Arizona State Retirement System Buys 900 Shares of Emerson Electric Company (NYSE:EMR)
Arizona State Retirement System increased its stake in shares of Emerson Electric Company (NYSE:EMR) by 0.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 213,233 shares of the industrial products company’s stock after buying an additional 900 shares during the period. Arizona State Retirement System’s holdings in Emerson Electric were worth $12,764,000 as of its most recent filing with the SEC.
A number of other hedge funds also recently made changes to their positions in EMR. First Command Financial Services Inc. increased its stake in shares of Emerson Electric by 18.9% in the first quarter. First Command Financial Services Inc. now owns 1,935 shares of the industrial products company’s stock valued at $116,000 after buying an additional 307 shares in the last quarter. Central Bank & Trust Co. increased its stake in shares of Emerson Electric by 31.3% in the first quarter. Central Bank & Trust Co. now owns 2,100 shares of the industrial products company’s stock valued at $126,000 after buying an additional 500 shares in the last quarter. Milestone Group Inc. bought a new stake in shares of Emerson Electric during the first quarter valued at about $201,000. Wedgewood Investors Inc. PA bought a new stake in shares of Emerson Electric during the first quarter valued at about $204,000. Finally, Garrison Bradford & Associates Inc. bought a new stake in shares of Emerson Electric during the first quarter valued at about $204,000. Hedge funds and other institutional investors own 69.06% of the company’s stock.
Emerson Electric Company (EMR) opened at 61.15 on Monday. The stock’s 50 day moving average is $59.79 and its 200 day moving average is $59.74. Emerson Electric Company has a 12 month low of $49.22 and a 12 month high of $64.36. The company has a market cap of $39.37 billion, a PE ratio of 27.29 and a beta of 1.20.
Emerson Electric (NYSE:EMR) last announced its earnings results on Tuesday, August 1st. The industrial products company reported $0.68 EPS for the quarter, hitting the consensus estimate of $0.68. The firm had revenue of $4.04 billion for the quarter, compared to the consensus estimate of $3.99 billion. Emerson Electric had a net margin of 8.89% and a return on equity of 22.32%. The business’s quarterly revenue was up 9.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.68 EPS. Equities analysts predict 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. Investors of record on Friday, August 11th will be issued a $0.48 dividend. The ex-dividend date is Wednesday, August 9th. This represents a $1.92 annualized dividend and a yield of 3.14%. Emerson Electric’s dividend payout ratio (DPR) is presently 85.33%.
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Several brokerages recently issued reports on EMR. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $62.00 price target (up from $61.00) on shares of Emerson Electric in a report on Wednesday, August 2nd. BidaskClub downgraded Emerson Electric from a “hold” rating to a “sell” rating in a report on Friday, July 28th. Cowen and Company reiterated a “hold” rating and issued a $62.00 price target on shares of Emerson Electric in a report on Tuesday, April 25th. Stifel Nicolaus reiterated a “buy” rating and issued a $68.00 price target on shares of Emerson Electric in a report on Wednesday, July 19th. Finally, Morgan Stanley reiterated an “overweight” rating on shares of Emerson Electric in a report on Tuesday, July 11th. Three research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and three have assigned a buy rating to the company. Emerson Electric has an average rating of “Hold” and an average 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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