Cardinal Capital Management grew its holdings in shares of Emerson Electric Company (NYSE:EMR) by 4.3% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 75,816 shares of the industrial products company’s stock after buying an additional 3,112 shares during the period. Emerson Electric accounts for 1.5% of Cardinal Capital Management’s portfolio, making the stock its 21st biggest position. Cardinal Capital Management’s holdings in Emerson Electric were worth $4,520,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also bought and sold shares of the company. Central Bank & Trust Co. increased its stake in shares of Emerson Electric by 31.3% during 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 during the period. Oppenheimer Asset Management Inc. purchased a new position in shares of Emerson Electric during the first quarter valued at approximately $127,000. Harbour Capital Advisors LLC purchased a new position in shares of Emerson Electric during the first quarter valued at approximately $147,000. Guardian Life Insurance Co. of America increased its stake in shares of Emerson Electric by 1.1% during the first quarter. Guardian Life Insurance Co. of America now owns 2,491 shares of the industrial products company’s stock valued at $149,000 after buying an additional 28 shares during the period. Finally, Perkins Coie Trust Co purchased a new position in shares of Emerson Electric during the second quarter valued at approximately $150,000. 70.19% of the stock is currently owned by hedge funds and other institutional investors.
Several equities analysts have recently issued reports on EMR shares. Stifel Nicolaus reissued a “buy” rating and set a $68.00 target price on shares of Emerson Electric in a research note on Wednesday, July 19th. BidaskClub upgraded Emerson Electric from a “sell” rating to a “hold” rating in a research report on Friday, June 16th. Royal Bank Of Canada restated a “hold” rating and set a $62.00 price target on shares of Emerson Electric in a research report on Tuesday, June 6th. JMP Securities assumed coverage on Emerson Electric in a research report on Monday, June 19th. They set an “outperform” rating and a $70.00 price target on the stock. Finally, Morgan Stanley restated 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, twelve have assigned a hold rating and three have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $60.52.
Shares of Emerson Electric Company (EMR) opened at 62.35 on Friday. The firm has a 50-day moving average price of $59.65 and a 200 day moving average price of $59.54. Emerson Electric Company has a 12-month low of $49.22 and a 12-month high of $64.36. The company has a market capitalization of $39.91 billion, a P/E ratio of 27.82 and a beta of 1.18.
Emerson Electric (NYSE:EMR) last announced its quarterly earnings results on Tuesday, August 1st. The industrial products company reported $0.68 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.68. Emerson Electric had a return on equity of 22.32% and a net margin of 8.89%. The business had revenue of $4.04 billion for the quarter, compared to the consensus estimate of $3.99 billion. During the same period last year, the business posted $0.68 EPS. The business’s revenue was up 9.9% compared to the same quarter last year. On average, equities research analysts predict that Emerson Electric Company will post $2.61 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Monday, September 11th. Stockholders of record on Friday, August 11th were issued a $0.48 dividend. The ex-dividend date was Wednesday, August 9th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 3.08%. Emerson Electric’s dividend payout ratio is presently 85.33%.
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In other news, insider Robert T. Sharp sold 2,000 shares of Emerson Electric stock in a transaction on Thursday, August 31st. The stock was sold at an average price of $58.99, for a total value of $117,980.00. Following the transaction, the insider now directly owns 64,290 shares in the company, valued at approximately $3,792,467.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.79% of the company’s stock.
Emerson Electric Company 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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