Abbrea Capital LLC Has $645,000 Position in Emerson Electric Company (EMR)
Abbrea Capital LLC raised its position in shares of Emerson Electric Company (NYSE:EMR) by 11.9% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 10,770 shares of the industrial products company’s stock after buying an additional 1,145 shares during the period. Abbrea Capital LLC’s holdings in Emerson Electric were worth $645,000 as of its most recent SEC filing.
A number of other hedge funds have also made changes to their positions in EMR. Bank of New York Mellon Corp raised its position in Emerson Electric by 2.3% in the first quarter. Bank of New York Mellon Corp now owns 14,552,526 shares of the industrial products company’s stock worth $871,114,000 after buying an additional 332,238 shares during the last quarter. Norges Bank bought a new position in shares of Emerson Electric during the fourth quarter worth $269,944,000. American Century Companies Inc. raised its position in shares of Emerson Electric by 19.4% in the first quarter. American Century Companies Inc. now owns 4,338,862 shares of the industrial products company’s stock worth $259,724,000 after buying an additional 705,924 shares in the last quarter. APG Asset Management N.V. increased its stake in Emerson Electric by 17.9% in the first quarter. APG Asset Management N.V. now owns 3,352,519 shares of the industrial products company’s stock worth $200,682,000 after buying an additional 510,160 shares during the last quarter. Finally, UBS Asset Management Americas Inc. increased its stake in Emerson Electric by 28.8% in the first quarter. UBS Asset Management Americas Inc. now owns 2,418,472 shares of the industrial products company’s stock worth $144,770,000 after buying an additional 540,927 shares during the last quarter. 69.42% of the stock is owned by institutional investors and hedge funds.
Shares of Emerson Electric Company (EMR) traded down 0.50% during mid-day trading on Friday, reaching $58.00. 2,063,512 shares of the company’s stock were exchanged. The stock has a market cap of $37.12 billion, a price-to-earnings ratio of 25.88 and a beta of 1.20. The stock has a 50 day moving average price of $59.85 and a 200 day moving average price of $59.81. Emerson Electric Company has a 52 week low of $49.22 and a 52 week high of $64.36.
Emerson Electric (NYSE:EMR) last announced its earnings results on Tuesday, August 1st. The industrial products company reported $0.68 EPS for the quarter, meeting the consensus estimate of $0.68. The business had revenue of $4.04 billion for the quarter, compared to the consensus estimate of $3.99 billion. Emerson Electric had a return on equity of 22.32% and a net margin of 8.89%. The company’s revenue was up 9.9% on a year-over-year basis. During the same period last year, the business posted $0.68 EPS. Equities research analysts predict that Emerson Electric Company will post $2.61 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, September 11th. Investors of record on Friday, August 11th will be issued a dividend of $0.48 per share. The ex-dividend date is Wednesday, August 9th. This represents a $1.92 annualized dividend and a dividend yield of 3.31%. Emerson Electric’s payout ratio is currently 85.33%.
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Several equities research analysts have recently weighed in on EMR shares. BidaskClub downgraded shares of Emerson Electric from a “sell” rating to a “strong sell” rating in a research note on Friday. Berenberg Bank reaffirmed a “sell” rating and issued a $53.00 price target on shares of Emerson Electric in a research note on Friday, August 11th. Royal Bank Of Canada reiterated a “sector perform” rating and set a $62.00 target price (up from $61.00) on shares of Emerson Electric in a report on Wednesday, August 2nd. Stifel Nicolaus reiterated a “buy” rating and set a $68.00 target price on shares of Emerson Electric in a report on Wednesday, July 19th. Finally, Morgan Stanley reiterated an “overweight” rating on shares of Emerson Electric in a report on Tuesday, July 11th. Three investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and three have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $58.14.
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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