Westpac Banking Corp Buys 6,349 Shares of Emerson Electric Company (EMR)
Westpac Banking Corp increased its position in shares of Emerson Electric Company (NYSE:EMR) by 16.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 46,120 shares of the industrial products company’s stock after buying an additional 6,349 shares during the period. Westpac Banking Corp’s holdings in Emerson Electric were worth $2,508,000 as of its most recent filing with the SEC.
Several other institutional investors also recently added to or reduced their stakes in the stock. Somerset Trust Co boosted its stake in Emerson Electric by 2.2% in the first quarter. Somerset Trust Co now owns 21,828 shares of the industrial products company’s stock worth $1,306,000 after buying an additional 474 shares during the period. Benedict Financial Advisors Inc. boosted its stake in 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. Viking Fund Management LLC boosted its stake in Emerson Electric by 50.0% in the first quarter. Viking Fund Management LLC now owns 51,000 shares of the industrial products company’s stock worth $3,053,000 after buying an additional 17,000 shares during the period. Pinnacle Financial Partners Inc. boosted its stake in Emerson Electric by 10.4% in the first quarter. Pinnacle Financial Partners Inc. now owns 61,784 shares of the industrial products company’s stock worth $3,698,000 after buying an additional 5,844 shares during the period. Finally, Princeton Alpha Management LP acquired a new stake in Emerson Electric during the first quarter worth approximately $461,000. Institutional investors and hedge funds own 69.42% of the company’s stock.
Emerson Electric Company (NYSE EMR) traded up 0.19% on Monday, reaching $58.11. 237,100 shares of the company’s stock were exchanged. Emerson Electric Company has a 12-month low of $49.22 and a 12-month high of $64.36. The company has a market cap of $37.19 billion, a P/E ratio of 25.93 and a beta of 1.20. The firm has a 50 day moving average of $59.85 and a 200-day moving average of $59.81.
Emerson Electric (NYSE:EMR) last released its earnings results on Tuesday, August 1st. The industrial products company reported $0.68 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.68. The firm had revenue of $4.04 billion during the quarter, compared to analysts’ expectations of $3.99 billion. Emerson Electric had a net margin of 8.89% and a return on equity of 22.32%. Emerson Electric’s revenue for the quarter was up 9.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.68 EPS. Equities analysts expect that Emerson Electric Company will post $2.61 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, September 11th. Shareholders of record on Friday, August 11th will be paid a $0.48 dividend. The ex-dividend date of this dividend is Wednesday, August 9th. This represents a $1.92 annualized dividend and a yield of 3.31%. Emerson Electric’s payout ratio is currently 85.33%.
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A number of equities research analysts have recently commented on EMR shares. TheStreet upgraded Emerson Electric from a “c+” rating to a “b” rating in a research report on Thursday, May 4th. Stifel Nicolaus restated a “buy” rating and set a $68.00 target price on shares of Emerson Electric in a research report on Wednesday, July 19th. Zacks Investment Research cut Emerson Electric from a “buy” rating to a “hold” rating in a research report on Friday, May 5th. Cowen and Company restated a “hold” rating and set a $62.00 target price on shares of Emerson Electric in a research report on Tuesday, May 2nd. Finally, Royal Bank Of Canada restated a “hold” rating and set a $62.00 target price on shares of Emerson Electric in a research report on Tuesday, June 6th. Three equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and three have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $59.23.
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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