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Empirical Financial Services LLC d.b.a. Empirical Wealth Management Purchases 73,107 Shares of Emerson Electric Co. (NYSE:EMR)

Emerson Electric logo with Industrials background

Key Points

  • Empirical Wealth Management significantly increased its stake in Emerson Electric Co. by 1,729.1% in the first quarter, holding a total of 77,335 shares valued at $8.48 million.
  • Emerson Electric reported earnings of $1.48 per share for the latest quarter, beating estimates, with revenue of $4.43 billion showing a year-over-year increase of 1.3%.
  • The company declared a quarterly dividend of $0.5275 per share, representing an annualized dividend yield of 1.44%.
  • MarketBeat previews top five stocks to own in September.

Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its stake in shares of Emerson Electric Co. (NYSE:EMR - Free Report) by 1,729.1% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 77,335 shares of the industrial products company's stock after acquiring an additional 73,107 shares during the quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management's holdings in Emerson Electric were worth $8,479,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in EMR. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its stake in Emerson Electric by 3,866.2% in the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 3,022,517 shares of the industrial products company's stock valued at $374,581,000 after acquiring an additional 2,946,310 shares during the last quarter. Pacer Advisors Inc. boosted its position in shares of Emerson Electric by 4,583.7% in the 1st quarter. Pacer Advisors Inc. now owns 2,185,049 shares of the industrial products company's stock worth $239,569,000 after purchasing an additional 2,138,397 shares during the last quarter. Massachusetts Financial Services Co. MA increased its holdings in Emerson Electric by 210.8% in the first quarter. Massachusetts Financial Services Co. MA now owns 1,966,453 shares of the industrial products company's stock valued at $215,602,000 after purchasing an additional 1,333,839 shares during the last quarter. GAMMA Investing LLC lifted its stake in Emerson Electric by 12,707.7% in the first quarter. GAMMA Investing LLC now owns 1,126,441 shares of the industrial products company's stock valued at $123,503,000 after buying an additional 1,117,646 shares during the period. Finally, Lazard Asset Management LLC boosted its holdings in Emerson Electric by 230,061.8% during the fourth quarter. Lazard Asset Management LLC now owns 819,376 shares of the industrial products company's stock worth $101,545,000 after buying an additional 819,020 shares during the last quarter. Institutional investors and hedge funds own 74.30% of the company's stock.

Insiders Place Their Bets

In other Emerson Electric news, CEO Surendralal Lanca Karsanbhai sold 16,698 shares of the stock in a transaction on Thursday, May 8th. The stock was sold at an average price of $113.33, for a total transaction of $1,892,384.34. Following the transaction, the chief executive officer owned 164,957 shares in the company, valued at $18,694,576.81. This trade represents a 9.19% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.50% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on EMR. KeyCorp upped their price target on Emerson Electric from $150.00 to $155.00 and gave the company an "overweight" rating in a research note on Tuesday, July 1st. Wall Street Zen upgraded shares of Emerson Electric from a "hold" rating to a "buy" rating in a report on Friday, May 9th. Citigroup boosted their price target on shares of Emerson Electric from $146.00 to $165.00 and gave the company a "buy" rating in a report on Monday, July 14th. Bank of America raised their price objective on Emerson Electric from $130.00 to $155.00 and gave the stock a "buy" rating in a research note on Wednesday, July 2nd. Finally, JPMorgan Chase & Co. boosted their target price on Emerson Electric from $113.00 to $133.00 and gave the company a "neutral" rating in a research note on Friday, May 16th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, Emerson Electric currently has a consensus rating of "Moderate Buy" and an average price target of $142.28.

View Our Latest Report on EMR

Emerson Electric Stock Performance

Shares of EMR stock traded down $3.83 on Friday, reaching $141.68. The stock had a trading volume of 4,078,731 shares, compared to its average volume of 2,776,646. Emerson Electric Co. has a 12 month low of $90.06 and a 12 month high of $150.27. The firm has a market capitalization of $79.70 billion, a price-to-earnings ratio of 24.57, a P/E/G ratio of 2.75 and a beta of 1.32. The firm's 50-day moving average is $133.64 and its two-hundred day moving average is $121.30. The company has a quick ratio of 0.59, a current ratio of 0.80 and a debt-to-equity ratio of 0.42.

Emerson Electric (NYSE:EMR - Get Free Report) last issued its earnings results on Wednesday, May 7th. The industrial products company reported $1.48 EPS for the quarter, topping the consensus estimate of $1.41 by $0.07. Emerson Electric had a return on equity of 13.22% and a net margin of 13.60%. The company had revenue of $4.43 billion during the quarter, compared to the consensus estimate of $4.42 billion. During the same period in the previous year, the company posted $1.36 EPS. The firm's revenue for the quarter was up 1.3% compared to the same quarter last year. On average, research analysts expect that Emerson Electric Co. will post 5.96 EPS for the current fiscal year.

Emerson Electric Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Friday, May 16th were issued a dividend of $0.5275 per share. 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 dividend payout ratio (DPR) is presently 50.48%.

Emerson Electric Company Profile

(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.

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Institutional Ownership by Quarter for Emerson Electric (NYSE:EMR)

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