Pensionfund Sabic purchased a new stake in shares of Emerson Electric Company (NYSE:EMR) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 33,700 shares of the industrial products company’s stock, valued at approximately $2,118,000.
Other large investors have also added to or reduced their stakes in the company. Fagan Associates Inc. increased its stake in shares of Emerson Electric by 19.3% during the second quarter. Fagan Associates Inc. now owns 5,975 shares of the industrial products company’s stock worth $356,000 after purchasing an additional 968 shares during the period. Pinnacle Wealth Management Advisory Group LLC increased its stake in shares of Emerson Electric by 6.6% during the second quarter. Pinnacle Wealth Management Advisory Group LLC now owns 10,075 shares of the industrial products company’s stock worth $601,000 after purchasing an additional 620 shares during the period. Andra AP fonden increased its stake in shares of Emerson Electric by 5.2% during the second quarter. Andra AP fonden now owns 95,300 shares of the industrial products company’s stock worth $5,682,000 after purchasing an additional 4,700 shares during the period. Lipe & Dalton increased its stake in shares of Emerson Electric by 1.3% during the second quarter. Lipe & Dalton now owns 42,125 shares of the industrial products company’s stock worth $2,511,000 after purchasing an additional 560 shares during the period. Finally, Vanguard Group Inc. increased its stake in shares of Emerson Electric by 5.8% during the first quarter. Vanguard Group Inc. now owns 43,698,252 shares of the industrial products company’s stock worth $2,615,777,000 after purchasing an additional 2,404,844 shares during the period. Hedge funds and other institutional investors own 69.00% of the company’s stock.
In related news, VP Bell Katherine Button sold 7,909 shares of the firm’s stock in a transaction on Thursday, November 30th. The stock was 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 directly owns 44,628 shares of the company’s stock, valued at approximately $2,891,001.84. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.79% of the company’s stock.
Emerson Electric (NYSE:EMR) last released its quarterly earnings data on Tuesday, November 7th. The industrial products company reported $0.83 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.83. Emerson Electric had a return on equity of 20.47% and a net margin of 9.94%. The company had revenue of $4.44 billion for the quarter, compared to the consensus estimate of $4.43 billion. During the same quarter last year, the business posted $0.74 EPS. Emerson Electric’s revenue for the quarter was up 12.8% on a year-over-year basis. analysts expect that Emerson Electric Company will post 2.91 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 11th. Investors of record on Friday, November 17th will be issued a dividend of $0.485 per share. This is an increase from Emerson Electric’s previous quarterly dividend of $0.48. The ex-dividend date of this dividend is Thursday, November 16th. This represents a $1.94 annualized dividend and a dividend yield of 3.00%. Emerson Electric’s dividend payout ratio (DPR) is 82.55%.
A number of brokerages have recently weighed in on EMR. Stifel Nicolaus reiterated a “buy” rating on shares of Emerson Electric in a research note on Thursday, October 12th. Edward Jones downgraded Emerson Electric from a “buy” rating to a “hold” rating in a research report on Friday, November 17th. Cowen raised Emerson Electric to a “buy” rating and set a $71.00 price target on the stock in a research report on Monday, October 23rd. Zacks Investment Research raised Emerson Electric from a “sell” rating to a “hold” rating in a research report on Tuesday, October 31st. Finally, Citigroup set a $61.00 price target on Emerson Electric and gave the stock a “sell” rating in a research report on Tuesday, November 28th. Three equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and four have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $65.14.
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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