Seaward Management Limited Partnership Grows Position in Emerson Electric Company (EMR)
Seaward Management Limited Partnership increased its position in Emerson Electric Company (NYSE:EMR) by 0.4% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 282,119 shares of the industrial products company’s stock after acquiring an additional 1,014 shares during the period. Seaward Management Limited Partnership’s holdings in Emerson Electric were worth $16,819,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in EMR. Canada Pension Plan Investment Board grew its holdings in shares of Emerson Electric by 95.1% in the 1st quarter. Canada Pension Plan Investment Board now owns 428,000 shares of the industrial products company’s stock worth $25,620,000 after acquiring an additional 208,600 shares during the period. Cadence Bank NA grew its holdings in shares of Emerson Electric by 0.3% in the 1st quarter. Cadence Bank NA now owns 12,322 shares of the industrial products company’s stock worth $738,000 after acquiring an additional 37 shares during the period. Brookstone Capital Management grew its holdings in shares of Emerson Electric by 7.9% in the 1st quarter. Brookstone Capital Management now owns 103,452 shares of the industrial products company’s stock worth $6,193,000 after acquiring an additional 7,580 shares during the period. Jennison Associates LLC grew its holdings in shares of Emerson Electric by 382.3% in the 1st quarter. Jennison Associates LLC now owns 50,207 shares of the industrial products company’s stock worth $3,005,000 after acquiring an additional 39,797 shares during the period. Finally, Strategy Asset Managers LLC grew its holdings in shares of Emerson Electric by 2.2% in the 1st quarter. Strategy Asset Managers LLC now owns 21,539 shares of the industrial products company’s stock worth $1,289,000 after acquiring an additional 468 shares during the period. Institutional investors and hedge funds own 70.03% of the company’s stock.
Shares of Emerson Electric Company (NYSE EMR) opened at 63.98 on Friday. Emerson Electric Company has a 12-month low of $49.22 and a 12-month high of $64.36. The firm has a market capitalization of $40.95 billion, a P/E ratio of 28.55 and a beta of 1.22. The stock’s 50 day moving average price is $61.01 and its 200-day moving average price is $59.87.
Emerson Electric (NYSE:EMR) last issued its earnings results on Tuesday, August 1st. The industrial products company reported $0.68 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.68. The company had revenue of $4.04 billion during the quarter, compared to analyst estimates of $3.99 billion. Emerson Electric had a net margin of 8.89% and a return on equity of 22.32%. The company’s revenue for the quarter was up 9.9% on a year-over-year basis. During the same quarter last year, the business posted $0.68 EPS. On average, equities analysts expect that Emerson Electric Company will post $2.61 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Monday, September 11th. Shareholders of record on Friday, August 11th were paid a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 3.00%. The ex-dividend date of this dividend was Wednesday, August 9th. Emerson Electric’s dividend payout ratio (DPR) is currently 85.33%.
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EMR has been the topic of a number of recent research reports. Morgan Stanley reaffirmed an “equal weight” rating and issued a $67.00 target price (up previously from $64.00) on shares of Emerson Electric in a research note on Monday. JMP Securities initiated coverage on Emerson Electric in a research note on Monday, June 19th. They issued an “outperform” rating and a $70.00 target price on the stock. BidaskClub raised Emerson Electric from a “sell” rating to a “hold” rating in a research note on Friday, June 16th. Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $62.00 target price (up previously from $61.00) on shares of Emerson Electric in a research note on Wednesday, August 2nd. Finally, Stifel Nicolaus reaffirmed a “buy” rating and issued a $68.00 target price on shares of Emerson Electric in a research note on Wednesday, July 19th. Three equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and two have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $60.68.
In other Emerson Electric news, insider Robert T. Sharp sold 2,000 shares of Emerson Electric stock in a transaction on Thursday, August 31st. The shares were sold at an average price of $58.99, for a total transaction of $117,980.00. Following the completion of the sale, the insider now owns 64,290 shares of the company’s stock, valued at approximately $3,792,467.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.79% of the company’s stock.
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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