Brandes Investment Partners LP cut its position in shares of Emerson Electric Company (NYSE:EMR) by 5.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,391,767 shares of the industrial products company’s stock after selling 131,469 shares during the period. Emerson Electric accounts for 2.1% of Brandes Investment Partners LP’s portfolio, making the stock its 16th largest position. Brandes Investment Partners LP owned approximately 0.37% of Emerson Electric worth $143,172,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in EMR. First Command Financial Services Inc. raised its position in 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 worth $116,000 after buying an additional 307 shares during the period. Central Bank & Trust Co. raised its position in 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 worth $126,000 after buying an additional 500 shares during the period. Milestone Group Inc. acquired a new position in Emerson Electric during the first quarter worth $201,000. Wedgewood Investors Inc. PA acquired a new position in Emerson Electric during the first quarter worth $204,000. Finally, Garrison Bradford & Associates Inc. purchased a new position in Emerson Electric during the first quarter worth $204,000. 69.42% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Emerson Electric Company (NYSE EMR) opened at 58.00 on Friday. Emerson Electric Company has a one year low of $49.22 and a one year high of $64.36. The company has a market capitalization of $37.12 billion, a price-to-earnings ratio of 25.88 and a beta of 1.20. The stock has a 50 day moving average of $59.85 and a 200-day moving average of $59.81.
The company 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 dividend of $0.48 per share. The ex-dividend date of this dividend is Wednesday, August 9th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 3.31%. Emerson Electric’s dividend payout ratio is currently 85.33%.
A number of research analysts recently weighed in on the stock. BidaskClub lowered shares of Emerson Electric from a “sell” rating to a “strong sell” rating in a research report on Friday. Royal Bank Of Canada reissued a “sector perform” rating and set a $62.00 price target (up from $61.00) on shares of Emerson Electric in a research report on Wednesday, August 2nd. Berenberg Bank restated a “sell” rating and set a $53.00 price objective on shares of Emerson Electric in a report on Friday, August 11th. Cowen and Company restated a “hold” rating and set a $62.00 price objective on shares of Emerson Electric in a report on Tuesday, April 25th. Finally, Morgan Stanley restated an “overweight” rating on shares of Emerson Electric in a report on Tuesday, July 11th. Three investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and three have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average 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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