Essex Savings Bank lowered its position in Emerson Electric Co. (NYSE:EMR) by 3.3% during the first quarter, HoldingsChannel.com reports. The firm owned 14,670 shares of the industrial products company’s stock after selling 500 shares during the period. Essex Savings Bank’s holdings in Emerson Electric were worth $1,004,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently modified their holdings of EMR. Neuberger Berman Group LLC grew its stake in shares of Emerson Electric by 126.7% during the third quarter. Neuberger Berman Group LLC now owns 409,693 shares of the industrial products company’s stock valued at $31,374,000 after acquiring an additional 228,935 shares in the last quarter. Vanguard Group Inc grew its stake in shares of Emerson Electric by 2.4% during the third quarter. Vanguard Group Inc now owns 51,601,229 shares of the industrial products company’s stock valued at $3,951,622,000 after acquiring an additional 1,214,362 shares in the last quarter. Federated Investors Inc. PA grew its stake in shares of Emerson Electric by 469.1% during the third quarter. Federated Investors Inc. PA now owns 65,629 shares of the industrial products company’s stock valued at $5,026,000 after acquiring an additional 54,096 shares in the last quarter. First Command Bank grew its stake in shares of Emerson Electric by 133.2% during the fourth quarter. First Command Bank now owns 3,890 shares of the industrial products company’s stock valued at $232,000 after acquiring an additional 2,222 shares in the last quarter. Finally, First American Bank grew its stake in shares of Emerson Electric by 5.7% during the fourth quarter. First American Bank now owns 49,991 shares of the industrial products company’s stock valued at $2,987,000 after acquiring an additional 2,687 shares in the last quarter. Hedge funds and other institutional investors own 73.06% of the company’s stock.
Several analysts have recently weighed in on the company. Zacks Investment Research upgraded Emerson Electric from a “sell” rating to a “hold” rating in a research note on Tuesday, May 14th. Cowen restated a “buy” rating and set a $81.00 target price on shares of Emerson Electric in a research note on Tuesday, February 5th. Credit Suisse Group raised their target price on Emerson Electric from $70.00 to $75.00 and gave the company an “outperform” rating in a research note on Wednesday, February 6th. Morgan Stanley set a $77.00 target price on Emerson Electric and gave the company a “buy” rating in a research note on Friday, February 8th. Finally, Citigroup upgraded Emerson Electric from a “neutral” rating to a “buy” rating and raised their target price for the company from $67.00 to $81.00 in a research note on Monday, April 8th. Nine investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $76.41.
NYSE:EMR opened at $65.33 on Wednesday. The stock has a market capitalization of $39.84 billion, a P/E ratio of 19.33, a PEG ratio of 2.07 and a beta of 1.23. Emerson Electric Co. has a one year low of $55.38 and a one year high of $79.70. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.07 and a quick ratio of 0.76.
Emerson Electric (NYSE:EMR) last posted its quarterly earnings results on Tuesday, May 7th. The industrial products company reported $0.84 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.84. The business had revenue of $4.57 billion during the quarter, compared to the consensus estimate of $4.64 billion. Emerson Electric had a return on equity of 24.63% and a net margin of 12.81%. The company’s revenue for the quarter was up 7.6% compared to the same quarter last year. During the same period last year, the firm earned $0.76 earnings per share. On average, analysts predict that Emerson Electric Co. will post 3.65 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Friday, May 17th will be paid a $0.49 dividend. The ex-dividend date is Thursday, May 16th. This represents a $1.96 dividend on an annualized basis and a yield of 3.00%. Emerson Electric’s dividend payout ratio (DPR) is 57.99%.
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Emerson Electric Company Profile
Emerson Electric Co, a technology and engineering company, provides various solutions to industrial, commercial, and consumer markets worldwide. The company's Automation Solutions segment offers products and integrated solutions, including measurement and analytical instrumentation; valves, actuators, and regulators; industrial solutions; and process control systems and solutions.
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