Emerson Electric Company (EMR) Holdings Boosted by Pinebridge Investments L.P.
Pinebridge Investments L.P. raised its stake in shares of Emerson Electric Company (NYSE:EMR) by 173.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 293,419 shares of the industrial products company’s stock after purchasing an additional 186,189 shares during the period. Pinebridge Investments L.P.’s holdings in Emerson Electric were worth $17,494,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently bought and sold shares of the business. GSA Capital Partners LLP lifted its holdings in Emerson Electric by 165.3% during the second quarter. GSA Capital Partners LLP now owns 11,478 shares of the industrial products company’s stock valued at $684,000 after purchasing an additional 7,152 shares in the last quarter. Beaumont Financial Partners LLC lifted its holdings in Emerson Electric by 8.1% during the second quarter. Beaumont Financial Partners LLC now owns 4,806 shares of the industrial products company’s stock valued at $287,000 after purchasing an additional 361 shares in the last quarter. Van ECK Associates Corp lifted its holdings in Emerson Electric by 13.3% during the second quarter. Van ECK Associates Corp now owns 515,934 shares of the industrial products company’s stock valued at $30,760,000 after purchasing an additional 60,385 shares in the last quarter. Abbot Financial Management Inc. purchased a new position in Emerson Electric during the second quarter valued at $1,535,000. Finally, UBS Asset Management Americas Inc. lifted its holdings in Emerson Electric by 3.1% during the second quarter. UBS Asset Management Americas Inc. now owns 2,492,506 shares of the industrial products company’s stock valued at $148,603,000 after purchasing an additional 74,034 shares in the last quarter. 70.18% of the stock is currently owned by institutional investors and hedge funds.
Several equities analysts have recently weighed in on EMR shares. Stifel Nicolaus reissued a “buy” rating on shares of Emerson Electric in a research note on Thursday, October 12th. Cowen and Company raised shares of Emerson Electric to a “buy” rating and set a $71.00 price target on the stock in a research note on Monday, October 23rd. Zacks Investment Research raised shares of Emerson Electric from a “sell” rating to a “hold” rating in a research note on Tuesday, October 31st. Citigroup Inc. reissued a “sell” rating and issued a $61.00 price target (up from $58.00) on shares of Emerson Electric in a research note on Monday, October 9th. Finally, BidaskClub downgraded shares of Emerson Electric from a “sell” rating to a “strong sell” rating in a research note on Friday, August 18th. Three equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and three have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $65.14.
Emerson Electric Company (NYSE:EMR) opened at $59.02 on Friday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.30 and a current ratio of 1.64. Emerson Electric Company has a 52 week low of $53.92 and a 52 week high of $67.79. The company has a market cap of $38,138.77, a PE ratio of 23.10, a price-to-earnings-growth ratio of 2.72 and a beta of 1.24.
Emerson Electric (NYSE:EMR) last issued its earnings results on Tuesday, November 7th. The industrial products company reported $0.83 EPS for the quarter, hitting analysts’ consensus estimates of $0.83. Emerson Electric had a net margin of 9.94% and a return on equity of 20.47%. The company had revenue of $4.44 billion for the quarter, compared to the consensus estimate of $4.43 billion. During the same period in the previous year, the firm earned $0.74 earnings per share. Emerson Electric’s quarterly revenue was up 12.8% compared to the same quarter last year. equities analysts predict that Emerson Electric Company will post 2.9 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, December 11th. Shareholders of record on Friday, November 17th will be given a dividend of $0.485 per share. The ex-dividend date of this dividend is Thursday, November 16th. This is a boost from Emerson Electric’s previous quarterly dividend of $0.48. This represents a $1.94 dividend on an annualized basis and a dividend yield of 3.29%. Emerson Electric’s dividend payout ratio (DPR) is currently 81.70%.
In other Emerson Electric news, insider Robert T. Sharp sold 2,000 shares of Emerson Electric stock in a transaction dated Thursday, August 31st. The shares were sold at an average price of $58.99, for a total transaction of $117,980.00. Following the completion of the sale, the insider now directly owns 64,290 shares in the company, valued at $3,792,467.10. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.79% of the stock is owned by company insiders.
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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