Emerson Electric Co. (NYSE:EMR) Shares Bought by Westpac Banking Corp
Westpac Banking Corp grew its holdings in shares of Emerson Electric Co. (NYSE:EMR) by 43.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 90,167 shares of the industrial products company’s stock after purchasing an additional 27,361 shares during the quarter. Westpac Banking Corp’s holdings in Emerson Electric were worth $5,912,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also made changes to their positions in the company. Paradigm Financial Partners LLC acquired a new position in Emerson Electric during the 3rd quarter valued at approximately $1,254,000. TD Asset Management Inc. boosted its stake in Emerson Electric by 2.6% during the 3rd quarter. TD Asset Management Inc. now owns 341,195 shares of the industrial products company’s stock valued at $22,372,000 after purchasing an additional 8,533 shares during the period. Payden & Rygel bought a new stake in Emerson Electric during the 3rd quarter valued at approximately $833,000. Jupiter Asset Management Ltd. bought a new stake in Emerson Electric during the 3rd quarter valued at approximately $49,793,000. Finally, Armor Investment Advisors LLC raised its holdings in Emerson Electric by 3.7% in the 3rd quarter. Armor Investment Advisors LLC now owns 9,787 shares of the industrial products company’s stock valued at $642,000 after acquiring an additional 349 shares in the last quarter. 66.88% of the stock is currently owned by institutional investors.
EMR has been the subject of several recent research reports. Morgan Stanley upped their price target on Emerson Electric from $68.00 to $71.00 and gave the company an “equal weight” rating in a report on Thursday, November 5th. Berenberg Bank assumed coverage on Emerson Electric in a report on Thursday, August 20th. They issued a “buy” rating and a $83.00 target price for the company. Credit Suisse Group increased their target price on Emerson Electric from $77.00 to $79.00 and gave the stock an “outperform” rating in a report on Wednesday, November 4th. Stephens assumed coverage on Emerson Electric in a report on Thursday, October 15th. They issued an “overweight” rating for the company. Finally, Deutsche Bank Aktiengesellschaft increased their target price on Emerson Electric from $72.00 to $75.00 and gave the stock a “hold” rating in a report on Wednesday, November 4th. Nine investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $71.06.
Emerson Electric (NYSE:EMR) last announced its quarterly earnings data on Sunday, November 8th. The industrial products company reported $1.10 EPS for the quarter, beating the Zacks’ consensus estimate of $0.95 by $0.15. The firm had revenue of $4.56 billion for the quarter, compared to analyst estimates of $4.49 billion. Emerson Electric had a return on equity of 25.98% and a net margin of 11.71%. The business’s quarterly revenue was down 8.3% compared to the same quarter last year. During the same period last year, the company earned $1.07 EPS. On average, equities analysts expect that Emerson Electric Co. will post 3.46 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 10th. Shareholders of record on Friday, November 13th will be given a $0.505 dividend. This represents a $2.02 dividend on an annualized basis and a yield of 2.66%. This is a positive change from Emerson Electric’s previous quarterly dividend of $0.50. The ex-dividend date is Thursday, November 12th. Emerson Electric’s dividend payout ratio (DPR) is presently 58.38%.
Emerson Electric Profile
Emerson Electric Co, a technology and engineering company, provides solutions to industrial, commercial, and consumer markets worldwide. It operates through Automation Solutions and Commercial & Residential Solutions segments. The Automation Solutions segment offers measurement and analytical instrumentation, industrial valves and equipment, and process control software and systems.
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