Emerson Electric Company (EMR) Holdings Lifted by Rhumbline Advisers
Rhumbline Advisers grew its position in Emerson Electric Company (NYSE:EMR) by 0.3% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 1,183,946 shares of the industrial products company’s stock after buying an additional 3,880 shares during the period. Rhumbline Advisers owned approximately 0.18% of Emerson Electric worth $74,399,000 as of its most recent SEC filing.
Other institutional investors have also recently modified their holdings of the company. Tower Research Capital LLC TRC purchased a new position in shares of Emerson Electric during the second quarter valued at approximately $109,000. Intellectus Partners LLC raised its holdings in shares of Emerson Electric by 0.3% during the second quarter. Intellectus Partners LLC now owns 2,094 shares of the industrial products company’s stock valued at $125,000 after purchasing an additional 7 shares during the last quarter. Mountain Capital Investment Advisors Inc purchased a new position in shares of Emerson Electric during the second quarter valued at approximately $129,000. AT Bancorp purchased a new position in shares of Emerson Electric during the second quarter valued at approximately $139,000. Finally, Harbour Capital Advisors LLC purchased a new position in shares of Emerson Electric during the first quarter valued at approximately $147,000. 69.16% of the stock is owned by institutional investors and hedge funds.
Several research firms have recently weighed in on EMR. Cowen reissued a “buy” rating and set a $72.00 price objective on shares of Emerson Electric in a report on Wednesday, December 20th. Stifel Nicolaus reissued a “buy” rating and set a $75.00 price objective on shares of Emerson Electric in a report on Monday, December 11th. Zacks Investment Research raised shares of Emerson Electric from a “sell” rating to a “hold” rating in a report on Tuesday, October 31st. Morgan Stanley reissued an “equal weight” rating and set a $67.00 price objective (up from $64.00) on shares of Emerson Electric in a report on Monday, October 2nd. Finally, Citigroup set a $61.00 price objective on shares of Emerson Electric and gave the company a “sell” rating in a report on Tuesday, November 28th. Three analysts have rated the stock with a sell rating, eleven have assigned a hold rating and four have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $65.86.
In other Emerson Electric news, VP Bell Katherine Button sold 7,518 shares of the company’s stock in a transaction that occurred on Monday, December 11th. The shares were sold at an average price of $66.36, for a total value of $498,894.48. Following the completion of the transaction, the vice president now directly owns 36,877 shares in the company, valued at $2,447,157.72. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO Edgar M. Purvis, Jr. sold 9,490 shares of the company’s stock in a transaction that occurred on Friday, December 8th. The stock was sold at an average price of $65.74, for a total transaction of $623,872.60. Following the completion of the transaction, the chief operating officer now owns 168,984 shares of the company’s stock, valued at $11,109,008.16. The disclosure for this sale can be found here. Over the last quarter, insiders sold 27,017 shares of company stock valued at $1,771,129. Company insiders own 0.84% of the company’s stock.
Shares of Emerson Electric Company (NYSE:EMR) opened at $69.53 on Wednesday. The company has a current ratio of 1.64, a quick ratio of 1.30 and a debt-to-equity ratio of 0.43. The stock has a market cap of $44,487.34, a P/E ratio of 29.59, a P/E/G ratio of 3.13 and a beta of 1.24. Emerson Electric Company has a 12-month low of $55.40 and a 12-month high of $69.84.
Emerson Electric (NYSE:EMR) last announced its earnings results on Tuesday, November 7th. The industrial products company reported $0.83 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.83. The company had revenue of $4.44 billion during the quarter, compared to analyst estimates of $4.43 billion. Emerson Electric had a net margin of 9.94% and a return on equity of 20.47%. The firm’s quarterly revenue was up 12.8% compared to the same quarter last year. During the same period in the previous year, the business posted $0.74 earnings per share. equities analysts predict that Emerson Electric Company will post 2.92 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Monday, December 11th. Investors of record on Friday, November 17th were given a dividend of $0.485 per share. This represents a $1.94 annualized dividend and a yield of 2.79%. This is a positive change from Emerson Electric’s previous quarterly dividend of $0.48. The ex-dividend date was Thursday, November 16th. Emerson Electric’s payout ratio is 82.55%.
Emerson Electric Profile
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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