State of Tennessee Treasury Department boosted its stake in Emerson Electric Company (NYSE:EMR) by 219.4% in the 4th quarter, Holdings Channel reports. The firm owned 586,978 shares of the industrial products company’s stock after purchasing an additional 403,211 shares during the period. State of Tennessee Treasury Department’s holdings in Emerson Electric were worth $40,906,000 at the end of the most recent quarter.
Other institutional investors also recently bought and sold shares of the company. Intellectus Partners LLC boosted its position in Emerson Electric by 0.3% in the 2nd quarter. Intellectus Partners LLC now owns 2,094 shares of the industrial products company’s stock valued at $125,000 after buying an additional 7 shares during the period. Trust Co. of Virginia VA boosted its position in Emerson Electric by 2.2% in the 2nd quarter. Trust Co. of Virginia VA now owns 3,500 shares of the industrial products company’s stock valued at $208,000 after buying an additional 75 shares during the period. Security National Bank of Sioux City Iowa IA boosted its position in Emerson Electric by 0.5% in the 2nd quarter. Security National Bank of Sioux City Iowa IA now owns 14,881 shares of the industrial products company’s stock valued at $887,000 after buying an additional 80 shares during the period. Cornerstone Advisory LLP boosted its position in Emerson Electric by 2.5% in the 2nd quarter. Cornerstone Advisory LLP now owns 3,505 shares of the industrial products company’s stock valued at $209,000 after buying an additional 85 shares during the period. Finally, Frontier Wealth Management LLC boosted its position in Emerson Electric by 0.6% in the 2nd quarter. Frontier Wealth Management LLC now owns 17,830 shares of the industrial products company’s stock valued at $1,063,000 after buying an additional 105 shares during the period. Hedge funds and other institutional investors own 68.27% of the company’s stock.
Shares of Emerson Electric Company (NYSE EMR) opened at $72.09 on Friday. Emerson Electric Company has a 1 year low of $56.77 and a 1 year high of $74.45. The firm has a market cap of $45,587.69, a price-to-earnings ratio of 29.07, a P/E/G ratio of 2.26 and a beta of 1.19. The company has a quick ratio of 1.02, a current ratio of 1.32 and a debt-to-equity ratio of 0.40.
Emerson Electric (NYSE:EMR) last announced its quarterly earnings results on Tuesday, February 6th. The industrial products company reported $0.58 earnings per share for the quarter, beating analysts’ consensus estimates of $0.54 by $0.04. Emerson Electric had a net margin of 10.09% and a return on equity of 20.73%. The firm had revenue of $3.82 billion during the quarter, compared to analysts’ expectations of $3.72 billion. During the same period in the previous year, the company earned $0.49 earnings per share. Emerson Electric’s quarterly revenue was up 18.7% compared to the same quarter last year. equities analysts predict that Emerson Electric Company will post 3.11 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, March 9th. Investors of record on Friday, February 16th will be given a $0.485 dividend. The ex-dividend date of this dividend is Thursday, February 15th. This represents a $1.94 dividend on an annualized basis and a yield of 2.69%. Emerson Electric’s dividend payout ratio (DPR) is presently 78.23%.
Several equities research analysts have recently issued reports on EMR shares. Barclays started coverage on shares of Emerson Electric in a research report on Thursday, February 15th. They set an “overweight” rating and a $80.00 price objective for the company. Royal Bank of Canada raised shares of Emerson Electric from a “sector perform” rating to an “outperform” rating and lifted their price objective for the stock from $70.38 to $80.00 in a research report on Tuesday, February 13th. JPMorgan Chase & Co. raised shares of Emerson Electric from a “neutral” rating to an “overweight” rating in a research report on Friday, February 9th. Zacks Investment Research raised shares of Emerson Electric from a “hold” rating to a “buy” rating and set a $78.00 price objective for the company in a research report on Thursday, February 8th. Finally, Robert W. Baird lifted their price objective on shares of Emerson Electric from $70.00 to $76.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 7th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have assigned a buy rating to the stock. Emerson Electric has an average rating of “Hold” and an average price target of $69.67.
In other Emerson Electric news, VP Frank J. Dellaquila sold 2,100 shares of Emerson Electric stock in a transaction on Wednesday, December 6th. The shares were sold at an average price of $64.77, for a total value of $136,017.00. Following the transaction, the vice president now directly owns 178,743 shares in the company, valued at $11,577,184.11. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Bell Katherine Button sold 7,909 shares of Emerson Electric stock in a transaction on Thursday, November 30th. The shares were sold at an average price of $64.78, for a total transaction of $512,345.02. Following the completion of the transaction, the vice president now owns 44,628 shares in the company, valued at $2,891,001.84. The disclosure for this sale can be found here. Over the last three months, insiders sold 27,017 shares of company stock valued at $1,771,129. 0.79% of the stock is owned by corporate insiders.
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Emerson Electric Profile
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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