Zevin Asset Management LLC raised its position in shares of Emerson Electric Co. (NYSE:EMR) by 2.4% in the third quarter, HoldingsChannel.com reports. The firm owned 100,393 shares of the industrial products company’s stock after acquiring an additional 2,392 shares during the period. Emerson Electric makes up 2.2% of Zevin Asset Management LLC’s investment portfolio, making the stock its 14th largest position. Zevin Asset Management LLC’s holdings in Emerson Electric were worth $7,688,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors have also recently bought and sold shares of EMR. Independent Advisor Alliance lifted its stake in shares of Emerson Electric by 38.0% in the 2nd quarter. Independent Advisor Alliance now owns 37,225 shares of the industrial products company’s stock worth $2,522,000 after acquiring an additional 10,250 shares during the period. Commonwealth Bank of Australia lifted its stake in shares of Emerson Electric by 3.4% in the 2nd quarter. Commonwealth Bank of Australia now owns 81,289 shares of the industrial products company’s stock worth $5,546,000 after acquiring an additional 2,652 shares during the period. AMP Capital Investors Ltd lifted its stake in shares of Emerson Electric by 12.7% in the 2nd quarter. AMP Capital Investors Ltd now owns 239,559 shares of the industrial products company’s stock worth $16,563,000 after acquiring an additional 27,052 shares during the period. Tower Research Capital LLC TRC lifted its stake in shares of Emerson Electric by 1,033.6% in the 2nd quarter. Tower Research Capital LLC TRC now owns 21,073 shares of the industrial products company’s stock worth $1,457,000 after acquiring an additional 19,214 shares during the period. Finally, Global X Management Co LLC raised its holdings in shares of Emerson Electric by 10.9% in the 2nd quarter. Global X Management Co LLC now owns 93,683 shares of the industrial products company’s stock worth $6,477,000 after purchasing an additional 9,191 shares in the last quarter. 70.33% of the stock is owned by hedge funds and other institutional investors.
EMR has been the topic of a number of research reports. Zacks Investment Research downgraded shares of Emerson Electric from a “buy” rating to a “hold” rating in a report on Friday, October 5th. Argus boosted their target price on shares of Emerson Electric from $81.00 to $83.00 and gave the stock a “buy” rating in a report on Tuesday, August 14th. Credit Suisse Group initiated coverage on shares of Emerson Electric in a report on Friday, October 12th. They issued a “neutral” rating and a $78.00 target price on the stock. Morgan Stanley initiated coverage on shares of Emerson Electric in a report on Monday, August 20th. They issued an “overweight” rating and a $85.00 target price on the stock. Finally, JPMorgan Chase & Co. boosted their target price on shares of Emerson Electric from $79.00 to $82.00 and gave the stock an “overweight” rating in a report on Friday, August 10th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and thirteen have assigned a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $78.57.
Emerson Electric (NYSE:EMR) last released its quarterly earnings results on Tuesday, November 6th. The industrial products company reported $0.89 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.92 by ($0.03). Emerson Electric had a net margin of 12.65% and a return on equity of 23.06%. The firm had revenue of $4.89 billion for the quarter, compared to analyst estimates of $4.91 billion. During the same quarter in the prior year, the firm earned $0.83 EPS. The firm’s revenue was up 10.2% compared to the same quarter last year. Equities research analysts anticipate that Emerson Electric Co. will post 3.76 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, December 10th. Stockholders of record on Friday, November 16th will be issued a dividend of $0.49 per share. The ex-dividend date is Thursday, November 15th. This represents a $1.96 dividend on an annualized basis and a dividend yield of 2.80%. This is a positive change from Emerson Electric’s previous quarterly dividend of $0.49. Emerson Electric’s payout ratio is currently 57.40%.
In other Emerson Electric news, President Edward L. Monser sold 30,000 shares of the company’s stock in a transaction that occurred on Friday, September 7th. The shares were sold at an average price of $75.84, for a total value of $2,275,200.00. Following the transaction, the president now owns 176,477 shares in the company, valued at approximately $13,384,015.68. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Steven J. Pelch sold 6,409 shares of the company’s stock in a transaction that occurred on Tuesday, August 14th. The shares were sold at an average price of $74.24, for a total transaction of $475,804.16. The disclosure for this sale can be found here. Insiders have sold 96,409 shares of company stock worth $7,317,004 in the last 90 days. 0.79% of the stock is owned by company insiders.
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Emerson Electric Profile
Emerson Electric Co, a technology and engineering company, provides various solutions to industrial, commercial, and residential markets worldwide. The company's Automation Solutions segment offers software; measurement and analytical instrumentation; valves, actuators, and regulators; industry services and solutions; process control systems and solutions; and digital plant solutions.
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