Emerson Electric Company (EMR) Stake Reduced by Edge Asset Management Inc.
Edge Asset Management Inc. decreased its stake in Emerson Electric Company (NYSE:EMR) by 1.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 880,599 shares of the industrial products company’s stock after selling 15,966 shares during the period. Edge Asset Management Inc. owned approximately 0.14% of Emerson Electric worth $52,713,000 at the end of the most recent reporting period.
A number of other institutional investors have also added to or reduced their stakes in EMR. Bank of New York Mellon Corp increased 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 valued at $871,114,000 after buying an additional 332,238 shares during the period. American International Group Inc. increased its position in Emerson Electric by 0.6% in the first quarter. American International Group Inc. now owns 9,041,764 shares of the industrial products company’s stock valued at $541,240,000 after buying an additional 53,444 shares during the period. American Century Companies Inc. increased its position in 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 valued at $259,724,000 after buying an additional 705,924 shares during the period. APG Asset Management N.V. increased its position 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 valued at $200,682,000 after buying an additional 510,160 shares during the period. Finally, Prudential Financial Inc. increased its position in Emerson Electric by 135.9% in the first quarter. Prudential Financial Inc. now owns 2,963,124 shares of the industrial products company’s stock valued at $177,372,000 after buying an additional 1,706,810 shares during the period. Hedge funds and other institutional investors own 70.17% of the company’s stock.
Emerson Electric Company (NYSE:EMR) traded down 0.46% on Tuesday, reaching $58.13. The company’s stock had a trading volume of 277,447 shares. Emerson Electric Company has a 52 week low of $49.22 and a 52 week high of $64.36. The firm has a market capitalization of $37.20 billion, a PE ratio of 25.94 and a beta of 1.20. The stock’s 50 day moving average is $59.67 and its 200-day moving average is $59.78.
Emerson Electric (NYSE:EMR) last announced its quarterly earnings data on Tuesday, August 1st. The industrial products company reported $0.68 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.68. The business had revenue of $4.04 billion for 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%. The firm’s quarterly revenue was up 9.9% compared to the same quarter last year. During the same period last year, the firm posted $0.68 earnings per share. Analysts predict that Emerson Electric Company will post $2.61 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 11th. Investors 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 dividend on an annualized basis and a yield of 3.29%. Emerson Electric’s dividend payout ratio (DPR) is 85.33%.
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EMR has been the topic of several recent analyst reports. TheStreet upgraded Emerson Electric from a “c+” rating to a “b” rating in a research report on Thursday, May 4th. Royal Bank Of Canada restated a “sector perform” rating and set a $62.00 price target (up from $61.00) on shares of Emerson Electric in a research note on Wednesday, August 2nd. Zacks Investment Research lowered Emerson Electric from a “buy” rating to a “hold” rating in a research note on Friday, May 5th. Berenberg Bank restated a “sell” rating and set a $53.00 price target on shares of Emerson Electric in a research note on Friday, August 11th. Finally, JMP Securities initiated coverage on Emerson Electric in a research note on Monday, June 19th. They set an “outperform” rating and a $70.00 price target for the company. Three equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and three have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $59.71.
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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