Viking Fund Management LLC Has $2.51 Million Holdings in Emerson Electric Company (EMR)
Viking Fund Management LLC lowered its position in Emerson Electric Company (NYSE:EMR) by 24.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 40,000 shares of the industrial products company’s stock after selling 13,000 shares during the period. Viking Fund Management LLC’s holdings in Emerson Electric were worth $2,514,000 at the end of the most recent reporting period.
Other large investors have also recently bought and sold shares of the company. Fagan Associates Inc. raised its stake in shares of Emerson Electric by 19.3% in the second quarter. Fagan Associates Inc. now owns 5,975 shares of the industrial products company’s stock valued at $356,000 after acquiring an additional 968 shares during the last quarter. Pinnacle Wealth Management Advisory Group LLC increased its holdings in shares of Emerson Electric by 6.6% in the second quarter. Pinnacle Wealth Management Advisory Group LLC now owns 10,075 shares of the industrial products company’s stock valued at $601,000 after purchasing an additional 620 shares in the last quarter. Andra AP fonden increased its holdings in shares of Emerson Electric by 5.2% in the second quarter. Andra AP fonden now owns 95,300 shares of the industrial products company’s stock valued at $5,682,000 after purchasing an additional 4,700 shares in the last quarter. Lipe & Dalton increased its holdings in shares of Emerson Electric by 1.3% in the second quarter. Lipe & Dalton now owns 42,125 shares of the industrial products company’s stock valued at $2,511,000 after purchasing an additional 560 shares in the last quarter. Finally, Vanguard Group Inc. increased its holdings in shares of Emerson Electric by 5.8% in the first quarter. Vanguard Group Inc. now owns 43,698,252 shares of the industrial products company’s stock valued at $2,615,777,000 after purchasing an additional 2,404,844 shares in the last quarter. Institutional investors own 69.00% of the company’s stock.
Emerson Electric Company (NYSE:EMR) traded up $0.05 on Thursday, reaching $64.73. 3,011,700 shares of the company’s stock were exchanged, compared to its average volume of 3,435,235. The company has a quick ratio of 1.30, a current ratio of 1.64 and a debt-to-equity ratio of 0.43. Emerson Electric Company has a 12-month low of $55.40 and a 12-month high of $67.79. The firm has a market cap of $41,512.90, a price-to-earnings ratio of 25.07, a PEG ratio of 3.04 and a beta of 1.24.
Emerson Electric (NYSE:EMR) last released 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 firm had revenue of $4.44 billion during the quarter, compared to analyst estimates of $4.43 billion. During the same quarter in the previous year, the business earned $0.74 EPS. The business’s quarterly revenue was up 12.8% compared to the same quarter last year. equities analysts forecast that Emerson Electric Company will post 2.91 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, December 11th. Shareholders of record on Friday, November 17th will be issued a dividend of $0.485 per share. This represents a $1.94 dividend on an annualized basis and a yield of 3.00%. The ex-dividend date of this dividend is Thursday, November 16th. This is a positive change from Emerson Electric’s previous quarterly dividend of $0.48. Emerson Electric’s payout ratio is currently 82.55%.
In other Emerson Electric news, VP Bell Katherine Button sold 7,909 shares of Emerson Electric stock in a transaction on Thursday, November 30th. The shares were sold at an average price of $64.78, for a total transaction of $512,345.02. Following the completion of the sale, the vice president now owns 44,628 shares of the company’s stock, valued at approximately $2,891,001.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.79% of the stock is currently owned by insiders.
A number of analysts recently weighed in on the stock. J P Morgan Chase & Co assumed coverage on shares of Emerson Electric in a report on Wednesday, November 29th. They issued a “neutral” rating for the company. BidaskClub lowered shares of Emerson Electric from a “sell” rating to a “strong sell” rating in a report on Friday, August 18th. Citigroup set a $61.00 price target on shares of Emerson Electric and gave the company a “sell” rating in a report on Tuesday, November 28th. Berenberg Bank reissued a “sell” rating and issued a $53.00 price target on shares of Emerson Electric in a report on Friday, August 11th. Finally, Zacks Investment Research raised shares of Emerson Electric from a “sell” rating to a “hold” rating in a report on Tuesday, October 31st. Three equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and four have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $65.14.
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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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