Whitaker Myers Wealth Managers LTD. purchased a new stake in shares of Emerson Electric Co. (NYSE:EMR – Free Report) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 2,213 shares of the industrial products company’s stock, valued at approximately $242,000.
A number of other hedge funds have also bought and sold shares of the business. Newport Trust Company LLC purchased a new stake in shares of Emerson Electric during the 2nd quarter valued at $574,908,000. Legal & General Group Plc increased its holdings in Emerson Electric by 5.2% during the second quarter. Legal & General Group Plc now owns 4,510,496 shares of the industrial products company’s stock worth $496,877,000 after buying an additional 224,784 shares during the last quarter. Swedbank AB boosted its stake in Emerson Electric by 127.3% in the third quarter. Swedbank AB now owns 2,544,439 shares of the industrial products company’s stock valued at $278,285,000 after acquiring an additional 1,424,800 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of Emerson Electric by 17.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,358,796 shares of the industrial products company’s stock valued at $259,809,000 after acquiring an additional 355,106 shares during the period. Finally, Van ECK Associates Corp increased its stake in shares of Emerson Electric by 6.8% during the 1st quarter. Van ECK Associates Corp now owns 2,106,958 shares of the industrial products company’s stock worth $238,971,000 after purchasing an additional 134,865 shares during the last quarter. 74.30% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
Several equities analysts have weighed in on EMR shares. Redburn Atlantic assumed coverage on Emerson Electric in a report on Monday, July 8th. They set a “buy” rating and a $135.00 price objective for the company. Robert W. Baird lifted their price objective on Emerson Electric from $116.00 to $117.00 and gave the stock a “neutral” rating in a report on Thursday, August 8th. Royal Bank of Canada dropped their price objective on shares of Emerson Electric from $140.00 to $139.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. Barclays lowered their price target on shares of Emerson Electric from $110.00 to $103.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 8th. Finally, Oppenheimer raised their price objective on shares of Emerson Electric from $120.00 to $125.00 and gave the stock an “outperform” rating in a report on Thursday, September 26th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $125.47.
Emerson Electric Stock Performance
Shares of EMR opened at $110.44 on Friday. The company has a current ratio of 1.16, a quick ratio of 0.86 and a debt-to-equity ratio of 0.27. The stock has a 50-day moving average price of $105.66 and a 200-day moving average price of $109.18. The company has a market cap of $63.18 billion, a PE ratio of 5.91, a price-to-earnings-growth ratio of 1.70 and a beta of 1.30. Emerson Electric Co. has a 12-month low of $83.10 and a 12-month high of $119.53.
Emerson Electric (NYSE:EMR – Get Free Report) last released its quarterly earnings results on Wednesday, August 7th. The industrial products company reported $1.43 EPS for the quarter, topping analysts’ consensus estimates of $1.42 by $0.01. Emerson Electric had a net margin of 10.12% and a return on equity of 11.41%. The business had revenue of $4.38 billion during the quarter, compared to analysts’ expectations of $4.44 billion. During the same quarter in the previous year, the company earned $1.29 EPS. The business’s quarterly revenue was up 11.0% compared to the same quarter last year. As a group, equities analysts forecast that Emerson Electric Co. will post 5.48 earnings per share for the current fiscal year.
Emerson Electric Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Friday, August 16th were given a dividend of $0.525 per share. The ex-dividend date was Friday, August 16th. This represents a $2.10 annualized dividend and a dividend yield of 1.90%. Emerson Electric’s dividend payout ratio (DPR) is presently 11.24%.
Emerson Electric Company Profile
Emerson Electric Co, a technology and software company, provides various solutions for customers in industrial, commercial, and consumer markets in the Americas, Asia, the Middle East, Africa, and Europe. It operates in six segments: Final Control, Control Systems & Software, Measurement & Analytical, AspenTech, Discrete Automation, and Safety & Productivity.
Recommended Stories
- Five stocks we like better than Emerson Electric
- What is a Bond Market Holiday? How to Invest and Trade
- Is Spotify Stock Poised to Soar? Options Traders Think So
- Stock Market Upgrades: What Are They?
- Misses and Beats: 3 Stocks That Are Moving Markets Right Now
- With Risk Tolerance, One Size Does Not Fit All
- Cisco on the Rise: AI Potential and Analyst Upgrades Drive Gains
Want to see what other hedge funds are holding EMR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Emerson Electric Co. (NYSE:EMR – Free Report).
Receive News & Ratings for Emerson Electric Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Emerson Electric and related companies with MarketBeat.com's FREE daily email newsletter.