WBI Investments Inc. Invests $10.03 Million in Emerson Electric Company (EMR)
WBI Investments Inc. bought a new stake in Emerson Electric Company (NYSE:EMR) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 168,205 shares of the industrial products company’s stock, valued at approximately $10,029,000.
Several other institutional investors and hedge funds have also made changes to their positions in the business. Oppenheimer Asset Management Inc. bought a new stake in shares of Emerson Electric in the 1st quarter valued at approximately $127,000. AT Bancorp bought a new stake in shares of Emerson Electric in the 2nd quarter valued at approximately $139,000. Harbour Capital Advisors LLC bought a new stake in shares of Emerson Electric in the 1st quarter valued at approximately $147,000. Guardian Life Insurance Co. of America increased its holdings in shares of Emerson Electric by 1.1% in the 1st quarter. Guardian Life Insurance Co. of America now owns 2,491 shares of the industrial products company’s stock valued at $149,000 after acquiring an additional 28 shares during the last quarter. Finally, Perkins Coie Trust Co bought a new stake in shares of Emerson Electric in the 2nd quarter valued at approximately $150,000. 70.14% of the stock is currently owned by institutional investors.
In other Emerson Electric news, insider Robert T. Sharp sold 2,000 shares of the business’s stock in a transaction on Thursday, August 31st. The stock was sold at an average price of $58.99, for a total transaction of $117,980.00. Following the completion of the transaction, the insider now owns 64,290 shares in the company, valued at approximately $3,792,467.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.79% of the company’s stock.
A number of brokerages have recently weighed in on EMR. Stifel Nicolaus reiterated a “buy” rating on shares of Emerson Electric in a report on Thursday, October 12th. Cowen and Company upgraded Emerson Electric to a “buy” rating and set a $71.00 price target for the company in a report on Monday, October 23rd. Zacks Investment Research upgraded Emerson Electric from a “sell” rating to a “hold” rating in a report on Tuesday, October 31st. Citigroup Inc. reiterated a “sell” rating and issued a $61.00 price target (up from $58.00) on shares of Emerson Electric in a report on Monday, October 9th. Finally, BidaskClub downgraded Emerson Electric from a “hold” rating to a “sell” rating in a research note on Friday, July 28th. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating and four have assigned a buy rating to the stock. Emerson Electric has a consensus rating of “Hold” and a consensus target price of $64.77.
Emerson Electric Company (NYSE:EMR) opened at $61.61 on Friday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.24 and a current ratio of 1.64. Emerson Electric Company has a 12-month low of $53.92 and a 12-month high of $67.79. The stock has a market capitalization of $39,348.40, a price-to-earnings ratio of 23.83, a price-to-earnings-growth ratio of 2.81 and a beta of 1.24.
Emerson Electric (NYSE:EMR) last announced its quarterly earnings results on Tuesday, November 7th. The industrial products company reported $0.83 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.83. Emerson Electric had a return on equity of 20.47% and a net margin of 9.94%. The company had revenue of $4.44 billion during the quarter, compared to analyst estimates of $4.43 billion. During the same quarter in the previous year, the firm posted $0.74 EPS. The firm’s quarterly revenue was up 12.8% on a year-over-year basis. sell-side analysts expect that Emerson Electric Company will post 2.9 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, December 11th. Shareholders of record on Friday, November 17th will be given a dividend of $0.485 per share. This represents a $1.94 dividend on an annualized basis and a yield of 3.15%. The ex-dividend date is Thursday, November 16th. This is a positive change from Emerson Electric’s previous quarterly dividend of $0.48. Emerson Electric’s payout ratio is 81.70%.
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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