Financial Counselors Inc. Has $11.21 Million Position in Emerson Electric Company (EMR)
Financial Counselors Inc. boosted its holdings in Emerson Electric Company (NYSE:EMR) by 4.8% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 187,225 shares of the industrial products company’s stock after acquiring an additional 8,614 shares during the quarter. Financial Counselors Inc.’s holdings in Emerson Electric were worth $11,207,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Bank of New York Mellon Corp increased its position in Emerson Electric by 2.3% in the 1st 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 acquiring an additional 332,238 shares during the period. American International Group Inc. increased its position in Emerson Electric by 0.6% in the 1st quarter. American International Group Inc. now owns 9,041,764 shares of the industrial products company’s stock valued at $541,240,000 after acquiring an additional 53,444 shares during the period. American Century Companies Inc. increased its position in Emerson Electric by 19.4% in the 1st quarter. American Century Companies Inc. now owns 4,338,862 shares of the industrial products company’s stock valued at $259,724,000 after acquiring an additional 705,924 shares during the period. Legal & General Group Plc increased its position in Emerson Electric by 5.5% in the 1st quarter. Legal & General Group Plc now owns 3,358,845 shares of the industrial products company’s stock valued at $201,055,000 after acquiring an additional 174,816 shares during the period. Finally, APG Asset Management N.V. increased its position in Emerson Electric by 17.9% in the 1st 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 acquiring an additional 510,160 shares during the period. Hedge funds and other institutional investors own 70.19% of the company’s stock.
Emerson Electric Company (NYSE:EMR) traded down 0.39% during midday trading on Monday, hitting $58.81. The stock had a trading volume of 1,833,159 shares. The stock’s 50-day moving average is $59.51 and its 200-day moving average is $59.62. The company has a market cap of $37.64 billion, a P/E ratio of 26.24 and a beta of 1.18. Emerson Electric Company has a one year low of $49.22 and a one year high of $64.36.
Emerson Electric (NYSE:EMR) last issued 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 company 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%. The business’s revenue for the quarter was up 9.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.68 EPS. Equities analysts predict that Emerson Electric Company will post $2.61 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, September 11th. Shareholders of record on Friday, August 11th will be given a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 3.26%. The ex-dividend date of this dividend is Wednesday, August 9th. Emerson Electric’s payout ratio is 85.33%.
Several analysts recently commented on the company. BidaskClub cut Emerson Electric from a “hold” rating to a “sell” rating in a research report on Friday, June 9th. Stifel Nicolaus reiterated a “buy” rating and set a $68.00 price target on shares of Emerson Electric in a research report on Wednesday, July 19th. Morgan Stanley reiterated an “overweight” rating on shares of Emerson Electric in a research report on Tuesday, July 11th. JMP Securities initiated coverage on Emerson Electric in a research report on Monday, June 19th. They set an “outperform” rating and a $70.00 price target on the stock. Finally, Berenberg Bank reiterated a “sell” rating and set a $53.00 price target on shares of Emerson Electric in a research report on Friday, August 11th. Three equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and three have assigned a buy rating to the company’s stock. Emerson Electric has a consensus rating of “Hold” and a consensus price target of $60.52.
In other Emerson Electric news, insider Robert T. Sharp sold 2,000 shares of the company’s stock in a transaction on Thursday, August 31st. The shares were sold at an average price of $58.99, for a total transaction of $117,980.00. Following the completion of the sale, the insider now owns 64,290 shares in the company, valued at approximately $3,792,467.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.79% of the company’s stock.
Emerson Electric 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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