Columbia Asset Management boosted its position in shares of Emerson Electric Company (NYSE:EMR) by 0.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 73,672 shares of the industrial products company’s stock after buying an additional 69 shares during the period. Emerson Electric makes up approximately 1.5% of Columbia Asset Management’s portfolio, making the stock its 20th largest position. Columbia Asset Management’s holdings in Emerson Electric were worth $4,410,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also recently modified their holdings of EMR. CAPROCK Group Inc. raised its stake in Emerson Electric by 0.8% in the first quarter. CAPROCK Group Inc. now owns 4,689 shares of the industrial products company’s stock valued at $281,000 after buying an additional 37 shares during the period. Cadence Bank NA raised its stake in Emerson Electric by 0.3% in the first quarter. Cadence Bank NA now owns 12,322 shares of the industrial products company’s stock valued at $738,000 after buying an additional 37 shares during the period. Lourd Capital LLC raised its stake in Emerson Electric by 0.4% in the first quarter. Lourd Capital LLC now owns 9,242 shares of the industrial products company’s stock valued at $553,000 after buying an additional 40 shares during the period. ZWJ Investment Counsel Inc. raised its stake in Emerson Electric by 1.3% in the first quarter. ZWJ Investment Counsel Inc. now owns 4,030 shares of the industrial products company’s stock valued at $241,000 after buying an additional 50 shares during the period. Finally, Glenview Trust Co raised its stake in Emerson Electric by 0.3% in the first quarter. Glenview Trust Co now owns 19,515 shares of the industrial products company’s stock valued at $1,168,000 after buying an additional 65 shares during the period. 69.42% of the stock is currently owned by hedge funds and other institutional investors.
Emerson Electric Company (NYSE EMR) traded down 0.50% during trading on Friday, reaching $58.00. The company’s stock had a trading volume of 2,063,512 shares. The company has a market cap of $37.12 billion, a PE ratio of 25.88 and a beta of 1.20. The stock has a 50-day moving average price of $59.85 and a 200 day moving average price of $59.81. Emerson Electric Company has a 52-week low of $49.22 and a 52-week high of $64.36.
Emerson Electric (NYSE:EMR) last posted its quarterly earnings data on Tuesday, August 1st. The industrial products company reported $0.68 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.68. Emerson Electric had a return on equity of 22.32% and a net margin of 8.89%. The firm had revenue of $4.04 billion during the quarter, compared to analysts’ expectations of $3.99 billion. During the same period in the prior year, the business earned $0.68 EPS. The company’s revenue for the quarter was up 9.9% compared to the same quarter last year. On average, analysts expect that Emerson Electric Company will post $2.61 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 11th. Stockholders of record on Friday, August 11th will be issued a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 3.31%. The ex-dividend date of this dividend is Wednesday, August 9th. Emerson Electric’s payout ratio is currently 85.33%.
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Several analysts have recently issued reports on EMR shares. TheStreet raised Emerson Electric from a “c+” rating to a “b” rating in a report on Thursday, May 4th. Stifel Nicolaus reissued a “buy” rating and set a $67.00 target price (up from $65.00) on shares of Emerson Electric in a report on Monday, May 15th. Zacks Investment Research lowered Emerson Electric from a “buy” rating to a “hold” rating in a report on Friday, May 5th. JMP Securities started coverage on Emerson Electric in a report on Monday, June 19th. They set an “outperform” rating and a $70.00 target price on the stock. Finally, Morgan Stanley reissued an “overweight” rating on shares of Emerson Electric in a report on Tuesday, July 11th. Three research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and three have assigned a buy rating to the company. Emerson Electric currently has a consensus rating of “Hold” and a consensus target price of $58.14.
Emerson Electric Company 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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