United Services Automobile Association lowered its position in Emerson Electric Company (NYSE:EMR) by 2.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 598,022 shares of the industrial products company’s stock after selling 13,738 shares during the period. United Services Automobile Association owned approximately 0.09% of Emerson Electric worth $35,798,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also modified their holdings of the company. Macquarie Group Ltd. raised its position in shares of Emerson Electric by 33.2% in the fourth quarter. Macquarie Group Ltd. now owns 35,300 shares of the industrial products company’s stock worth $1,968,000 after buying an additional 8,800 shares in the last quarter. Beese Fulmer Investment Management Inc. increased its stake in Emerson Electric by 4.8% in the first quarter. Beese Fulmer Investment Management Inc. now owns 49,161 shares of the industrial products company’s stock worth $2,943,000 after buying an additional 2,254 shares during the last quarter. Howland Capital Management LLC increased its stake in Emerson Electric by 0.4% in the first quarter. Howland Capital Management LLC now owns 15,982 shares of the industrial products company’s stock worth $957,000 after buying an additional 66 shares during the last quarter. Farmers & Merchants Investments Inc. increased its stake in Emerson Electric by 9.1% in the first quarter. Farmers & Merchants Investments Inc. now owns 71,474 shares of the industrial products company’s stock worth $4,278,000 after buying an additional 5,934 shares during the last quarter. Finally, Benson Investment Management Company Inc. increased its stake in Emerson Electric by 3.6% in the first quarter. Benson Investment Management Company Inc. now owns 37,950 shares of the industrial products company’s stock worth $2,272,000 after buying an additional 1,315 shares during the last quarter. 69.42% of the stock is currently owned by institutional investors.
Shares of Emerson Electric Company (NYSE EMR) traded up 0.93% during mid-day trading on Friday, reaching $58.56. The company had a trading volume of 1,239,543 shares. The company’s 50-day moving average is $59.67 and its 200 day moving average is $59.78. The stock has a market capitalization of $37.48 billion, a P/E ratio of 26.13 and a beta of 1.20. Emerson Electric Company has a 52-week low of $49.22 and a 52-week high of $64.36.
Emerson Electric (NYSE:EMR) last announced its quarterly earnings results on Tuesday, August 1st. The industrial products company reported $0.68 EPS for the quarter, meeting analysts’ consensus estimates of $0.68. The firm had revenue of $4.04 billion during the quarter, compared to analysts’ expectations 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 for the quarter was up 9.9% compared to the same quarter last year. During the same quarter last year, the company posted $0.68 earnings per share. Analysts anticipate that Emerson Electric Company will post $2.61 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, September 11th. Shareholders of record on Friday, August 11th will be paid a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 3.28%. The ex-dividend date is Wednesday, August 9th. Emerson Electric’s dividend payout ratio is currently 85.33%.
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A number of analysts have recently commented on EMR shares. TheStreet upgraded Emerson Electric from a “c+” rating to a “b” rating in a report on Thursday, May 4th. Stifel Nicolaus restated a “buy” rating and set a $68.00 price objective on shares of Emerson Electric in a report on Wednesday, July 19th. Royal Bank Of Canada restated a “hold” rating and set a $62.00 price objective on shares of Emerson Electric in a report on Tuesday, June 6th. Zacks Investment Research downgraded Emerson Electric from a “buy” rating to a “hold” rating in a report on Friday, May 5th. Finally, Cowen and Company restated a “hold” rating and set a $62.00 price objective on shares of Emerson Electric in a report on Tuesday, May 2nd. Three equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and three have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $59.71.
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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