Weatherly Asset Management L. P. Holds Holdings in Emerson Electric Company (EMR)
Weatherly Asset Management L. P. held its stake in Emerson Electric Company (NYSE:EMR) during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 5,408 shares of the industrial products company’s stock at the close of the 2nd quarter. Weatherly Asset Management L. P.’s holdings in Emerson Electric were worth $322,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of Emerson Electric by 5.8% in the first quarter. Vanguard Group Inc. now owns 43,698,252 shares of the industrial products company’s stock worth $2,615,777,000 after buying an additional 2,404,844 shares during the period. Bridgewater Associates LP purchased a new position in shares of Emerson Electric in the first quarter worth $351,000. Richard C. Young & CO. LTD. increased its stake in shares of Emerson Electric by 28.9% in the first quarter. Richard C. Young & CO. LTD. now owns 30,166 shares of the industrial products company’s stock worth $1,806,000 after buying an additional 6,771 shares during the period. Benedict Financial Advisors Inc. increased its stake in shares of Emerson Electric by 0.6% in the first quarter. Benedict Financial Advisors Inc. now owns 46,836 shares of the industrial products company’s stock worth $2,804,000 after buying an additional 262 shares during the period. Finally, TIAA CREF Investment Management LLC increased its stake in shares of Emerson Electric by 18.4% in the first quarter. TIAA CREF Investment Management LLC now owns 1,299,564 shares of the industrial products company’s stock worth $77,792,000 after buying an additional 201,677 shares during the period. Hedge funds and other institutional investors own 70.03% of the company’s stock.
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In other news, insider Robert T. Sharp sold 2,000 shares of Emerson Electric 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 sale, the insider now directly owns 64,290 shares in the company, valued at $3,792,467.10. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.79% of the stock is currently owned by company insiders.
Several research analysts recently commented on EMR shares. Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $62.00 target price (up from $61.00) on shares of Emerson Electric in a research note on Wednesday, August 2nd. Berenberg Bank reaffirmed a “sell” rating and issued a $53.00 target price on shares of Emerson Electric in a research note on Friday, August 11th. JMP Securities started coverage on shares of Emerson Electric in a research note on Monday, June 19th. They issued an “outperform” rating and a $70.00 target price on the stock. Morgan Stanley reaffirmed an “overweight” rating on shares of Emerson Electric in a research note on Tuesday, July 11th. Finally, BidaskClub downgraded shares of Emerson Electric from a “sell” rating to a “strong sell” rating in a research note on Friday, August 18th. Three investment analysts have rated the stock with a sell rating, twelve have given a hold rating and three have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $60.52.
Shares of Emerson Electric Company (NYSE:EMR) opened at 63.89 on Thursday. The stock has a 50 day moving average of $59.86 and a 200-day moving average of $59.57. Emerson Electric Company has a 52-week low of $49.22 and a 52-week high of $64.36. The stock has a market capitalization of $40.89 billion, a P/E ratio of 28.51 and a beta of 1.18.
Emerson Electric (NYSE:EMR) last released its earnings results on Tuesday, August 1st. The industrial products company reported $0.68 earnings per share for the quarter, hitting the consensus estimate of $0.68. Emerson Electric had a return on equity of 22.32% and a net margin of 8.89%. The business had revenue of $4.04 billion during the quarter, compared to the consensus estimate of $3.99 billion. During the same period last year, the company earned $0.68 earnings per share. The business’s revenue for the quarter was up 9.9% compared to the same quarter last year. Analysts predict that Emerson Electric Company will post $2.61 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Monday, September 11th. Stockholders of record on Friday, August 11th were given a dividend of $0.48 per share. The ex-dividend date was Wednesday, August 9th. This represents a $1.92 annualized dividend and a dividend yield of 3.01%. Emerson Electric’s dividend payout ratio (DPR) is 85.33%.
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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