Meiji Yasuda Asset Management Co Ltd. lifted its stake in shares of Emerson Electric Company (NYSE:EMR) by 12.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 11,052 shares of the industrial products company’s stock after buying an additional 1,250 shares during the period. Meiji Yasuda Asset Management Co Ltd.’s holdings in Emerson Electric were worth $662,000 at the end of the most recent quarter.
Several other large investors also recently made changes to their positions in EMR. Central Bank & Trust Co. boosted its position 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 last quarter. Guardian Life Insurance Co. of America boosted its position 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 last quarter. Milestone Group Inc. purchased a new position in shares of Emerson Electric during the first quarter valued at approximately $201,000. Wedgewood Investors Inc. PA purchased a new position in shares of Emerson Electric during the first quarter valued at approximately $204,000. Finally, Garrison Bradford & Associates Inc. purchased a new position in shares of Emerson Electric during the first quarter valued at approximately $204,000. 70.03% of the stock is currently owned by institutional investors.
In other Emerson Electric news, insider Robert T. Sharp sold 2,000 shares of the firm’s 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 sale, the insider now directly owns 64,290 shares of the company’s stock, valued at $3,792,467.10. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.79% of the stock is owned by company insiders.
Emerson Electric Company (NYSE:EMR) opened at 63.44 on Friday. The stock has a market capitalization of $40.60 billion, a PE ratio of 28.31 and a beta of 1.18. Emerson Electric Company has a 52-week low of $49.22 and a 52-week high of $64.36. The company’s 50-day moving average price is $59.86 and its 200 day moving average price is $59.57.
Emerson Electric (NYSE:EMR) last posted its quarterly earnings results on Tuesday, August 1st. The industrial products company reported $0.68 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.68. The business had revenue of $4.04 billion for the quarter, compared to analysts’ expectations of $3.99 billion. Emerson Electric had a return on equity of 22.32% and a net margin of 8.89%. The business’s quarterly revenue was up 9.9% on a year-over-year basis. During the same period last year, the firm earned $0.68 earnings per share. Equities analysts forecast that Emerson Electric Company will post $2.61 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Monday, September 11th. Shareholders of record on Friday, August 11th were issued a dividend of $0.48 per share. The ex-dividend date was Wednesday, August 9th. This represents a $1.92 dividend on an annualized basis and a yield of 3.03%. Emerson Electric’s dividend payout ratio is presently 85.33%.
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Several research analysts have weighed in on the company. JMP Securities assumed coverage on Emerson Electric in a research report on Monday, June 19th. They issued an “outperform” rating and a $70.00 price objective on the stock. BidaskClub raised Emerson Electric from a “sell” rating to a “hold” rating in a research report on Friday, June 16th. Royal Bank Of Canada reissued a “sector perform” rating and issued a $62.00 price objective (up previously from $61.00) on shares of Emerson Electric in a research report on Wednesday, August 2nd. Stifel Nicolaus reissued a “buy” rating and issued a $68.00 price objective on shares of Emerson Electric in a research report on Wednesday, July 19th. Finally, Morgan Stanley restated an “overweight” rating on shares of Emerson Electric in a research note on Tuesday, July 11th. Three investment analysts have rated the stock with a sell rating, twelve have given a hold rating and three have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $60.52.
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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