Courier Capital LLC reduced its position in Emerson Electric Co. (NYSE:EMR) by 1.4% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 19,885 shares of the industrial products company’s stock after selling 274 shares during the period. Courier Capital LLC’s holdings in Emerson Electric were worth $1,394,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds have also recently added to or reduced their stakes in EMR. Cibc World Markets Corp increased its holdings in shares of Emerson Electric by 413.3% in the second quarter. Cibc World Markets Corp now owns 228,860 shares of the industrial products company’s stock worth $14,196,000 after purchasing an additional 184,278 shares during the last quarter. FMR LLC boosted its position in shares of Emerson Electric by 3.8% during the second quarter. FMR LLC now owns 2,610,720 shares of the industrial products company’s stock valued at $161,943,000 after buying an additional 94,832 shares during the period. TIAA FSB boosted its holdings in shares of Emerson Electric by 16.3% in the third quarter. TIAA FSB now owns 42,849 shares of the industrial products company’s stock valued at $2,810,000 after purchasing an additional 5,993 shares during the period. CWM LLC boosted its holdings in shares of Emerson Electric by 36.3% in the third quarter. CWM LLC now owns 2,939 shares of the industrial products company’s stock valued at $193,000 after purchasing an additional 783 shares during the period. Finally, Principal Financial Group Inc. boosted its holdings in shares of Emerson Electric by 0.3% in the second quarter. Principal Financial Group Inc. now owns 856,734 shares of the industrial products company’s stock valued at $53,143,000 after purchasing an additional 2,823 shares during the period. Hedge funds and other institutional investors own 72.37% of the company’s stock.
A number of research firms have weighed in on EMR. Credit Suisse Group upped their target price on Emerson Electric from $77.00 to $79.00 and gave the stock an “outperform” rating in a report on Wednesday, November 4th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Emerson Electric from $72.00 to $75.00 and gave the company a “hold” rating in a report on Wednesday, November 4th. Stephens initiated coverage on shares of Emerson Electric in a research note on Thursday, October 15th. They set an “overweight” rating on the stock. JPMorgan Chase & Co. increased their target price on shares of Emerson Electric from $80.00 to $85.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 7th. Finally, Morgan Stanley raised their price target on shares of Emerson Electric from $68.00 to $71.00 and gave the company an “equal weight” rating in a research note on Thursday, November 5th. Nine investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Emerson Electric presently has an average rating of “Hold” and an average price target of $71.06.
EMR stock opened at $76.96 on Tuesday. The stock has a market cap of $46.61 billion, a PE ratio of 24.07, a price-to-earnings-growth ratio of 2.57 and a beta of 1.52. The company has a quick ratio of 0.97, a current ratio of 1.52 and a debt-to-equity ratio of 0.75. The firm’s 50-day simple moving average is $69.16 and its 200 day simple moving average is $64.60. Emerson Electric Co. has a fifty-two week low of $37.75 and a fifty-two week high of $78.38.
Emerson Electric (NYSE:EMR) last announced its earnings results on Sunday, November 8th. The industrial products company reported $1.10 EPS for the quarter, topping the consensus estimate of $0.95 by $0.15. The company had revenue of $4.56 billion during the quarter, compared to analysts’ expectations of $4.49 billion. Emerson Electric had a net margin of 11.71% and a return on equity of 25.98%. The business’s revenue for the quarter was down 8.3% on a year-over-year basis. During the same period last year, the company posted $1.07 earnings per share. Equities analysts forecast that Emerson Electric Co. will post 3.45 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, December 10th. Stockholders of record on Friday, November 13th will be given a $0.505 dividend. This is a positive change from Emerson Electric’s previous quarterly dividend of $0.50. The ex-dividend date is Thursday, November 12th. This represents a $2.02 dividend on an annualized basis and a dividend yield of 2.62%. Emerson Electric’s dividend payout ratio (DPR) is currently 58.38%.
About Emerson Electric
Emerson Electric Co, a technology and engineering company, provides solutions to industrial, commercial, and consumer markets worldwide. It operates through Automation Solutions and Commercial & Residential Solutions segments. The Automation Solutions segment offers measurement and analytical instrumentation, industrial valves and equipment, and process control software and systems.
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