Novare Capital Management LLC Boosts Position in Emerson Electric Company (EMR)
Novare Capital Management LLC increased its position in Emerson Electric Company (NYSE:EMR) by 4.2% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 76,028 shares of the industrial products company’s stock after purchasing an additional 3,055 shares during the period. Novare Capital Management LLC’s holdings in Emerson Electric were worth $5,299,000 at the end of the most recent reporting period.
A number of other large investors have also recently bought and sold shares of the stock. Intellectus Partners LLC boosted its stake in Emerson Electric by 0.3% in the second quarter. Intellectus Partners LLC now owns 2,094 shares of the industrial products company’s stock valued at $125,000 after acquiring an additional 7 shares during the period. Parallel Advisors LLC boosted its stake in Emerson Electric by 0.5% in the second quarter. Parallel Advisors LLC now owns 4,892 shares of the industrial products company’s stock valued at $292,000 after acquiring an additional 26 shares during the period. Wayne Hummer Investments L.L.C. boosted its stake in Emerson Electric by 0.4% in the second quarter. Wayne Hummer Investments L.L.C. now owns 18,502 shares of the industrial products company’s stock valued at $1,103,000 after acquiring an additional 70 shares during the period. Trust Co. of Virginia VA boosted its stake in Emerson Electric by 2.2% in the second quarter. Trust Co. of Virginia VA now owns 3,500 shares of the industrial products company’s stock valued at $208,000 after acquiring an additional 75 shares during the period. Finally, Security National Bank of Sioux City Iowa IA boosted its stake in Emerson Electric by 0.5% in the second quarter. Security National Bank of Sioux City Iowa IA now owns 14,881 shares of the industrial products company’s stock valued at $887,000 after acquiring an additional 80 shares during the period. Institutional investors and hedge funds own 69.23% of the company’s stock.
EMR has been the subject of a number of research reports. Cowen upgraded Emerson Electric to a “buy” rating and set a $71.00 target price for the company in a research note on Monday, October 23rd. Bank of America upgraded Emerson Electric from a “neutral” rating to a “buy” rating and lifted their target price for the company from $64.44 to $79.00 in a research note on Tuesday, October 17th. Stifel Nicolaus restated a “buy” rating and issued a $72.00 target price (up from $68.00) on shares of Emerson Electric in a research note on Thursday, November 9th. Vertical Research raised Emerson Electric from a “hold” rating to a “buy” rating in a report on Tuesday, January 2nd. Finally, UBS Group assumed coverage on Emerson Electric in a report on Monday, January 22nd. They set a “buy” rating and a $73.26 price target on the stock. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the company. Emerson Electric currently has an average rating of “Hold” and an average target price of $67.65.
Shares of Emerson Electric Company (NYSE:EMR) opened at $69.07 on Friday. Emerson Electric Company has a twelve month low of $56.77 and a twelve month high of $74.45. The company has a market capitalization of $42,153.22, a P/E ratio of 27.85, a P/E/G ratio of 2.29 and a beta of 1.19. The company has a current ratio of 1.32, a quick ratio of 1.30 and a debt-to-equity ratio of 0.40.
Emerson Electric (NYSE:EMR) last announced its earnings results on Tuesday, February 6th. The industrial products company reported $0.58 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.54 by $0.04. Emerson Electric had a return on equity of 20.73% and a net margin of 10.09%. The firm had revenue of $3.82 billion for the quarter, compared to analysts’ expectations of $3.72 billion. During the same quarter in the previous year, the company earned $0.49 earnings per share. The firm’s quarterly revenue was up 18.7% compared to the same quarter last year. analysts expect that Emerson Electric Company will post 3.12 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, March 9th. Investors of record on Friday, February 16th will be issued a dividend of $0.485 per share. The ex-dividend date of this dividend is Thursday, February 15th. This represents a $1.94 annualized dividend and a yield of 2.81%. Emerson Electric’s payout ratio is 78.23%.
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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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