Goelzer Investment Management Inc. raised its position in shares of Emerson Electric Co. (NYSE:EMR) by 28.9% in the first quarter, HoldingsChannel.com reports. The fund owned 9,607 shares of the industrial products company’s stock after buying an additional 2,152 shares during the quarter. Goelzer Investment Management Inc.’s holdings in Emerson Electric were worth $658,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds have also recently added to or reduced their stakes in the company. Massey Quick Simon & CO. LLC acquired a new position in Emerson Electric in the fourth quarter worth about $30,000. Harel Insurance Investments & Financial Services Ltd. bought a new position in Emerson Electric in the first quarter valued at approximately $34,000. Laurel Wealth Advisors LLC bought a new position in Emerson Electric in the fourth quarter valued at approximately $36,000. Legacy Advisors LLC bought a new position in Emerson Electric in the first quarter valued at approximately $41,000. Finally, Buffington Mohr McNeal bought a new position in Emerson Electric in the first quarter valued at approximately $41,000. Institutional investors own 73.06% of the company’s stock.
Several equities research analysts have weighed in on the stock. Zacks Investment Research lowered shares of Emerson Electric from a “buy” rating to a “hold” rating in a report on Tuesday, April 9th. Cowen reiterated a “buy” rating and issued a $81.00 target price on shares of Emerson Electric in a report on Tuesday, February 5th. Morgan Stanley set a $77.00 target price on shares of Emerson Electric and gave the stock a “buy” rating in a report on Friday, February 8th. Credit Suisse Group increased their target price on shares of Emerson Electric from $70.00 to $75.00 and gave the stock an “outperform” rating in a report on Wednesday, February 6th. Finally, Citigroup upgraded shares of Emerson Electric from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $67.00 to $81.00 in a report on Monday, April 8th. Nine investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $76.41.
Emerson Electric (NYSE:EMR) last issued its quarterly earnings results on Tuesday, May 7th. The industrial products company reported $0.84 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.84. Emerson Electric had a net margin of 12.81% and a return on equity of 24.63%. The firm had revenue of $4.57 billion for the quarter, compared to analyst estimates of $4.64 billion. During the same period in the previous year, the business earned $0.76 EPS. The company’s revenue was up 7.6% compared to the same quarter last year. Research analysts expect that Emerson Electric Co. will post 3.65 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Friday, May 17th will be issued a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a dividend yield of 3.02%. The ex-dividend date is Thursday, May 16th. Emerson Electric’s payout ratio is 57.99%.
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Emerson Electric Company Profile
Emerson Electric Co, a technology and engineering company, provides various solutions to industrial, commercial, and consumer markets worldwide. The company's Automation Solutions segment offers products and integrated solutions, including measurement and analytical instrumentation; valves, actuators, and regulators; industrial solutions; and process control systems and solutions.
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