Wedge Capital Management L L P NC lessened its stake in shares of Emerson Electric Co. (NYSE:EMR) by 6.8% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 206,107 shares of the industrial products company’s stock after selling 14,996 shares during the period. Wedge Capital Management L L P NC’s holdings in Emerson Electric were worth $14,112,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of the stock. Vanguard Group Inc boosted its stake in Emerson Electric by 2.4% during the 3rd quarter. Vanguard Group Inc now owns 51,601,229 shares of the industrial products company’s stock valued at $3,951,622,000 after purchasing an additional 1,214,362 shares during the last quarter. BlackRock Inc. boosted its stake in Emerson Electric by 5.9% during the 4th quarter. BlackRock Inc. now owns 42,076,883 shares of the industrial products company’s stock valued at $2,514,093,000 after purchasing an additional 2,358,763 shares during the last quarter. Northern Trust Corp boosted its stake in Emerson Electric by 2.1% during the 4th quarter. Northern Trust Corp now owns 9,421,260 shares of the industrial products company’s stock valued at $562,921,000 after purchasing an additional 192,698 shares during the last quarter. Geode Capital Management LLC boosted its stake in Emerson Electric by 5.0% during the 4th quarter. Geode Capital Management LLC now owns 7,394,814 shares of the industrial products company’s stock valued at $441,115,000 after purchasing an additional 355,369 shares during the last quarter. Finally, Norges Bank purchased a new stake in Emerson Electric during the 4th quarter valued at $430,663,000. 73.06% of the stock is owned by institutional investors.
Several analysts have commented on the company. Cowen reiterated a “buy” rating and set a $81.00 target price on shares of Emerson Electric in a research note on Wednesday, January 30th. Zacks Investment Research upgraded Emerson Electric from a “hold” rating to a “buy” rating and set a $79.00 target price on the stock in a research note on Tuesday, April 2nd. 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. Credit Suisse Group increased 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. Finally, Citigroup upgraded Emerson Electric from a “neutral” rating to a “buy” rating and increased 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 assigned a buy rating to the company. Emerson Electric currently has an average rating of “Buy” and an average price target of $76.41.
Shares of EMR stock traded down $0.42 on Friday, reaching $65.24. The stock had a trading volume of 39,820 shares, compared to its average volume of 2,882,296. The company has a market cap of $40.29 billion, a P/E ratio of 19.25, a price-to-earnings-growth ratio of 2.09 and a beta of 1.23. Emerson Electric Co. has a 1 year low of $55.38 and a 1 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 released its quarterly earnings results on Tuesday, May 7th. The industrial products company reported $0.84 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.84. The firm had revenue of $4.57 billion for 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% on a year-over-year basis. During the same period last year, the business posted $0.76 EPS. As a group, analysts expect that Emerson Electric Co. will post 3.65 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Friday, May 17th will be given a dividend of $0.49 per share. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $1.96 annualized dividend and a yield of 3.00%. Emerson Electric’s dividend payout ratio (DPR) is presently 57.99%.
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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