Novare Capital Management LLC decreased its holdings in shares of Emerson Electric (NYSE:EMR) by 5.6% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 71,793 shares of the industrial products company’s stock after selling 4,235 shares during the quarter. Novare Capital Management LLC’s holdings in Emerson Electric were worth $4,903,000 as of its most recent SEC filing.
Several other hedge funds have also bought and sold shares of EMR. Tide Point Capital Management LP acquired a new position in Emerson Electric in the fourth quarter valued at $64,637,000. Millennium Management LLC boosted its holdings in Emerson Electric by 369.9% in the fourth quarter. Millennium Management LLC now owns 1,127,865 shares of the industrial products company’s stock valued at $78,601,000 after acquiring an additional 887,865 shares during the last quarter. American Century Companies Inc. boosted its holdings in Emerson Electric by 18.5% in the fourth quarter. American Century Companies Inc. now owns 5,525,308 shares of the industrial products company’s stock valued at $385,059,000 after acquiring an additional 861,558 shares during the last quarter. King Luther Capital Management Corp boosted its holdings in Emerson Electric by 173.5% in the first quarter. King Luther Capital Management Corp now owns 1,226,271 shares of the industrial products company’s stock valued at $83,754,000 after acquiring an additional 777,858 shares during the last quarter. Finally, Amundi Pioneer Asset Management Inc. acquired a new position in Emerson Electric in the fourth quarter valued at $44,291,000. Institutional investors and hedge funds own 69.53% of the company’s stock.
Emerson Electric opened at $73.14 on Monday, MarketBeat.com reports. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.98 and a current ratio of 1.30. Emerson Electric has a 12 month low of $57.39 and a 12 month high of $74.45. The stock has a market capitalization of $46.08 billion, a price-to-earnings ratio of 25.66, a P/E/G ratio of 2.18 and a beta of 1.19.
Emerson Electric (NYSE:EMR) last released its quarterly earnings data on Tuesday, May 1st. The industrial products company reported $0.76 EPS for the quarter, beating the consensus estimate of $0.72 by $0.04. Emerson Electric had a return on equity of 21.69% and a net margin of 10.83%. The company had revenue of $4.25 billion for the quarter, compared to analyst estimates of $4.22 billion. During the same period last year, the company posted $0.45 earnings per share. The firm’s revenue was up 18.9% compared to the same quarter last year. equities research analysts anticipate that Emerson Electric will post 3.18 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 11th. Shareholders of record on Friday, May 11th will be given a $0.485 dividend. This represents a $1.94 annualized dividend and a yield of 2.65%. The ex-dividend date is Thursday, May 10th. Emerson Electric’s dividend payout ratio (DPR) is presently 73.48%.
A number of brokerages recently weighed in on EMR. Stifel Nicolaus lifted their target price on Emerson Electric from $79.00 to $80.00 and gave the company a “buy” rating in a report on Thursday, May 3rd. Zacks Investment Research cut Emerson Electric from a “buy” rating to a “hold” rating in a report on Monday, May 7th. Berenberg Bank upgraded Emerson Electric from a “sell” rating to a “hold” rating and set a $69.00 target price on the stock in a report on Tuesday, April 24th. They noted that the move was a valuation call. Citigroup reduced their target price on Emerson Electric from $68.00 to $67.00 and set a “sell” rating on the stock in a report on Wednesday, May 2nd. Finally, Cowen reiterated a “buy” rating and issued a $78.00 target price on shares of Emerson Electric in a report on Wednesday, April 18th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $73.00.
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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