Delta Asset Management LLC TN boosted its holdings in Emerson Electric Co. (NYSE:EMR – Free Report) by 1.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 121,554 shares of the industrial products company’s stock after purchasing an additional 2,183 shares during the quarter. Emerson Electric makes up about 1.1% of Delta Asset Management LLC TN’s investment portfolio, making the stock its 26th largest holding. Delta Asset Management LLC TN’s holdings in Emerson Electric were worth $10,987,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently modified their holdings of EMR. Envestnet Asset Management Inc. increased its holdings in shares of Emerson Electric by 2.3% in the 1st quarter. Envestnet Asset Management Inc. now owns 1,040,964 shares of the industrial products company’s stock worth $90,710,000 after acquiring an additional 23,535 shares during the period. West Coast Financial LLC acquired a new stake in Emerson Electric in the 2nd quarter valued at approximately $206,000. Bailard Inc. raised its stake in Emerson Electric by 7.0% during the 2nd quarter. Bailard Inc. now owns 38,231 shares of the industrial products company’s stock valued at $3,456,000 after acquiring an additional 2,489 shares in the last quarter. DAVENPORT & Co LLC grew its stake in shares of Emerson Electric by 2.6% in the second quarter. DAVENPORT & Co LLC now owns 68,809 shares of the industrial products company’s stock worth $6,220,000 after purchasing an additional 1,751 shares in the last quarter. Finally, Sentry Investment Management LLC bought a new position in Emerson Electric in the 2nd quarter valued at about $365,000. 72.02% of the stock is owned by institutional investors and hedge funds.
Insider Buying and Selling
In related news, Director Arthur F. Golden acquired 3,000 shares of the company’s stock in a transaction dated Wednesday, November 8th. The shares were bought at an average price of $85.64 per share, for a total transaction of $256,920.00. Following the acquisition, the director now owns 97,504 shares in the company, valued at approximately $8,350,242.56. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, Director Arthur F. Golden acquired 3,000 shares of the firm’s stock in a transaction dated Wednesday, November 8th. The shares were bought at an average price of $85.64 per share, with a total value of $256,920.00. Following the acquisition, the director now owns 97,504 shares of the company’s stock, valued at $8,350,242.56. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Surendralal Lanca Karsanbhai bought 10,000 shares of the business’s stock in a transaction that occurred on Friday, November 17th. The stock was purchased at an average price of $88.20 per share, with a total value of $882,000.00. Following the completion of the purchase, the chief executive officer now directly owns 148,542 shares of the company’s stock, valued at approximately $13,101,404.40. The disclosure for this purchase can be found here. 0.33% of the stock is currently owned by insiders.
Emerson Electric Stock Down 0.3 %
Emerson Electric (NYSE:EMR – Get Free Report) last announced its earnings results on Tuesday, November 7th. The industrial products company reported $1.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.30 by ($0.01). The company had revenue of $4.09 billion for the quarter, compared to the consensus estimate of $4.20 billion. Emerson Electric had a return on equity of 11.78% and a net margin of 87.17%. The firm’s revenue for the quarter was up 5.1% compared to the same quarter last year. During the same period in the previous year, the company earned $1.53 EPS. As a group, analysts anticipate that Emerson Electric Co. will post 5.26 EPS for the current fiscal year.
Emerson Electric Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Monday, December 11th. Stockholders of record on Friday, November 17th will be issued a dividend of $0.525 per share. The ex-dividend date is Thursday, November 16th. This is a positive change from Emerson Electric’s previous quarterly dividend of $0.52. This represents a $2.10 dividend on an annualized basis and a dividend yield of 2.36%. Emerson Electric’s payout ratio is 9.08%.
Wall Street Analysts Forecast Growth
Several equities research analysts have commented on EMR shares. Wells Fargo & Company dropped their price target on shares of Emerson Electric from $110.00 to $105.00 in a research report on Monday, October 9th. Citigroup reduced their target price on shares of Emerson Electric from $112.00 to $109.00 and set a “buy” rating for the company in a report on Wednesday, November 8th. Mizuho increased their price objective on Emerson Electric from $90.00 to $95.00 and gave the company a “neutral” rating in a research report on Thursday, August 3rd. JPMorgan Chase & Co. raised Emerson Electric from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $83.00 to $107.00 in a research report on Tuesday, August 22nd. Finally, Royal Bank of Canada cut their price objective on Emerson Electric from $109.00 to $106.00 and set an “outperform” rating on the stock in a report on Wednesday, November 8th. Five research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $105.11.
Emerson Electric Company Profile
Emerson Electric Co, a technology and engineering company, provides various solutions for customers in industrial, commercial, and consumer markets in the Americas, Asia, the Middle East, Africa, and Europe. It operates in six segments: Final Control, Control Systems & Software, Measurement & Analytical, AspenTech, Discrete Automation, and Safety & Productivity.
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