Charter Trust Co. boosted its holdings in shares of Emerson Electric Co. (NYSE:EMR) by 0.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 56,726 shares of the industrial products company’s stock after acquiring an additional 421 shares during the quarter. Charter Trust Co.’s holdings in Emerson Electric were worth $5,459,000 at the end of the most recent quarter.
Several other hedge funds have also added to or reduced their stakes in the company. abrdn plc grew its stake in shares of Emerson Electric by 17.5% in the second quarter. abrdn plc now owns 2,765,898 shares of the industrial products company’s stock worth $266,190,000 after purchasing an additional 412,478 shares during the last quarter. Verdence Capital Advisors LLC grew its position in shares of Emerson Electric by 75.9% in the 2nd quarter. Verdence Capital Advisors LLC now owns 12,828 shares of the industrial products company’s stock valued at $1,235,000 after buying an additional 5,536 shares during the last quarter. Avantax Advisory Services Inc. increased its stake in shares of Emerson Electric by 6.9% in the first quarter. Avantax Advisory Services Inc. now owns 29,270 shares of the industrial products company’s stock valued at $2,638,000 after buying an additional 1,886 shares during the period. MML Investors Services LLC raised its position in shares of Emerson Electric by 4.9% during the first quarter. MML Investors Services LLC now owns 58,711 shares of the industrial products company’s stock worth $5,297,000 after acquiring an additional 2,724 shares during the last quarter. Finally, Atria Investments LLC boosted its holdings in Emerson Electric by 3.7% in the second quarter. Atria Investments LLC now owns 61,266 shares of the industrial products company’s stock valued at $5,896,000 after acquiring an additional 2,183 shares during the last quarter. 72.67% of the stock is owned by hedge funds and other institutional investors.
EMR has been the topic of a number of analyst reports. Morgan Stanley upped their price objective on shares of Emerson Electric from $97.00 to $106.00 and gave the company an “equal weight” rating in a research note on Thursday, August 5th. Deutsche Bank Aktiengesellschaft lifted their price objective on Emerson Electric from $103.00 to $111.00 and gave the stock a “buy” rating in a research report on Wednesday, July 14th. Cowen reaffirmed a “buy” rating on shares of Emerson Electric in a research note on Tuesday, August 31st. Barclays boosted their price target on Emerson Electric from $91.00 to $94.00 and gave the company an “equal weight” rating in a research note on Thursday, July 8th. Finally, Zacks Investment Research raised shares of Emerson Electric from a “hold” rating to a “buy” rating and set a $109.00 price objective for the company in a research report on Thursday, August 12th. Two analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $99.95.
Emerson Electric (NYSE:EMR) last issued its quarterly earnings data on Wednesday, August 4th. The industrial products company reported $1.09 EPS for the quarter, topping analysts’ consensus estimates of $0.98 by $0.11. The firm had revenue of $4.70 billion during the quarter, compared to analyst estimates of $4.58 billion. Emerson Electric had a return on equity of 26.77% and a net margin of 13.20%. The company’s revenue for the quarter was up 20.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.80 EPS. On average, analysts anticipate that Emerson Electric Co. will post 4.08 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 10th. Shareholders of record on Friday, August 13th were issued a dividend of $0.505 per share. This represents a $2.02 dividend on an annualized basis and a yield of 2.14%. The ex-dividend date of this dividend was Thursday, August 12th. Emerson Electric’s dividend payout ratio is 58.38%.
In related news, VP Bell Katherine Button sold 12,850 shares of the firm’s stock in a transaction dated Tuesday, August 10th. The shares were sold at an average price of $101.21, for a total transaction of $1,300,548.50. Following the transaction, the vice president now directly owns 27,659 shares of the company’s stock, valued at $2,799,367.39. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.50% of the company’s stock.
Emerson Electric Company Profile
Emerson Electric Co is a global technology and engineering company, which provides innovative solutions for customers in industrial, commercial and residential markets. It operates through the following business segments: Automation Solutions; Climate Technologies; and Tools and Home Products. The Automation Solutions segment offers products, integrated solutions, software and services which enable process, hybrid and discrete manufacturers to maximize production, protect personnel and the environment, reduce project costs, and optimize their energy efficiency and operating costs.
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