Emerson Electric Company (EMR) Position Maintained by State Farm Mutual Automobile Insurance Co.
State Farm Mutual Automobile Insurance Co. continued to hold its stake in Emerson Electric Company (NYSE:EMR) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 8,464,506 shares of the industrial products company’s stock at the end of the first quarter. State Farm Mutual Automobile Insurance Co. owned about 1.31% of Emerson Electric worth $506,685,000 as of its most recent filing with the SEC.
Several other hedge funds have also added to or reduced their stakes in the company. Central Bank & Trust Co. boosted 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 valued at $126,000 after buying an additional 500 shares in the last quarter. Milestone Group Inc. acquired a new stake in Emerson Electric during the first quarter valued at about $201,000. Wedgewood Investors Inc. PA acquired a new stake in Emerson Electric during the first quarter valued at about $204,000. Garrison Bradford & Associates Inc. acquired a new stake in Emerson Electric during the first quarter valued at about $204,000. Finally, Trust Co. of Virginia VA acquired a new stake in Emerson Electric during the first quarter valued at about $205,000. Hedge funds and other institutional investors own 70.17% of the company’s stock.
Emerson Electric Company (EMR) traded down 0.61% during midday trading on Monday, hitting $58.20. The stock had a trading volume of 319,000 shares. Emerson Electric Company has a 12-month low of $49.22 and a 12-month high of $64.36. The firm has a 50-day moving average of $59.67 and a 200-day moving average of $59.78. The company has a market cap of $37.25 billion, a PE ratio of 25.97 and a beta of 1.20.
Emerson Electric (NYSE:EMR) last announced its quarterly earnings data on Tuesday, August 1st. The industrial products company reported $0.68 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.68. Emerson Electric had a net margin of 8.89% and a return on equity of 22.32%. The company had revenue of $4.04 billion during the quarter, compared to analysts’ expectations of $3.99 billion. During the same period in the previous year, the company earned $0.68 EPS. The business’s quarterly revenue was up 9.9% compared to the same quarter last year. Equities research analysts forecast that Emerson Electric Company will post $2.61 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 11th. Stockholders of record on Friday, August 11th will be paid a dividend of $0.48 per share. The ex-dividend date is Wednesday, August 9th. This represents a $1.92 annualized dividend and a dividend yield of 3.28%. Emerson Electric’s dividend payout ratio is presently 85.33%.
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Several research firms recently issued reports on EMR. BidaskClub cut Emerson Electric from a “sell” rating to a “strong sell” rating in a research report on Friday, August 18th. Berenberg Bank reiterated a “sell” rating and set a $53.00 target price on shares of Emerson Electric in a research report on Friday, August 11th. Royal Bank Of Canada reiterated a “sector perform” rating and set a $62.00 target price (up previously from $61.00) on shares of Emerson Electric in a research report on Wednesday, August 2nd. Cowen and Company reiterated a “hold” rating and set a $62.00 target price on shares of Emerson Electric in a research report on Tuesday, May 2nd. Finally, Morgan Stanley reiterated an “overweight” rating on shares of Emerson Electric in a research report on Tuesday, July 11th. Three analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and three have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $59.71.
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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