Payden & Rygel Continues to Hold Position in Emerson Electric Company (EMR)
Payden & Rygel continued to hold its stake in shares of Emerson Electric Company (NYSE:EMR) during the second quarter, according to its most recent disclosure with the SEC. The fund owned 175,100 shares of the company’s stock at the close of the second quarter. Payden & Rygel’s holdings in Emerson Electric were worth $10,439,000 at the end of the most recent reporting period.
Other large investors have also recently modified their holdings of the company. Fagan Associates Inc. raised its position in shares of Emerson Electric by 19.3% in the 2nd quarter. Fagan Associates Inc. now owns 5,975 shares of the company’s stock valued at $356,000 after buying an additional 968 shares in the last quarter. Pinnacle Wealth Management Advisory Group LLC raised its position in shares of Emerson Electric by 6.6% in the 2nd quarter. Pinnacle Wealth Management Advisory Group LLC now owns 10,075 shares of the company’s stock valued at $601,000 after buying an additional 620 shares in the last quarter. Andra AP fonden raised its position in shares of Emerson Electric by 5.2% in the 2nd quarter. Andra AP fonden now owns 95,300 shares of the company’s stock valued at $5,682,000 after buying an additional 4,700 shares in the last quarter. Lipe & Dalton raised its position in shares of Emerson Electric by 1.3% in the 2nd quarter. Lipe & Dalton now owns 42,125 shares of the company’s stock valued at $2,511,000 after buying an additional 560 shares in the last quarter. Finally, Vanguard Group Inc. raised its position in shares of Emerson Electric by 5.8% in the 1st quarter. Vanguard Group Inc. now owns 43,698,252 shares of the company’s stock valued at $2,615,777,000 after buying an additional 2,404,844 shares in the last quarter. Institutional investors own 70.18% of the company’s stock.
Shares of Emerson Electric Company (NYSE:EMR) opened at C$61.61 on Monday. Emerson Electric Company has a 1-year low of C$53.92 and a 1-year high of C$67.79. The company has a current ratio of 1.64, a quick ratio of 1.30 and a debt-to-equity ratio of 0.43. The firm has a market cap of $39,431.61, a P/E ratio of 23.88, a price-to-earnings-growth ratio of 2.81 and a beta of 1.24.
Emerson Electric (NYSE:EMR) last posted its earnings results on Tuesday, November 7th. The company reported C$0.83 earnings per share for the quarter, hitting the Zacks’ consensus estimate of C$0.83. Emerson Electric had a net margin of 9.94% and a return on equity of 20.47%. The firm had revenue of C$4.44 billion for the quarter, compared to analyst estimates of C$4.43 billion. During the same period in the previous year, the firm posted $0.74 EPS. The company’s revenue for the quarter was up 12.8% compared to the same quarter last year. equities analysts predict that Emerson Electric Company will post 2.9 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 11th. Stockholders of record on Friday, November 17th will be paid a $0.485 dividend. This is a positive change from Emerson Electric’s previous quarterly dividend of $0.48. This represents a $1.94 dividend on an annualized basis and a dividend yield of 3.15%. The ex-dividend date is Thursday, November 16th. Emerson Electric’s dividend payout ratio is currently 81.70%.
In other news, insider Robert T. Sharp sold 2,000 shares of the company’s stock in a transaction on Thursday, August 31st. The shares were sold at an average price of C$58.99, for a total value of C$117,980.00. Following the sale, the insider now directly owns 64,290 shares of the company’s stock, valued at approximately C$3,792,467.10. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 0.79% of the company’s stock.
Several equities analysts have recently commented on EMR shares. Stifel Nicolaus restated a “buy” rating on shares of Emerson Electric in a research report on Thursday, October 12th. Wells Fargo & Company reaffirmed a “market perform” rating and set a $65.00 price target (up from $60.00) on shares of Emerson Electric in a report on Wednesday, November 8th. Bank of America Corporation raised shares of Emerson Electric from a “neutral” rating to a “buy” rating and lifted their price target for the company from $64.44 to $79.00 in a report on Tuesday, October 17th. Zacks Investment Research lowered shares of Emerson Electric from a “hold” rating to a “sell” rating in a report on Tuesday, October 17th. Finally, Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $62.00 price target (up from $61.00) on shares of Emerson Electric in a report on Wednesday, August 2nd. Three equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and four have issued a buy rating to the stock. Emerson Electric has a consensus rating of “Hold” and an average target price of C$65.14.
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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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