Rosenbaum Jay D. continued to hold its position in shares of Emerson Electric Company (NYSE:EMR) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 12,850 shares of the industrial products company’s stock at the end of the second quarter. Emerson Electric makes up 1.5% of Rosenbaum Jay D.’s investment portfolio, making the stock its 29th largest position. Rosenbaum Jay D.’s holdings in Emerson Electric were worth $766,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently modified their holdings of the company. First Command Financial Services Inc. raised its position in shares of Emerson Electric by 18.9% in the first quarter. First Command Financial Services Inc. now owns 1,935 shares of the industrial products company’s stock valued at $116,000 after buying an additional 307 shares in the last quarter. Central Bank & Trust Co. raised its position in shares of Emerson Electric by 31.3% in the first quarter. Central Bank & Trust Co. now owns 2,100 shares of the industrial products company’s stock valued at $126,000 after buying an additional 500 shares in the last quarter. Oppenheimer Asset Management Inc. bought a new position in shares of Emerson Electric during the first quarter valued at about $127,000. Harbour Capital Advisors LLC bought a new position in shares of Emerson Electric during the first quarter valued at about $147,000. Finally, Guardian Life Insurance Co. of America raised its position in shares of Emerson Electric by 1.1% in the first quarter. Guardian Life Insurance Co. of America now owns 2,491 shares of the industrial products company’s stock valued at $149,000 after buying an additional 28 shares in the last quarter. 69.42% of the stock is currently owned by institutional investors and hedge funds.
Emerson Electric Company (NYSE:EMR) traded up 0.21% on Friday, hitting $58.41. 1,180,618 shares of the company were exchanged. Emerson Electric Company has a 52 week low of $49.22 and a 52 week high of $64.36. The company has a 50 day moving average price of $59.86 and a 200-day moving average price of $59.82. The stock has a market capitalization of $37.38 billion, a P/E ratio of 26.06 and a beta of 1.20.
Emerson Electric (NYSE:EMR) last released its earnings results on Tuesday, August 1st. The industrial products company reported $0.68 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.68. The firm had revenue of $4.04 billion for the quarter, compared to the consensus estimate of $3.99 billion. Emerson Electric had a net margin of 8.89% and a return on equity of 22.32%. The company’s revenue was up 9.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.68 EPS. On average, equities analysts expect that Emerson Electric Company will post $2.61 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, September 11th. Stockholders of record on Friday, August 11th will be given a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 3.29%. The ex-dividend date is Wednesday, August 9th. Emerson Electric’s dividend payout ratio is presently 85.33%.
Several brokerages recently issued reports on EMR. BidaskClub lowered shares of Emerson Electric from a “sell” rating to a “strong sell” rating in a research note on Friday. Royal Bank Of Canada reissued a “sector perform” rating and set a $62.00 target price (up from $61.00) on shares of Emerson Electric in a research note on Wednesday, August 2nd. Berenberg Bank reissued a “sell” rating and set a $53.00 target price on shares of Emerson Electric in a research note on Friday, August 11th. Cowen and Company reissued a “hold” rating and set a $62.00 target price on shares of Emerson Electric in a research note on Tuesday, April 25th. Finally, Morgan Stanley reissued an “overweight” rating on shares of Emerson Electric in a research note on Tuesday, July 11th. Three equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and three have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $58.14.
About Emerson Electric
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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