Scotia Capital Inc. Raises Holdings in Emerson Electric Co. (NYSE:EMR)

Key Points

• Scotia Capital Inc. increased its stake in Emerson Electric Co. by 13.8%, acquiring an additional 58,390 shares, bringing its total ownership to 480,135 shares worth approximately $52.6 million.
• Emerson Electric reported a quarterly earnings per share (EPS) of $1.48, which exceeded analysts' expectations, along with a revenue of $4.43 billion, marking a year-over-year increase of 1.3%.
• The company also declared a quarterly dividend of $0.5275 per share, equating to an annual dividend yield of 1.5%.

Scotia Capital Inc. raised its stake in shares of Emerson Electric Co. (NYSE:EMR - Free Report) by 13.8% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 480,135 shares of the industrial products company's stock after acquiring an additional 58,390 shares during the period. Scotia Capital Inc. owned approximately 0.09% of Emerson Electric worth $52,642,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of EMR. Orion Capital Management LLC bought a new position in shares of Emerson Electric in the 4th quarter worth approximately $25,000. Vega Investment Solutions bought a new position in shares of Emerson Electric in the 4th quarter worth approximately $27,000. Ameriflex Group Inc. bought a new position in shares of Emerson Electric in the 4th quarter worth approximately $30,000. MJT & Associates Financial Advisory Group Inc. bought a new position in shares of Emerson Electric in the 1st quarter worth approximately $27,000. Finally, Inlight Wealth Management LLC bought a new position in shares of Emerson Electric in the 1st quarter worth approximately $28,000. Institutional investors own 74.30% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have commented on EMR. KeyCorp raised their target price on shares of Emerson Electric from $150.00 to $155.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 1st. Bank of America raised their target price on shares of Emerson Electric from $130.00 to $155.00 and gave the stock a "buy" rating in a research note on Wednesday, July 2nd. JPMorgan Chase & Co. raised their target price on shares of Emerson Electric from $113.00 to $133.00 and gave the stock a "neutral" rating in a research note on Friday, May 16th. Stephens raised their target price on shares of Emerson Electric from $130.00 to $145.00 and gave the stock an "equal weight" rating in a research note on Wednesday, July 16th. Finally, 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 research note on Thursday, May 8th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $142.28.

Emerson Electric Trading Down 1.9%

Shares of NYSE:EMR traded down $2.72 on Tuesday, hitting $139.91. 1,339,559 shares of the company's stock were exchanged, compared to its average volume of 3,076,937. Emerson Electric Co. has a 12 month low of $90.06 and a 12 month high of $150.27. The stock has a market capitalization of $78.70 billion, a price-to-earnings ratio of 33.53, a price-to-earnings-growth ratio of 2.75 and a beta of 1.32. The business's 50 day simple moving average is $134.13 and its two-hundred day simple moving average is $121.41. 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 released its earnings results on Wednesday, May 7th. The industrial products company reported $1.48 earnings per share for the quarter, topping the consensus estimate of $1.41 by $0.07. The business had revenue of $4.43 billion during the quarter, compared to the consensus estimate of $4.42 billion. Emerson Electric had a return on equity of 13.22% and a net margin of 13.60%. The business's revenue for the quarter was up 1.3% compared to the same quarter last year. During the same period last year, the company earned $1.36 earnings per share. Analysts anticipate that Emerson Electric Co. will post 5.96 EPS for the current fiscal year.

Emerson Electric Dividend Announcement

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

Insider Buying and Selling at Emerson Electric

In other Emerson Electric news, CEO Surendralal Lanca Karsanbhai sold 16,698 shares of the business's stock in a transaction dated 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 completion of the transaction, the chief executive officer directly owned 164,957 shares in the company, valued at approximately $18,694,576.81. The trade was a 9.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.50% of the stock is owned by insiders.

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.