Welch Investments LLC Has $4.42 Million Holdings in Emerson Electric Company (EMR)
Welch Investments LLC grew its stake in Emerson Electric Company (NYSE:EMR) by 4.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 74,204 shares of the industrial products company’s stock after buying an additional 3,332 shares during the quarter. Emerson Electric makes up 3.3% of Welch Investments LLC’s portfolio, making the stock its 12th biggest holding. Welch Investments LLC’s holdings in Emerson Electric were worth $4,424,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds also recently modified their holdings of the company. Central Bank & Trust Co. increased its position in 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 worth $126,000 after buying an additional 500 shares in the last quarter. Oppenheimer Asset Management Inc. purchased a new stake in Emerson Electric in the first quarter worth about $127,000. Harbour Capital Advisors LLC purchased a new stake in Emerson Electric in the first quarter worth about $147,000. Guardian Life Insurance Co. of America increased its position in Emerson Electric by 1.1% in the first quarter. Guardian Life Insurance Co. of America now owns 2,491 shares of the industrial products company’s stock worth $149,000 after buying an additional 28 shares in the last quarter. Finally, Perkins Coie Trust Co purchased a new stake in Emerson Electric in the second quarter worth about $150,000. Institutional investors and hedge funds own 70.03% of the company’s stock.
In other news, insider Robert T. Sharp sold 2,000 shares of the company’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 completion of the sale, the insider now directly owns 64,290 shares in the company, valued at $3,792,467.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.79% of the stock is currently owned by insiders.
Emerson Electric Company (EMR) opened at 63.44 on Friday. The firm’s 50-day moving average price is $59.86 and its 200 day moving average price is $59.57. Emerson Electric Company has a 12-month low of $49.22 and a 12-month high of $64.36. The stock has a market cap of $40.60 billion, a PE ratio of 28.31 and a beta of 1.18.
Emerson Electric (NYSE:EMR) last posted its quarterly earnings data on Tuesday, August 1st. The industrial products company reported $0.68 EPS for the quarter, hitting the Thomson Reuters’ 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 during the quarter, compared to analyst estimates of $3.99 billion. During the same period in the previous year, the business earned $0.68 EPS. Emerson Electric’s quarterly revenue was up 9.9% on a year-over-year basis. 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. Shareholders of record on Friday, August 11th were paid a dividend of $0.48 per share. The ex-dividend date was Wednesday, August 9th. This represents a $1.92 annualized dividend and a yield of 3.01%. Emerson Electric’s dividend payout ratio (DPR) is currently 85.33%.
Several analysts recently issued reports on EMR shares. JMP Securities started 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. BidaskClub upgraded Emerson Electric from a “sell” rating to a “hold” rating in a research report on Friday, June 16th. Royal Bank Of Canada reiterated a “sector perform” rating and set a $62.00 target price (up previously from $61.00) on shares of Emerson Electric in a research report on Wednesday, August 2nd. Stifel Nicolaus reiterated a “buy” rating and set a $68.00 target price on shares of Emerson Electric in a research report on Wednesday, July 19th. Finally, Morgan Stanley reiterated an “overweight” rating on shares of Emerson Electric in a research report on Tuesday, July 11th. Three research analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have given a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $60.52.
Emerson Electric Company Profile
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.
Receive News & Ratings for Emerson Electric Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Emerson Electric Company and related companies with MarketBeat.com's FREE daily email newsletter.