. Guardian Life Insurance Co. of America now owns 2,491 shares of the industrial products company’s stock worth $149,000 after buying an additional 28 shares during the period. Milestone Group Inc. purchased a new position in Emerson Electric during the first quarter worth about $201,000. Finally, Wedgewood Investors Inc. PA purchased a new position in Emerson Electric during the first quarter worth about $204,000. Hedge funds and other institutional investors own 69.06% of the company’s stock.
Emerson Electric Company (EMR) traded down 0.48% during trading on Thursday, reaching $59.74. The company had a trading volume of 365,124 shares. The company has a 50-day moving average price of $59.82 and a 200 day moving average price of $59.84. The company has a market capitalization of $38.23 billion, a price-to-earnings ratio of 26.66 and a beta of 1.20. Emerson Electric Company has a one year low of $49.22 and a one year high of $64.36.
Emerson Electric (NYSE:EMR) last posted its earnings results on Tuesday, August 1st. The industrial products company reported $0.68 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.68. Emerson Electric had a net margin of 8.89% and a return on equity of 22.32%. The company had revenue of $4.04 billion for the quarter, compared to analyst estimates of $3.99 billion. During the same quarter in the prior year, the business posted $0.68 EPS. The firm’s revenue was up 9.9% compared to the same quarter last year. Analysts expect that Emerson Electric Company will post $2.61 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 11th. Shareholders of record on Friday, August 11th will be given a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 3.20%. The ex-dividend date of this dividend is Wednesday, August 9th. Emerson Electric’s payout ratio is 85.33%.
A number of equities analysts have issued reports on the company. BidaskClub cut Emerson Electric from a “hold” rating to a “sell” rating in a report on Friday, June 9th. Stifel Nicolaus reiterated a “buy” rating and set a $68.00 target price on shares of Emerson Electric in a report on Wednesday, July 19th. Cowen and Company reiterated a “hold” rating and set a $62.00 target price on shares of Emerson Electric in a report on Tuesday, May 2nd. Morgan Stanley reiterated an “overweight” rating on shares of Emerson Electric in a report on Tuesday, July 11th. Finally, JMP Securities assumed coverage on Emerson Electric in a report on Monday, June 19th. They set an “outperform” rating and a $70.00 target price for the company. Three research analysts have rated the stock with a sell rating, fourteen have given a hold rating and three have given a buy rating to the company. Emerson Electric currently has a consensus rating of “Hold” and a consensus target price of $58.14.
Emerson Electric Company 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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