First Manhattan CO. LLC. Has $1.29 Million Holdings in Emerson Electric Co. $EMR

Key Points

• First Manhattan CO. LLC. increased its stake in Emerson Electric Co. by 52.2%, owning a total of 11,785 shares valued at approximately $1.29 million at the end of the first quarter.
• Emerson Electric recently announced a quarterly dividend of $0.5275 per share, translating to an annual yield of 1.6%, with a dividend payout ratio of 45.38%.
• Emerson Electric's latest earnings report showed a 3.9% increase in quarterly revenue year-over-year, with an earnings per share (EPS) of $1.52 surpassing analyst expectations.

First Manhattan CO. LLC. boosted its position in shares of Emerson Electric Co. (NYSE:EMR - Free Report) by 52.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,785 shares of the industrial products company's stock after buying an additional 4,043 shares during the period. First Manhattan CO. LLC.'s holdings in Emerson Electric were worth $1,292,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Hohimer Wealth Management LLC boosted its stake in shares of Emerson Electric by 0.3% during the 1st quarter. Hohimer Wealth Management LLC now owns 27,963 shares of the industrial products company's stock worth $3,066,000 after acquiring an additional 95 shares in the last quarter. Clearstead Trust LLC boosted its position in Emerson Electric by 7.4% during the first quarter. Clearstead Trust LLC now owns 1,406 shares of the industrial products company's stock valued at $154,000 after purchasing an additional 97 shares during the last quarter. One Wealth Advisors LLC boosted its position in Emerson Electric by 5.7% during the first quarter. One Wealth Advisors LLC now owns 1,846 shares of the industrial products company's stock valued at $202,000 after purchasing an additional 99 shares during the last quarter. J. W. Coons Advisors LLC raised its holdings in Emerson Electric by 0.8% during the first quarter. J. W. Coons Advisors LLC now owns 13,000 shares of the industrial products company's stock valued at $1,425,000 after buying an additional 100 shares in the last quarter. Finally, Flagship Wealth Advisors LLC raised its holdings in Emerson Electric by 4.0% during the first quarter. Flagship Wealth Advisors LLC now owns 2,600 shares of the industrial products company's stock valued at $285,000 after buying an additional 100 shares in the last quarter. 74.30% of the stock is owned by institutional investors and hedge funds.

Emerson Electric Trading Down 0.4%

Shares of EMR traded down $0.56 during trading hours on Friday, reaching $132.54. The stock had a trading volume of 3,207,884 shares, compared to its average volume of 2,654,395. The company has a quick ratio of 0.63, a current ratio of 0.85 and a debt-to-equity ratio of 0.42. Emerson Electric Co. has a 52 week low of $90.06 and a 52 week high of $150.27. The firm has a 50-day moving average of $137.59 and a 200 day moving average of $122.39. The company has a market cap of $74.59 billion, a P/E ratio of 28.50, a P/E/G ratio of 2.58 and a beta of 1.30.

Emerson Electric (NYSE:EMR - Get Free Report) last announced its earnings results on Wednesday, August 6th. The industrial products company reported $1.52 earnings per share for the quarter, topping analysts' consensus estimates of $1.51 by $0.01. The firm had revenue of $4.55 billion during the quarter, compared to analyst estimates of $4.60 billion. Emerson Electric had a net margin of 14.92% and a return on equity of 14.34%. The company's revenue for the quarter was up 3.9% compared to the same quarter last year. During the same period in the prior year, the business earned $1.43 EPS. On average, sell-side analysts expect that Emerson Electric Co. will post 5.96 earnings per share for the current fiscal year.

Emerson Electric Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Friday, August 15th will be paid a dividend of $0.5275 per share. This represents a $2.11 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date is Friday, August 15th. Emerson Electric's dividend payout ratio is currently 45.38%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. TD Cowen upgraded Emerson Electric to a "strong-buy" rating in a research note on Tuesday, July 8th. Barclays raised Emerson Electric from an "underweight" rating to an "equal weight" rating and boosted their target price for the stock from $125.00 to $127.00 in a report on Thursday, August 7th. JPMorgan Chase & Co. upped their price objective on Emerson Electric from $113.00 to $133.00 and gave the stock a "neutral" rating in a report on Friday, May 16th. Citigroup upped their target price on shares of Emerson Electric from $146.00 to $165.00 and gave the company a "buy" rating in a research report on Monday, July 14th. Finally, Stephens upped their target price on shares of Emerson Electric from $130.00 to $145.00 and gave the company an "equal weight" rating in a research report on Wednesday, July 16th. Two analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $142.39.

Emerson Electric Company Profile

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.