Wright Investors Service Inc. Acquires 3,920 Shares of Emerson Electric Company (NYSE:EMR)
Wright Investors Service Inc. raised its position in Emerson Electric Company (NYSE:EMR) by 31.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 16,191 shares of the industrial products company’s stock after buying an additional 3,920 shares during the period. Wright Investors Service Inc.’s holdings in Emerson Electric were worth $965,000 at the end of the most recent reporting period.
Several other large investors have also bought and sold shares of EMR. First Command Financial Services Inc. increased its stake in Emerson Electric by 18.9% in the first quarter. First Command Financial Services Inc. now owns 1,935 shares of the industrial products company’s stock worth $116,000 after buying an additional 307 shares during the period. Central Bank & Trust Co. increased its stake in Emerson Electric by 31.3% in the first quarter. Central Bank & Trust Co. now owns 2,100 shares of the industrial products company’s stock worth $126,000 after buying an additional 500 shares during the period. Oppenheimer Asset Management Inc. acquired a new stake in Emerson Electric during the first quarter worth $127,000. Harbour Capital Advisors LLC acquired a new stake in Emerson Electric during the first quarter worth $147,000. Finally, Guardian Life Insurance Co. of America increased its stake in Emerson Electric by 1.1% in the first quarter. Guardian Life Insurance Co. of America now owns 2,491 shares of the industrial products company’s stock worth $149,000 after buying an additional 28 shares during the period. 69.06% of the stock is owned by institutional investors and hedge funds.
Shares of Emerson Electric Company (NYSE EMR) traded down 0.42% during mid-day trading on Friday, reaching $58.89. 2,802,773 shares of the company’s stock were exchanged. The company’s 50-day moving average price is $59.83 and its 200 day moving average price is $59.84. Emerson Electric Company has a 52-week low of $49.22 and a 52-week high of $64.36. The company has a market cap of $37.69 billion, a PE ratio of 26.28 and a beta of 1.20.
Emerson Electric (NYSE:EMR) last issued its quarterly earnings results on Tuesday, August 1st. The industrial products company reported $0.68 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.68. The company had revenue of $4.04 billion for the quarter, compared to the consensus estimate of $3.99 billion. Emerson Electric had a net margin of 8.89% and a return on equity of 22.32%. The firm’s quarterly revenue was up 9.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.68 EPS. On average, equities research analysts predict that Emerson Electric Company will post $2.61 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, September 11th. Investors of record on Friday, August 11th will be issued a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 3.26%. The ex-dividend date is Wednesday, August 9th. Emerson Electric’s dividend payout ratio (DPR) is currently 85.33%.
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Several equities research analysts have commented on EMR shares. Berenberg Bank reaffirmed a “sell” rating and issued a $53.00 target price on shares of Emerson Electric in a research note on Friday. Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $62.00 target price (up previously from $61.00) on shares of Emerson Electric in a research note on Wednesday, August 2nd. Cowen and Company reaffirmed a “hold” rating and issued a $62.00 target price on shares of Emerson Electric in a research note on Tuesday, April 25th. BidaskClub downgraded shares of Emerson Electric from a “hold” rating to a “sell” rating in a research note on Friday, July 28th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and issued a $68.00 target price on shares of Emerson Electric in a research note on Wednesday, July 19th. Three equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and three have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $58.14.
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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