City Holding Co. Acquires 6,120 Shares of Emerson Electric Company (EMR)
City Holding Co. raised its holdings in shares of Emerson Electric Company (NYSE:EMR) by 17.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 41,728 shares of the industrial products company’s stock after purchasing an additional 6,120 shares during the quarter. City Holding Co.’s holdings in Emerson Electric were worth $2,487,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Bridgewater Associates LP purchased a new stake in Emerson Electric during the first quarter valued at about $351,000. Vanguard Group Inc. lifted its holdings in Emerson Electric by 5.8% during the first quarter. Vanguard Group Inc. now owns 43,698,252 shares of the industrial products company’s stock valued at $2,615,777,000 after purchasing an additional 2,404,844 shares during the last quarter. Benedict Financial Advisors Inc. lifted its holdings in Emerson Electric by 0.6% during the first quarter. Benedict Financial Advisors Inc. now owns 46,836 shares of the industrial products company’s stock valued at $2,804,000 after purchasing an additional 262 shares during the last quarter. TIAA CREF Investment Management LLC lifted its holdings in Emerson Electric by 18.4% during the first quarter. TIAA CREF Investment Management LLC now owns 1,299,564 shares of the industrial products company’s stock valued at $77,792,000 after purchasing an additional 201,677 shares during the last quarter. Finally, WINTON GROUP Ltd lifted its holdings in Emerson Electric by 525.0% during the first quarter. WINTON GROUP Ltd now owns 246,278 shares of the industrial products company’s stock valued at $13,425,000 after purchasing an additional 206,871 shares during the last quarter. 70.03% of the stock is currently owned by institutional investors and hedge funds.
Shares of Emerson Electric Company (EMR) traded up 0.69% during midday trading on Monday, reaching $62.78. 843,466 shares of the company were exchanged. The stock has a market capitalization of $40.18 billion, a P/E ratio of 28.01 and a beta of 1.18. Emerson Electric Company has a 12-month low of $49.22 and a 12-month high of $64.36. The company has a 50 day moving average price of $59.65 and a 200-day moving average price of $59.54.
Emerson Electric (NYSE:EMR) last posted its quarterly earnings results on Tuesday, August 1st. The industrial products company reported $0.68 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.68. Emerson Electric had a return on equity of 22.32% and a net margin of 8.89%. The company had revenue of $4.04 billion for the quarter, compared to analysts’ expectations of $3.99 billion. During the same period in the previous year, the firm earned $0.68 EPS. The firm’s revenue was up 9.9% compared to the same quarter last year. On average, analysts forecast that Emerson Electric Company will post $2.61 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Monday, September 11th. Investors of record on Friday, August 11th were issued a $0.48 dividend. The ex-dividend date was Wednesday, August 9th. This represents a $1.92 dividend on an annualized basis and a yield of 3.08%. Emerson Electric’s dividend payout ratio is presently 85.33%.
In related news, insider Robert T. Sharp sold 2,000 shares of the business’s stock in a transaction that occurred on Thursday, August 31st. The stock was sold at an average price of $58.99, for a total value of $117,980.00. Following the transaction, the insider now directly owns 64,290 shares of the company’s stock, valued at approximately $3,792,467.10. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.79% of the stock is currently owned by insiders.
Several research firms have commented on EMR. JMP Securities began coverage on shares of Emerson Electric in a report on Monday, June 19th. They set an “outperform” rating and a $70.00 price objective on the stock. BidaskClub raised shares of Emerson Electric from a “sell” rating to a “hold” rating in a report on Friday, June 16th. Royal Bank Of Canada reissued 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. Stifel Nicolaus reissued 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 reissued an “overweight” rating on shares of Emerson Electric in a report on Tuesday, July 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 stock. The stock currently has an average rating of “Hold” and a consensus target price of $60.52.
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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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