Emerson Electric Company (NYSE:EMR) Shares Bought by Viking Fund Management LLC
Viking Fund Management LLC raised its position in shares of Emerson Electric Company (NYSE:EMR) by 3.9% during the second quarter, Holdings Channel reports. The firm owned 53,000 shares of the industrial products company’s stock after buying an additional 2,000 shares during the period. Viking Fund Management LLC’s holdings in Emerson Electric were worth $3,160,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also modified their holdings of the company. Somerset Trust Co raised its position in shares of Emerson Electric by 2.2% in the first quarter. Somerset Trust Co now owns 21,828 shares of the industrial products company’s stock worth $1,306,000 after buying an additional 474 shares during the period. Benedict Financial Advisors Inc. raised its position in shares of Emerson Electric by 0.6% in the first quarter. Benedict Financial Advisors Inc. now owns 46,836 shares of the industrial products company’s stock worth $2,804,000 after buying an additional 262 shares during the period. Princeton Alpha Management LP acquired a new position in shares of Emerson Electric during the first quarter worth approximately $461,000. British Columbia Investment Management Corp raised its position in shares of Emerson Electric by 16.1% in the first quarter. British Columbia Investment Management Corp now owns 263,362 shares of the industrial products company’s stock worth $15,765,000 after buying an additional 36,566 shares during the period. Finally, Swarthmore Group Inc. acquired a new position in shares of Emerson Electric during the first quarter worth approximately $17,546,000. 68.92% of the stock is currently owned by institutional investors.
Emerson Electric Company (NYSE EMR) traded up 0.77% during trading on Friday, hitting $61.15. The company had a trading volume of 2,304,403 shares. The company has a market capitalization of $39.37 billion, a price-to-earnings ratio of 27.29 and a beta of 1.20. The firm has a 50-day moving average of $59.79 and a 200 day moving average of $59.74. Emerson Electric Company has a 12-month low of $49.22 and a 12-month high of $64.36.
Emerson Electric (NYSE:EMR) last released its earnings results on Tuesday, August 1st. The industrial products company reported $0.68 earnings per share for the quarter, hitting analysts’ consensus estimates 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% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.68 earnings per share. On average, equities research analysts forecast that Emerson Electric Company will post $2.61 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, September 11th. Stockholders of record on Friday, August 11th will be given a dividend of $0.48 per share. The ex-dividend date of this dividend is Wednesday, August 9th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 3.14%. Emerson Electric’s payout ratio is currently 85.33%.
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A number of research analysts have recently commented on EMR shares. Zacks Investment Research lowered Emerson Electric from a “buy” rating to a “hold” rating in a report on Friday, May 5th. BidaskClub raised Emerson Electric from a “sell” rating to a “hold” rating in a report on Friday, June 16th. JMP Securities started coverage on Emerson Electric in a report on Monday, June 19th. They set an “outperform” rating and a $70.00 price target on the stock. Royal Bank Of Canada reissued a “hold” rating and set a $58.00 price target on shares of Emerson Electric in a report on Tuesday, April 11th. Finally, Cowen and Company reissued a “hold” rating and set a $62.00 price target on shares of Emerson Electric in a report on Tuesday, April 25th. Three analysts have rated the stock with a sell rating, fourteen have issued a hold rating and three have given a buy rating to the company. Emerson Electric has an average rating of “Hold” and a consensus price target of $57.48.
About Emerson Electric
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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