Washington Trust Bank increased its position in Emerson Electric Company (NYSE:EMR) by 0.4% during the second quarter, Holdings Channel reports. The firm owned 4,040 shares of the industrial products company’s stock after buying an additional 16 shares during the period. Washington Trust Bank’s holdings in Emerson Electric were worth $241,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in Emerson Electric by 5.8% in the first quarter. Vanguard Group Inc. now owns 43,698,252 shares of the industrial products company’s stock worth $2,615,777,000 after buying an additional 2,404,844 shares during the period. Bank of New York Mellon Corp boosted its position in Emerson Electric by 2.3% in the first quarter. Bank of New York Mellon Corp now owns 14,552,526 shares of the industrial products company’s stock worth $871,114,000 after buying an additional 332,238 shares during the period. American International Group Inc. boosted its position in Emerson Electric by 0.6% in the first quarter. American International Group Inc. now owns 9,041,764 shares of the industrial products company’s stock worth $541,240,000 after buying an additional 53,444 shares during the period. American Century Companies Inc. boosted its position in Emerson Electric by 19.4% in the first quarter. American Century Companies Inc. now owns 4,338,862 shares of the industrial products company’s stock worth $259,724,000 after buying an additional 705,924 shares during the period. Finally, Legal & General Group Plc boosted its position in Emerson Electric by 5.5% in the first quarter. Legal & General Group Plc now owns 3,358,845 shares of the industrial products company’s stock worth $201,055,000 after buying an additional 174,816 shares during the period. 69.06% of the stock is owned by hedge funds and other institutional investors.
Emerson Electric Company (EMR) traded down 1.12% on Thursday, reaching $59.36. The company had a trading volume of 800,707 shares. The stock has a market capitalization of $37.99 billion, a P/E ratio of 26.49 and a beta of 1.20. The stock’s 50-day moving average price is $59.82 and its 200-day moving average price is $59.84. Emerson Electric Company has a 12-month low of $49.22 and a 12-month high of $64.36.
Emerson Electric (NYSE:EMR) last posted its quarterly earnings results on Tuesday, August 1st. The industrial products company reported $0.68 earnings per share for the quarter, hitting the consensus estimate of $0.68. The company had revenue of $4.04 billion during the quarter, compared to the consensus estimate of $3.99 billion. Emerson Electric had a return on equity of 22.32% and a net margin of 8.89%. The firm’s quarterly revenue was up 9.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.68 EPS. On average, equities research analysts anticipate that Emerson Electric Company will post $2.61 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, September 11th. Stockholders of record on Friday, August 11th will be paid a dividend of $0.48 per share. The ex-dividend date of this dividend is Wednesday, August 9th. This represents a $1.92 annualized dividend and a dividend yield of 3.20%. Emerson Electric’s payout ratio is 85.33%.
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A number of equities analysts have commented on EMR shares. TheStreet raised shares of Emerson Electric from a “c+” rating to a “b” rating in a research report on Thursday, May 4th. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $62.00 price objective (up from $61.00) on shares of Emerson Electric in a research report on Wednesday, August 2nd. Zacks Investment Research cut shares of Emerson Electric from a “buy” rating to a “hold” rating in a research report on Friday, May 5th. Cowen and Company reaffirmed a “hold” rating and set a $62.00 price objective on shares of Emerson Electric in a research report on Tuesday, April 25th. Finally, JMP Securities started coverage on shares of Emerson Electric in a research report on Monday, June 19th. They set an “outperform” rating and a $70.00 price objective for the company. Three analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and three have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $58.14.
Emerson Electric Company Profile
Emerson Electric Co is a diversified global manufacturing company, which provides solutions to customers by bringing technology and engineering together in the industrial, commercial and consumer markets around the world. The Company operates through four segments based on the nature of the products and services rendered: Process Management, Industrial Automation, Climate Technologies and Commercial & Residential Solutions.
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