Rehmann Capital Advisory Group lifted its holdings in shares of Emerson Electric Co. (NYSE:EMR) by 7.6% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 15,013 shares of the industrial products company’s stock after buying an additional 1,061 shares during the period. Rehmann Capital Advisory Group’s holdings in Emerson Electric were worth $1,150,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also made changes to their positions in EMR. Bank of New York Mellon Corp boosted its stake in shares of Emerson Electric by 3,146,008.7% during the third quarter. Bank of New York Mellon Corp now owns 9,375,404 shares of the industrial products company’s stock worth $717,967,000 after buying an additional 9,375,106 shares during the period. Vanguard Group Inc. boosted its stake in shares of Emerson Electric by 2.4% during the third quarter. Vanguard Group Inc. now owns 51,601,229 shares of the industrial products company’s stock worth $3,951,622,000 after buying an additional 1,214,362 shares during the period. Millennium Management LLC boosted its stake in shares of Emerson Electric by 1,480.3% during the second quarter. Millennium Management LLC now owns 1,156,665 shares of the industrial products company’s stock worth $79,972,000 after buying an additional 1,083,470 shares during the period. Capital World Investors boosted its stake in shares of Emerson Electric by 7.0% during the third quarter. Capital World Investors now owns 15,250,142 shares of the industrial products company’s stock worth $1,167,856,000 after buying an additional 1,000,000 shares during the period. Finally, Los Angeles Capital Management & Equity Research Inc. boosted its stake in shares of Emerson Electric by 424.9% during the third quarter. Los Angeles Capital Management & Equity Research Inc. now owns 792,956 shares of the industrial products company’s stock worth $60,725,000 after buying an additional 641,890 shares during the period. Institutional investors and hedge funds own 70.55% of the company’s stock.
In other news, insider Surendralal Lanca Karsanbhai sold 9,070 shares of Emerson Electric stock in a transaction that occurred on Wednesday, November 28th. The shares were sold at an average price of $68.00, for a total transaction of $616,760.00. Following the completion of the sale, the insider now directly owns 20,000 shares in the company, valued at approximately $1,360,000. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, President Edward L. Monser sold 60,000 shares of Emerson Electric stock in a transaction that occurred on Monday, September 10th. The shares were sold at an average price of $76.10, for a total transaction of $4,566,000.00. Following the sale, the president now owns 176,477 shares of the company’s stock, valued at $13,429,899.70. The disclosure for this sale can be found here. 0.79% of the stock is currently owned by company insiders.
Emerson Electric (NYSE:EMR) last announced its quarterly earnings data on Tuesday, November 6th. The industrial products company reported $0.89 EPS for the quarter, missing the Zacks’ consensus estimate of $0.92 by ($0.03). The firm had revenue of $4.89 billion during the quarter, compared to analyst estimates of $4.91 billion. Emerson Electric had a net margin of 12.65% and a return on equity of 23.06%. Emerson Electric’s revenue for the quarter was up 10.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.83 EPS. On average, sell-side analysts anticipate that Emerson Electric Co. will post 3.66 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, December 10th. Stockholders of record on Friday, November 16th will be given a dividend of $0.49 per share. This represents a $1.96 dividend on an annualized basis and a dividend yield of 3.11%. This is an increase from Emerson Electric’s previous quarterly dividend of $0.49. The ex-dividend date is Thursday, November 15th. Emerson Electric’s dividend payout ratio (DPR) is presently 57.99%.
Several equities research analysts have recently weighed in on the stock. Cowen reiterated a “buy” rating and set a $81.00 target price on shares of Emerson Electric in a research note on Tuesday, November 6th. Credit Suisse Group assumed coverage on shares of Emerson Electric in a research note on Friday, October 12th. They set a “neutral” rating and a $78.00 target price for the company. Zacks Investment Research downgraded shares of Emerson Electric from a “hold” rating to a “sell” rating in a research note on Tuesday, November 13th. Barclays increased their target price on shares of Emerson Electric from $85.00 to $88.00 and gave the stock an “overweight” rating in a research note on Monday, September 24th. Finally, Berenberg Bank set a $67.00 price objective on shares of Emerson Electric and gave the company a “hold” rating in a research report on Monday, November 19th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and fourteen have issued a buy rating to the company. Emerson Electric currently has an average rating of “Buy” and an average price target of $78.39.
About Emerson Electric
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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