Garner Asset Management Corp Acquires Shares of 7,095 Emerson Electric Company (EMR)
Garner Asset Management Corp acquired a new position in shares of Emerson Electric Company (NYSE:EMR) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 7,095 shares of the industrial products company’s stock, valued at approximately $423,000.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Vanguard Group Inc. raised its holdings in Emerson Electric by 1.1% during the 2nd quarter. Vanguard Group Inc. now owns 44,195,877 shares of the industrial products company’s stock worth $2,634,958,000 after buying an additional 497,625 shares during the period. BlackRock Inc. grew its stake in Emerson Electric by 1.9% during the 2nd quarter. BlackRock Inc. now owns 40,954,867 shares of the industrial products company’s stock valued at $2,441,728,000 after acquiring an additional 778,791 shares in the last quarter. Longview Partners Guernsey LTD grew its stake in Emerson Electric by 4.4% during the 2nd quarter. Longview Partners Guernsey LTD now owns 12,624,050 shares of the industrial products company’s stock valued at $752,646,000 after acquiring an additional 526,712 shares in the last quarter. Wells Fargo & Company MN grew its stake in Emerson Electric by 4.3% during the 2nd quarter. Wells Fargo & Company MN now owns 10,532,262 shares of the industrial products company’s stock valued at $627,933,000 after acquiring an additional 432,753 shares in the last quarter. Finally, American International Group Inc. grew its stake in Emerson Electric by 0.6% during 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 in the last quarter. Hedge funds and other institutional investors own 69.35% of the company’s stock.
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Shares of Emerson Electric Company (NYSE EMR) opened at $62.06 on Friday. The company has a market capitalization of $39,715.81, a P/E ratio of 23.98, a P/E/G ratio of 2.92 and a beta of 1.24. Emerson Electric Company has a 12 month low of $53.92 and a 12 month high of $67.79. The company has a quick ratio of 1.30, a current ratio of 1.64 and a debt-to-equity ratio of 0.43.
Emerson Electric (NYSE:EMR) last announced its quarterly earnings results on Tuesday, November 7th. The industrial products company reported $0.83 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.83. The business had revenue of $4.44 billion during the quarter, compared to analysts’ expectations of $4.43 billion. Emerson Electric had a return on equity of 20.47% and a net margin of 9.94%. The firm’s quarterly revenue was up 12.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.74 EPS. research analysts expect that Emerson Electric Company will post 2.91 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, December 11th. Investors of record on Friday, November 17th will be paid a $0.485 dividend. This is a boost from Emerson Electric’s previous quarterly dividend of $0.48. The ex-dividend date of this dividend is Thursday, November 16th. This represents a $1.94 annualized dividend and a dividend yield of 3.13%. Emerson Electric’s payout ratio is presently 82.55%.
Several equities analysts have weighed in on EMR shares. Cowen Inc raised Emerson Electric from a “market perform” rating to an “outperform” rating in a research note on Tuesday, October 17th. Zacks Investment Research cut Emerson Electric from a “hold” rating to a “sell” rating in a research note on Tuesday, October 17th. Robert W. Baird reaffirmed a “hold” rating and set a $70.00 target price on shares of Emerson Electric in a research note on Friday, November 10th. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $62.00 target price (up previously from $61.00) on shares of Emerson Electric in a research note on Wednesday, August 2nd. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $72.00 target price (up previously from $68.00) on shares of Emerson Electric in a research note on Thursday, November 9th. Three investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and three have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $65.14.
In related news, insider Robert T. Sharp sold 2,000 shares of the business’s stock in a transaction that occurred on 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 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 SEC, which is available at this link. Insiders own 0.79% of the company’s stock.
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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