Neuberger Berman Group LLC increased its position in Emerson Electric Co. (NYSE:EMR) by 9.0% in the second quarter, HoldingsChannel reports. The firm owned 1,171,486 shares of the industrial products company’s stock after purchasing an additional 96,254 shares during the quarter. Neuberger Berman Group LLC’s holdings in Emerson Electric were worth $111,306,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Wagner Wealth Management LLC purchased a new position in shares of Emerson Electric in the 1st quarter valued at approximately $25,000. Moisand Fitzgerald Tamayo LLC purchased a new position in shares of Emerson Electric in the 2nd quarter valued at approximately $28,000. Financial Insights Inc. purchased a new position in shares of Emerson Electric in the 2nd quarter valued at approximately $38,000. Robbins Farley LLC purchased a new position in shares of Emerson Electric in the 1st quarter valued at approximately $47,000. Finally, Joseph P. Lucia & Associates LLC purchased a new position in shares of Emerson Electric in the 2nd quarter valued at approximately $58,000. Institutional investors own 72.67% of the company’s stock.
A number of research analysts have recently commented on the company. Morgan Stanley lowered their target price on Emerson Electric from $106.00 to $102.00 and set an “equal weight” rating for the company in a research note on Thursday, October 7th. Credit Suisse Group raised their price objective on Emerson Electric from $103.00 to $108.00 and gave the company an “outperform” rating in a research report on Thursday, August 5th. Deutsche Bank Aktiengesellschaft raised their price objective on Emerson Electric from $103.00 to $111.00 and gave the company a “buy” rating in a research report on Wednesday, July 14th. Barclays raised their price objective on Emerson Electric from $91.00 to $94.00 and gave the company an “equal weight” rating in a research report on Thursday, July 8th. Finally, Wells Fargo & Company began coverage on Emerson Electric in a research report on Thursday, October 7th. They set an “equal weight” rating and a $99.00 price objective for the company. Three equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, Emerson Electric has a consensus rating of “Buy” and a consensus target price of $99.57.
Emerson Electric (NYSE:EMR) last issued its quarterly earnings data on Wednesday, August 4th. The industrial products company reported $1.09 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.98 by $0.11. Emerson Electric had a return on equity of 26.77% and a net margin of 13.20%. The company had revenue of $4.70 billion during the quarter, compared to analyst estimates of $4.58 billion. During the same quarter in the previous year, the company posted $0.80 earnings per share. Emerson Electric’s revenue was up 20.0% compared to the same quarter last year. Analysts expect that Emerson Electric Co. will post 4.08 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 10th. Investors of record on Friday, August 13th were issued a $0.505 dividend. This represents a $2.02 annualized dividend and a dividend yield of 2.20%. The ex-dividend date was Thursday, August 12th. Emerson Electric’s payout ratio is currently 58.38%.
In related news, VP Bell Katherine Button sold 12,850 shares of Emerson Electric stock in a transaction on Tuesday, August 10th. The stock was sold at an average price of $101.21, for a total transaction of $1,300,548.50. Following the transaction, the vice president now directly owns 27,659 shares in the company, valued at $2,799,367.39. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.50% of the company’s stock.
Emerson Electric Profile
Emerson Electric Co is a global technology and engineering company, which provides innovative solutions for customers in industrial, commercial and residential markets. It operates through the following business segments: Automation Solutions; Climate Technologies; and Tools and Home Products. The Automation Solutions segment offers products, integrated solutions, software and services which enable process, hybrid and discrete manufacturers to maximize production, protect personnel and the environment, reduce project costs, and optimize their energy efficiency and operating costs.
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