Citizens Financial Group Inc RI increased its position in shares of Emerson Electric Co. (NYSE:EMR) by 24.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,784 shares of the industrial products company’s stock after acquiring an additional 2,906 shares during the quarter. Citizens Financial Group Inc RI’s holdings in Emerson Electric were worth $917,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently made changes to their positions in EMR. Wellington Management Group LLP raised its stake in shares of Emerson Electric by 408.7% in the 1st quarter. Wellington Management Group LLP now owns 6,530,697 shares of the industrial products company’s stock valued at $311,186,000 after buying an additional 5,246,997 shares in the last quarter. APG Asset Management N.V. grew its holdings in shares of Emerson Electric by 145.0% in the 1st quarter. APG Asset Management N.V. now owns 3,526,642 shares of the industrial products company’s stock worth $215,050,000 after purchasing an additional 2,086,941 shares during the last quarter. Fiduciary Management Inc. WI bought a new stake in shares of Emerson Electric in the 1st quarter worth about $91,299,000. Bank of New York Mellon Corp grew its holdings in shares of Emerson Electric by 26.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 9,058,536 shares of the industrial products company’s stock worth $561,900,000 after purchasing an additional 1,868,940 shares during the last quarter. Finally, Mackenzie Financial Corp grew its holdings in shares of Emerson Electric by 13,339.9% in the 1st quarter. Mackenzie Financial Corp now owns 1,336,465 shares of the industrial products company’s stock worth $63,683,000 after purchasing an additional 1,326,521 shares during the last quarter. 72.37% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NYSE:EMR traded down $1.28 during mid-day trading on Monday, reaching $69.37. The stock had a trading volume of 32,487 shares, compared to its average volume of 3,914,085. The firm has a market cap of $42.22 billion, a PE ratio of 22.08, a price-to-earnings-growth ratio of 2.79 and a beta of 1.48. The firm has a 50 day simple moving average of $65.10 and a two-hundred day simple moving average of $59.83. The company has a current ratio of 1.32, a quick ratio of 0.97 and a debt-to-equity ratio of 0.70. Emerson Electric Co. has a twelve month low of $37.75 and a twelve month high of $78.38.
Emerson Electric (NYSE:EMR) last announced its quarterly earnings results on Tuesday, August 4th. The industrial products company reported $0.80 earnings per share for the quarter, beating analysts’ consensus estimates of $0.61 by $0.19. The business had revenue of $3.91 billion for the quarter, compared to the consensus estimate of $3.90 billion. Emerson Electric had a net margin of 11.39% and a return on equity of 26.12%. Emerson Electric’s revenue for the quarter was down 16.4% on a year-over-year basis. During the same period last year, the company posted $0.94 EPS. On average, equities analysts anticipate that Emerson Electric Co. will post 3.3 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Friday, August 14th will be given a $0.50 dividend. The ex-dividend date is Thursday, August 13th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.88%. Emerson Electric’s dividend payout ratio is 54.20%.
Several equities research analysts have recently weighed in on EMR shares. TheStreet raised shares of Emerson Electric from a “c+” rating to a “b-” rating in a report on Wednesday, June 17th. Zacks Investment Research raised shares of Emerson Electric from a “sell” rating to a “hold” rating and set a $60.00 target price on the stock in a report on Tuesday, May 19th. Deutsche Bank lowered shares of Emerson Electric from a “buy” rating to a “hold” rating and upped their target price for the stock from $64.00 to $66.00 in a report on Tuesday, July 14th. Morgan Stanley increased their price objective on shares of Emerson Electric from $54.00 to $59.00 and gave the stock an “equal weight” rating in a report on Tuesday, June 30th. Finally, UBS Group increased their price objective on shares of Emerson Electric from $47.00 to $53.00 and gave the stock a “neutral” rating in a report on Friday, May 8th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and seven have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $66.44.
In other Emerson Electric news, COO Steven J. Pelch sold 5,061 shares of the firm’s stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $67.51, for a total transaction of $341,668.11. Also, VP Bell Katherine Button sold 687 shares of the firm’s stock in a transaction that occurred on Tuesday, June 23rd. The stock was sold at an average price of $62.27, for a total transaction of $42,779.49. Following the sale, the vice president now owns 29,741 shares in the company, valued at $1,851,972.07. The disclosure for this sale can be found here. Company insiders own 0.50% of the company’s stock.
Emerson Electric 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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