Mackenzie Financial Corp Has $87.58 Million Stock Holdings in Emerson Electric Co. (NYSE:EMR)

Key Points

• Mackenzie Financial Corp significantly increased its stake in Emerson Electric Co. by 1,053.8%, acquiring 729,523 shares to own approximately 0.14% of the company valued at $87.58 million.
• Emerson Electric reported $1.48 earnings per share for the latest quarter, exceeding analysts' expectations, and had a revenue of $4.43 billion, marking a 1.3% increase from the previous year.
• The recently declared quarterly dividend of $0.5275 per share equates to an annualized rate of $2.11 with a yield of 1.43%.

Mackenzie Financial Corp raised its stake in shares of Emerson Electric Co. (NYSE:EMR - Free Report) by 1,053.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 798,748 shares of the industrial products company's stock after buying an additional 729,523 shares during the period. Mackenzie Financial Corp owned approximately 0.14% of Emerson Electric worth $87,575,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of EMR. Orion Capital Management LLC acquired a new position in shares of Emerson Electric in the 4th quarter worth approximately $25,000. Vega Investment Solutions acquired a new position in shares of Emerson Electric in the 4th quarter worth approximately $27,000. Inlight Wealth Management LLC acquired a new position in shares of Emerson Electric in the 1st quarter worth approximately $28,000. Fourth Dimension Wealth LLC boosted its holdings in shares of Emerson Electric by 145.3% in the first quarter. Fourth Dimension Wealth LLC now owns 260 shares of the industrial products company's stock worth $29,000 after buying an additional 154 shares during the period. Finally, Ameriflex Group Inc. acquired a new position in shares of Emerson Electric in the fourth quarter worth about $30,000. Institutional investors and hedge funds own 74.30% of the company's stock.

Insider Transactions 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. 0.50% of the stock is owned by company insiders.

Emerson Electric Stock Performance

EMR stock traded down $4.23 on Friday, reaching $141.28. 1,960,323 shares of the company were exchanged, compared to its average volume of 3,068,606. Emerson Electric Co. has a 12 month low of $90.06 and a 12 month high of $150.27. The stock's fifty day moving average price is $133.17 and its 200 day moving average price is $121.15. The firm has a market capitalization of $79.47 billion, a PE ratio of 33.80, a PEG ratio of 2.83 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.

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. The firm had revenue of $4.43 billion for the quarter, compared to analyst estimates of $4.42 billion. Emerson Electric had a net margin of 13.60% and a return on equity of 13.22%. The business's revenue for the quarter was up 1.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.36 EPS. On average, research analysts anticipate that Emerson Electric Co. will post 5.96 EPS for the current fiscal year.

Emerson Electric Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Friday, May 16th were issued a $0.5275 dividend. This represents a $2.11 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend was Friday, May 16th. Emerson Electric's payout ratio is 50.48%.

Wall Street Analyst Weigh In

Several research analysts have commented on EMR shares. Royal Bank Of Canada raised their target price 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. KeyCorp raised their price target on shares of Emerson Electric from $150.00 to $155.00 and gave the stock an "overweight" rating in a report on Tuesday, July 1st. Barclays raised their price target on shares of Emerson Electric from $118.00 to $125.00 and gave the stock an "underweight" rating in a report on Wednesday, July 9th. Wall Street Zen upgraded shares of Emerson Electric from a "hold" rating to a "buy" rating in a report on Friday, May 9th. Finally, 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. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Emerson Electric currently has a consensus rating of "Moderate Buy" and an average price target of $142.28.

About Emerson Electric

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.