Highwater Wealth Management LLC Increases Stake in Emerson Electric Company (EMR)
Highwater Wealth Management LLC grew its position in Emerson Electric Company (NYSE:EMR) by 11.1% in the second quarter, according to its most recent filing with the SEC. The fund owned 5,263 shares of the industrial products company’s stock after acquiring an additional 525 shares during the period. Emerson Electric accounts for approximately 0.8% of Highwater Wealth Management LLC’s investment portfolio, making the stock its 28th biggest position. Highwater Wealth Management LLC’s holdings in Emerson Electric were worth $314,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently made changes to their positions in EMR. Central Bank & Trust Co. lifted its stake in shares of Emerson Electric by 31.3% in the 1st quarter. Central Bank & Trust Co. now owns 2,100 shares of the industrial products company’s stock valued at $126,000 after acquiring an additional 500 shares during the last quarter. Oppenheimer Asset Management Inc. bought a new position in shares of Emerson Electric in the 1st quarter valued at $127,000. Harbour Capital Advisors LLC bought a new position in shares of Emerson Electric in the 1st quarter valued at $147,000. Guardian Life Insurance Co. of America lifted its stake in shares of Emerson Electric by 1.1% in the 1st quarter. Guardian Life Insurance Co. of America now owns 2,491 shares of the industrial products company’s stock valued at $149,000 after acquiring an additional 28 shares during the last quarter. Finally, Milestone Group Inc. bought a new position in shares of Emerson Electric in the 1st quarter valued at $201,000. Institutional investors own 70.19% of the company’s stock.
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Shares of Emerson Electric Company (EMR) traded up 0.74% during mid-day trading on Friday, reaching $62.35. The company’s stock had a trading volume of 4,441,677 shares. The company’s 50-day moving average is $59.65 and its 200 day moving average is $59.54. Emerson Electric Company has a 12 month low of $49.22 and a 12 month high of $64.36. The firm has a market cap of $39.91 billion, a price-to-earnings ratio of 27.82 and a beta of 1.18.
Emerson Electric (NYSE:EMR) last issued its quarterly earnings data on Tuesday, August 1st. The industrial products company reported $0.68 EPS for the quarter, meeting the consensus estimate of $0.68. The firm had revenue of $4.04 billion during 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 company’s quarterly revenue was up 9.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.68 earnings per share. On average, equities analysts anticipate that Emerson Electric Company will post $2.61 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, September 11th. Stockholders of record on Friday, August 11th were paid a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 3.08%. The ex-dividend date was Wednesday, August 9th. Emerson Electric’s dividend payout ratio (DPR) is 85.33%.
In other news, insider Robert T. Sharp sold 2,000 shares of the company’s stock in a transaction dated Thursday, August 31st. The shares were sold at an average price of $58.99, for a total transaction of $117,980.00. Following the completion of the transaction, the insider now directly owns 64,290 shares of the company’s stock, valued at $3,792,467.10. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.79% of the company’s stock.
A number of research analysts have recently commented on the company. BidaskClub cut Emerson Electric from a “hold” rating to a “sell” rating in a research note on Friday, June 9th. Stifel Nicolaus reaffirmed a “buy” rating and set a $68.00 target price on shares of Emerson Electric in a research report on Wednesday, July 19th. Morgan Stanley reaffirmed an “overweight” rating on shares of Emerson Electric in a research report on Tuesday, July 11th. JMP Securities assumed coverage on Emerson Electric in a research report on Monday, June 19th. They set an “outperform” rating and a $70.00 target price for the company. Finally, Berenberg Bank reaffirmed a “sell” rating and set a $53.00 target price on shares of Emerson Electric in a research report on Friday, August 11th. Three equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and three have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $60.52.
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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