Emerson Electric Company (EMR) Stake Boosted by Van ECK Associates Corp
Van ECK Associates Corp grew its holdings in Emerson Electric Company (NYSE:EMR) by 13.3% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 515,934 shares of the industrial products company’s stock after purchasing an additional 60,385 shares during the period. Van ECK Associates Corp owned approximately 0.08% of Emerson Electric worth $30,760,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also modified their holdings of the company. Oppenheimer Asset Management Inc. acquired a new stake in shares of Emerson Electric during the 1st quarter valued at $127,000. AT Bancorp acquired a new stake in shares of Emerson Electric during the 2nd quarter valued at $139,000. Harbour Capital Advisors LLC acquired a new stake in shares of Emerson Electric during the 1st quarter valued at $147,000. Guardian Life Insurance Co. of America boosted its holdings in shares of Emerson Electric by 1.1% during the 1st quarter. Guardian Life Insurance Co. of America now owns 2,491 shares of the industrial products company’s stock valued at $149,000 after acquiring an additional 28 shares in the last quarter. Finally, Perkins Coie Trust Co acquired a new stake in shares of Emerson Electric during the 2nd quarter valued at $150,000. Institutional investors own 70.18% of the company’s stock.
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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 transaction, the insider now directly owns 64,290 shares of the company’s stock, valued at approximately $3,792,467.10. The sale 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 owned by insiders.
Emerson Electric Company (EMR) opened at $59.02 on Friday. The stock has a market capitalization of $38,138.77, a PE ratio of 23.10, a PEG ratio of 2.72 and a beta of 1.24. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.64 and a quick ratio of 1.30. Emerson Electric Company has a 52 week low of $53.92 and a 52 week high of $67.79.
Emerson Electric (NYSE:EMR) last announced its quarterly earnings data on Tuesday, November 7th. The industrial products company reported $0.83 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.83. The company had revenue of $4.44 billion for the quarter, compared to the consensus estimate of $4.43 billion. Emerson Electric had a return on equity of 20.47% and a net margin of 9.94%. The firm’s revenue was up 12.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.74 EPS. sell-side analysts predict that Emerson Electric Company will post 2.9 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 11th. Stockholders of record on Friday, November 17th will be paid a $0.485 dividend. This represents a $1.94 dividend on an annualized basis and a dividend yield of 3.29%. This is an increase from Emerson Electric’s previous quarterly dividend of $0.48. The ex-dividend date is Thursday, November 16th. Emerson Electric’s payout ratio is currently 81.70%.
Several equities research analysts recently weighed in on EMR shares. Cowen and Company raised Emerson Electric to a “buy” rating and set a $71.00 price objective on the stock in a report on Monday, October 23rd. Bank of America Corporation raised Emerson Electric from a “neutral” rating to a “buy” rating and raised their price objective for the company from $64.44 to $79.00 in a report on Tuesday, October 17th. Stifel Nicolaus reissued a “buy” rating on shares of Emerson Electric in a report on Thursday, October 12th. Morgan Stanley reissued an “equal weight” rating and set a $67.00 price objective (up previously from $64.00) on shares of Emerson Electric in a report on Monday, October 2nd. Finally, Zacks Investment Research raised Emerson Electric from a “sell” rating to a “hold” rating in a report on Tuesday, October 31st. Three analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $65.14.
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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