Global X Management Co. LLC Has $1.58 Million Position in Emerson Electric Company (EMR)
Global X Management Co. LLC increased its stake in shares of Emerson Electric Company (NYSE:EMR) by 45.2% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 26,561 shares of the industrial products company’s stock after purchasing an additional 8,272 shares during the quarter. Global X Management Co. LLC’s holdings in Emerson Electric were worth $1,584,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently modified their holdings of EMR. Vanguard Group Inc. lifted its stake in shares of Emerson Electric by 5.8% during the 1st quarter. Vanguard Group Inc. now owns 43,698,252 shares of the industrial products company’s stock worth $2,615,777,000 after purchasing an additional 2,404,844 shares during the last quarter. Prudential Financial Inc. lifted its stake in shares of Emerson Electric by 135.9% during the 1st quarter. Prudential Financial Inc. now owns 2,963,124 shares of the industrial products company’s stock worth $177,372,000 after purchasing an additional 1,706,810 shares during the last quarter. Pictet Asset Management Ltd. lifted its stake in shares of Emerson Electric by 217.1% during the 2nd quarter. Pictet Asset Management Ltd. now owns 2,460,762 shares of the industrial products company’s stock worth $145,480,000 after purchasing an additional 1,684,786 shares during the last quarter. American Century Companies Inc. lifted its stake in shares of Emerson Electric by 19.4% during the 1st quarter. American Century Companies Inc. now owns 4,338,862 shares of the industrial products company’s stock worth $259,724,000 after purchasing an additional 705,924 shares during the last quarter. Finally, Bank of Nova Scotia lifted its stake in shares of Emerson Electric by 3,745.5% during the 1st quarter. Bank of Nova Scotia now owns 561,400 shares of the industrial products company’s stock worth $33,771,000 after purchasing an additional 546,801 shares during the last quarter. Hedge funds and other institutional investors own 70.03% of the company’s stock.
EMR has been the subject of a number of analyst reports. Royal Bank Of Canada restated a “sector perform” rating and set a $62.00 price objective (up from $61.00) on shares of Emerson Electric in a research note on Wednesday, August 2nd. Berenberg Bank restated a “sell” rating and set a $53.00 price objective on shares of Emerson Electric in a research note on Friday, August 11th. 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 objective for the company. Morgan Stanley restated an “overweight” rating on shares of Emerson Electric in a research note on Tuesday, July 11th. Finally, BidaskClub cut Emerson Electric from a “sell” rating to a “strong sell” rating in a research note on Friday, August 18th. Three investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and two have assigned a buy rating to the stock. Emerson Electric currently has a consensus rating of “Hold” and an average target price of $60.68.
In other news, insider Robert T. Sharp sold 2,000 shares of the business’s stock in a transaction dated Thursday, August 31st. The stock was sold at an average price of $58.99, for a total value of $117,980.00. Following the completion of the sale, the insider now directly owns 64,290 shares of the company’s stock, valued at approximately $3,792,467.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.79% of the stock is currently owned by insiders.
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Shares of Emerson Electric Company (EMR) opened at 63.98 on Friday. Emerson Electric Company has a 1-year low of $49.22 and a 1-year high of $64.36. The stock has a market capitalization of $40.95 billion, a PE ratio of 28.55 and a beta of 1.22. The firm has a 50-day moving average price of $61.01 and a 200-day moving average price of $59.87.
Emerson Electric (NYSE:EMR) last posted its earnings results on Tuesday, August 1st. The industrial products company reported $0.68 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.68. Emerson Electric had a return on equity of 22.32% and a net margin of 8.89%. The business had revenue of $4.04 billion during the quarter, compared to the consensus estimate of $3.99 billion. During the same period in the previous year, the business earned $0.68 EPS. The business’s quarterly revenue was up 9.9% on a year-over-year basis. On average, equities research analysts forecast that Emerson Electric Company will post $2.61 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Monday, September 11th. Stockholders of record on Friday, August 11th were issued a $0.48 dividend. This represents a $1.92 annualized dividend and a dividend yield of 3.00%. The ex-dividend date of this dividend was Wednesday, August 9th. Emerson Electric’s payout ratio is currently 85.33%.
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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