California Public Employees Retirement System increased its stake in shares of Emerson Electric Company (NYSE:EMR) by 1.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,785,697 shares of the industrial products company’s stock after purchasing an additional 19,700 shares during the quarter. California Public Employees Retirement System owned 0.28% of Emerson Electric worth $106,463,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. lifted its holdings in shares of Emerson Electric by 1.1% during the second quarter. Vanguard Group Inc. now owns 44,195,877 shares of the industrial products company’s stock worth $2,634,958,000 after purchasing an additional 497,625 shares during the period. BlackRock Inc. lifted its holdings in shares of Emerson Electric by 1.9% during the second quarter. BlackRock Inc. now owns 40,954,867 shares of the industrial products company’s stock worth $2,441,728,000 after purchasing an additional 778,791 shares during the period. Longview Partners Guernsey LTD lifted its holdings in shares of Emerson Electric by 4.4% during the second quarter. Longview Partners Guernsey LTD now owns 12,624,050 shares of the industrial products company’s stock worth $752,646,000 after purchasing an additional 526,712 shares during the period. Wells Fargo & Company MN lifted its holdings in shares of Emerson Electric by 4.3% during the second quarter. Wells Fargo & Company MN now owns 10,532,262 shares of the industrial products company’s stock worth $627,933,000 after purchasing an additional 432,753 shares during the period. Finally, American International Group Inc. lifted its holdings in shares of Emerson Electric by 0.6% during the first quarter. American International Group Inc. now owns 9,041,764 shares of the industrial products company’s stock worth $541,240,000 after purchasing an additional 53,444 shares during the period. 70.18% of the stock is owned by hedge funds and other institutional investors.
Emerson Electric Company (NYSE EMR) opened at $59.85 on Friday. Emerson Electric Company has a 52-week low of $53.92 and a 52-week high of $67.79. The firm has a market capitalization of $37,770.00, a price-to-earnings ratio of 23.54, a PEG ratio of 2.77 and a beta of 1.24. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.64 and a quick ratio of 1.30.
Emerson Electric (NYSE:EMR) last announced its quarterly earnings results on Tuesday, November 7th. The industrial products company reported $0.83 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.83. Emerson Electric had a return on equity of 20.47% and a net margin of 9.94%. The business had revenue of $4.44 billion during the quarter, compared to analysts’ expectations of $4.43 billion. During the same quarter last year, the business posted $0.74 earnings per share. The business’s revenue for the quarter was up 12.8% on a year-over-year basis. sell-side analysts forecast that Emerson Electric Company will post 2.9 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 11th. Investors of record on Friday, November 17th will be given a dividend of $0.485 per share. This represents a $1.94 dividend on an annualized basis and a yield of 3.24%. The ex-dividend date is Thursday, November 16th. This is a boost from Emerson Electric’s previous quarterly dividend of $0.48. Emerson Electric’s dividend payout ratio (DPR) is currently 75.00%.
Several equities research analysts recently weighed in on the company. Edward Jones downgraded Emerson Electric from a “buy” rating to a “hold” rating in a report on Friday. Cowen and Company downgraded Emerson Electric from an “outperform” rating to a “market perform” rating in a report on Thursday. Robert W. Baird reaffirmed a “hold” rating and set a $70.00 price target on shares of Emerson Electric in a report on Friday, November 10th. Royal Bank Of Canada reaffirmed a “neutral” rating on shares of Emerson Electric in a report on Thursday, November 9th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $72.00 price target (up from $68.00) on shares of Emerson Electric in a report on Thursday, November 9th. Three investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and three have issued a buy rating to the company’s stock. Emerson Electric has a consensus rating of “Hold” and a consensus price target of $65.14.
In related news, insider Robert T. Sharp sold 2,000 shares of Emerson Electric stock in a transaction dated Thursday, August 31st. The stock was 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 owns 64,290 shares in the company, valued at approximately $3,792,467.10. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.79% of the company’s stock.
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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