Cerity Partners LLC lifted its position in Emerson Electric Co. (NYSE:EMR - Free Report) by 6.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 765,685 shares of the industrial products company's stock after acquiring an additional 45,938 shares during the period. Cerity Partners LLC owned about 0.14% of Emerson Electric worth $83,950,000 as of its most recent SEC filing.
Several other institutional investors have also made changes to their positions in the company. Telos Capital Management Inc. increased its position in shares of Emerson Electric by 10.7% in the first quarter. Telos Capital Management Inc. now owns 8,800 shares of the industrial products company's stock worth $965,000 after acquiring an additional 847 shares in the last quarter. Alps Advisors Inc. purchased a new position in shares of Emerson Electric in the first quarter worth approximately $346,000. Allworth Financial LP increased its position in shares of Emerson Electric by 2.3% in the first quarter. Allworth Financial LP now owns 20,739 shares of the industrial products company's stock worth $2,179,000 after acquiring an additional 459 shares in the last quarter. Stonebrook Private Inc. increased its position in shares of Emerson Electric by 8.0% in the first quarter. Stonebrook Private Inc. now owns 1,877 shares of the industrial products company's stock worth $206,000 after acquiring an additional 139 shares in the last quarter. Finally, Leavell Investment Management Inc. boosted its holdings in shares of Emerson Electric by 1.0% during the first quarter. Leavell Investment Management Inc. now owns 42,724 shares of the industrial products company's stock worth $4,684,000 after purchasing an additional 433 shares during the period. 74.30% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
Several analysts recently commented on the stock. JPMorgan Chase & Co. raised their price target on shares of Emerson Electric from $113.00 to $133.00 and gave the stock a "neutral" rating in a report on Friday, May 16th. Royal Bank Of Canada raised their price target on shares of Emerson Electric from $123.00 to $124.00 and gave the stock an "outperform" rating in a report on Thursday, May 8th. Bank of America raised their price target on shares of Emerson Electric from $130.00 to $155.00 and gave the stock a "buy" rating in a report on Wednesday, July 2nd. Robert W. Baird decreased their price target on shares of Emerson Electric from $140.00 to $130.00 and set a "neutral" rating for the company in a report on Thursday, May 8th. Finally, KeyCorp lifted their target price on shares of Emerson Electric from $150.00 to $155.00 and gave the company an "overweight" rating in a research note on Tuesday, July 1st. Two research analysts have rated the stock with a sell rating, four have given a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $139.83.
View Our Latest Report on Emerson Electric
Emerson Electric Trading Down 0.4%
Shares of Emerson Electric stock opened at $140.07 on Friday. The firm has a market capitalization of $78.79 billion, a PE ratio of 33.51, a price-to-earnings-growth ratio of 2.73 and a beta of 1.29. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.80 and a quick ratio of 0.59. The company's fifty day moving average price is $125.11 and its two-hundred day moving average price is $119.00. Emerson Electric Co. has a 52-week low of $90.06 and a 52-week high of $142.32.
Emerson Electric (NYSE:EMR - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The industrial products company reported $1.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.41 by $0.07. Emerson Electric had a net margin of 13.60% and a return on equity of 13.22%. The firm had revenue of $4.43 billion for the quarter, compared to analyst estimates of $4.42 billion. During the same quarter in the previous year, the firm posted $1.36 EPS. The business's revenue for the quarter was up 1.3% on a year-over-year basis. On average, analysts expect that Emerson Electric Co. will post 5.96 EPS for the current year.
Emerson Electric Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Friday, May 16th were paid a $0.5275 dividend. The ex-dividend date of this dividend was Friday, May 16th. This represents a $2.11 annualized dividend and a dividend yield of 1.51%. Emerson Electric's dividend payout ratio is presently 50.48%.
Insider Activity at Emerson Electric
In other news, CEO Surendralal Lanca Karsanbhai sold 16,698 shares of the business's stock in a transaction on Thursday, May 8th. The shares were sold at an average price of $113.33, for a total value of $1,892,384.34. Following the sale, the chief executive officer owned 164,957 shares in the company, valued at approximately $18,694,576.81. The trade was a 9.19% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.50% of the company's stock.
Emerson Electric Profile
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Free Report)
Emerson Electric Co, a technology and software 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.
See Also
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