TIAA CREF Investment Management LLC Has $77.79 Million Position in Emerson Electric Company (EMR)
TIAA CREF Investment Management LLC increased its position in shares of Emerson Electric Company (NYSE:EMR) by 18.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,299,564 shares of the industrial products company’s stock after buying an additional 201,677 shares during the period. TIAA CREF Investment Management LLC owned approximately 0.20% of Emerson Electric worth $77,792,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently modified their holdings of the stock. State of Alaska Department of Revenue raised its position in shares of Emerson Electric by 87.0% in the first quarter. State of Alaska Department of Revenue now owns 56,919 shares of the industrial products company’s stock worth $3,407,000 after buying an additional 26,474 shares in the last quarter. Rothschild Investment Corp IL raised its position in shares of Emerson Electric by 2.0% in the first quarter. Rothschild Investment Corp IL now owns 12,755 shares of the industrial products company’s stock worth $764,000 after buying an additional 244 shares in the last quarter. City Holding Co. raised its position in shares of Emerson Electric by 1.1% in the first quarter. City Holding Co. now owns 35,608 shares of the industrial products company’s stock worth $2,131,000 after buying an additional 375 shares in the last quarter. West Coast Financial LLC raised its position in shares of Emerson Electric by 2.9% in the first quarter. West Coast Financial LLC now owns 54,408 shares of the industrial products company’s stock worth $3,257,000 after buying an additional 1,540 shares in the last quarter. Finally, Oakbrook Investments LLC bought a new position in shares of Emerson Electric during the first quarter worth approximately $1,835,000. 70.17% of the stock is currently owned by institutional investors and hedge funds.
Shares of Emerson Electric Company (EMR) traded up 0.33% during mid-day trading on Wednesday, hitting $58.54. The stock had a trading volume of 610,442 shares. The stock has a 50 day moving average of $59.67 and a 200-day moving average of $59.78. The stock has a market capitalization of $37.47 billion, a P/E ratio of 26.12 and a beta of 1.20. Emerson Electric Company has a 52 week low of $49.22 and a 52 week high of $64.36.
Emerson Electric (NYSE:EMR) last released its quarterly earnings data on Tuesday, August 1st. The industrial products company reported $0.68 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.68. Emerson Electric had a net margin of 8.89% and a return on equity of 22.32%. The business had revenue of $4.04 billion during the quarter, compared to analyst estimates of $3.99 billion. During the same period in the previous year, the business earned $0.68 EPS. Emerson Electric’s revenue was up 9.9% compared to the same quarter last year. On average, equities research analysts predict that Emerson Electric Company will post $2.61 earnings per share for the current year.
The firm 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 is 85.33%.
A number of research analysts have recently commented on the company. JMP Securities assumed coverage on Emerson Electric in a report on Monday, June 19th. They set an “outperform” rating and a $70.00 price objective on the stock. Cowen and Company reissued a “hold” rating and set a $62.00 price objective on shares of Emerson Electric in a report on Tuesday, May 2nd. BidaskClub raised Emerson Electric from a “sell” rating to a “hold” rating in a report on Friday, June 16th. Royal Bank Of Canada reissued a “sector perform” rating and set a $62.00 price objective (up previously from $61.00) on shares of Emerson Electric in a report on Wednesday, August 2nd. Finally, Stifel Nicolaus reissued a “buy” rating and set a $68.00 price objective on shares of Emerson Electric in a report on Wednesday, July 19th. Three research analysts have rated the stock with a sell rating, thirteen have given a hold rating and three have given a buy rating to the stock. Emerson Electric has an average rating of “Hold” and a consensus target price of $60.52.
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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