Mutual of America Capital Management LLC lifted its stake in shares of Emerson Electric Co. (NYSE:EMR) by 0.2% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 78,577 shares of the industrial products company’s stock after acquiring an additional 162 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Emerson Electric were worth $7,402,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of the company. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its position in shares of Emerson Electric by 13.2% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 110,950 shares of the industrial products company’s stock worth $10,678,000 after buying an additional 12,910 shares in the last quarter. Rafferty Asset Management LLC grew its holdings in Emerson Electric by 14.7% during the 2nd quarter. Rafferty Asset Management LLC now owns 12,532 shares of the industrial products company’s stock worth $1,206,000 after acquiring an additional 1,610 shares in the last quarter. People s United Financial Inc. increased its position in Emerson Electric by 8.2% during the 2nd quarter. People s United Financial Inc. now owns 58,852 shares of the industrial products company’s stock valued at $5,664,000 after purchasing an additional 4,453 shares during the period. Brandes Investment Partners LP raised its holdings in shares of Emerson Electric by 7.9% in the 2nd quarter. Brandes Investment Partners LP now owns 596,828 shares of the industrial products company’s stock valued at $57,438,000 after purchasing an additional 43,628 shares in the last quarter. Finally, Equitable Holdings Inc. lifted its position in shares of Emerson Electric by 3.3% in the 2nd quarter. Equitable Holdings Inc. now owns 3,876 shares of the industrial products company’s stock worth $373,000 after purchasing an additional 125 shares during the period. 72.54% of the stock is owned by hedge funds and other institutional investors.
A number of equities analysts recently commented on the stock. Wells Fargo & Company assumed coverage on shares of Emerson Electric in a research note on Thursday, October 7th. They issued an “equal weight” rating and a $99.00 price objective for the company. Royal Bank of Canada upgraded Emerson Electric from a “sector perform” rating to an “outperform” rating and upped their price objective for the stock from $104.00 to $116.00 in a research note on Tuesday, January 4th. Barclays lifted their target price on Emerson Electric from $98.00 to $99.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 4th. Mizuho started coverage on shares of Emerson Electric in a research report on Thursday, December 16th. They set a “neutral” rating and a $100.00 price target for the company. Finally, Morgan Stanley cut their price objective on shares of Emerson Electric from $106.00 to $102.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 7th. Five investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Buy” and an average price target of $103.90.
NYSE EMR opened at $97.47 on Monday. Emerson Electric Co. has a 12-month low of $78.33 and a 12-month high of $105.99. The company has a fifty day simple moving average of $93.44 and a two-hundred day simple moving average of $96.89. The company has a current ratio of 1.35, a quick ratio of 1.02 and a debt-to-equity ratio of 0.58. The stock has a market cap of $57.98 billion, a P/E ratio of 25.52, a P/E/G ratio of 2.28 and a beta of 1.52.
Emerson Electric (NYSE:EMR) last issued its earnings results on Wednesday, November 3rd. The industrial products company reported $1.21 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.18 by $0.03. The company had revenue of $4.90 billion during the quarter, compared to analyst estimates of $5.09 billion. Emerson Electric had a return on equity of 26.45% and a net margin of 12.63%. The firm’s quarterly revenue was up 7.5% on a year-over-year basis. During the same quarter last year, the business posted $1.10 EPS. As a group, sell-side analysts forecast that Emerson Electric Co. will post 4.91 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, December 10th. Investors of record on Friday, November 12th were given a $0.515 dividend. The ex-dividend date of this dividend was Wednesday, November 10th. This represents a $2.06 dividend on an annualized basis and a yield of 2.11%. This is a positive change from Emerson Electric’s previous quarterly dividend of $0.51. Emerson Electric’s dividend payout ratio is currently 53.93%.
About Emerson Electric
Emerson Electric Co is a global technology and engineering company, which provides innovative solutions for customers in industrial, commercial and residential markets. It operates through the following business segments: Automation Solutions, Climate Technologies, and Tools and Home Products. The Automation Solutions segment offers products, integrated solutions, software and services which enable process, hybrid and discrete manufacturers to maximize production, protect personnel and the environment, reduce project costs, and optimize their energy efficiency and operating costs.
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