Coastline Trust Co Continues to Hold Holdings in Emerson Electric Company (EMR)
Coastline Trust Co maintained its position in shares of Emerson Electric Company (NYSE:EMR) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 35,241 shares of the industrial products company’s stock at the close of the 2nd quarter. Coastline Trust Co’s holdings in Emerson Electric were worth $2,101,000 at the end of the most recent quarter.
Other institutional investors also recently added to or reduced their stakes in the company. Oppenheimer Asset Management Inc. purchased a new stake in Emerson Electric in the 1st quarter worth approximately $127,000. AT Bancorp purchased a new stake in Emerson Electric in the 2nd quarter worth approximately $139,000. Harbour Capital Advisors LLC purchased a new stake in Emerson Electric in the 1st quarter worth approximately $147,000. Guardian Life Insurance Co. of America lifted its position in shares of Emerson Electric by 1.1% during 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 buying an additional 28 shares in the last quarter. Finally, Perkins Coie Trust Co purchased a new position in shares of Emerson Electric during the 2nd quarter valued at approximately $150,000. Institutional investors and hedge funds own 70.14% of the company’s stock.
A number of brokerages have recently issued reports on EMR. Zacks Investment Research upgraded Emerson Electric from a “sell” rating to a “hold” rating in a research report on Tuesday, October 31st. Wells Fargo & Company reiterated a “market perform” rating and set a $65.00 target price (up previously from $60.00) on shares of Emerson Electric in a research report on Wednesday. Stifel Nicolaus reiterated a “buy” rating and set a $72.00 target price (up previously from $68.00) on shares of Emerson Electric in a research report on Thursday. 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. Finally, BidaskClub lowered Emerson Electric from a “sell” rating to a “strong sell” rating in a research report on Friday, August 18th. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $64.77.
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Shares of Emerson Electric Company (NYSE:EMR) opened at $61.48 on Friday. Emerson Electric Company has a 52 week low of $53.67 and a 52 week high of $67.79. The stock has a market capitalization of $40,014.02, a price-to-earnings ratio of 24.23, a price-to-earnings-growth ratio of 2.84 and a beta of 1.24. The company has a quick ratio of 1.24, a current ratio of 1.64 and a debt-to-equity ratio of 0.43.
Emerson Electric (NYSE:EMR) last issued its earnings results on Tuesday, November 7th. The industrial products company reported $0.83 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.83. Emerson Electric had a return on equity of 20.47% and a net margin of 9.94%. The business had revenue of $4.44 billion during the quarter, compared to the consensus estimate of $4.43 billion. During the same period last year, the company earned $0.74 EPS. The company’s revenue for the quarter was up 12.8% on a year-over-year basis. sell-side analysts anticipate that Emerson Electric Company will post 2.89 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, December 11th. Shareholders of record on Friday, November 17th will be paid a $0.485 dividend. The ex-dividend date of this dividend is Thursday, November 16th. This is an increase from Emerson Electric’s previous quarterly dividend of $0.48. This represents a $1.94 dividend on an annualized basis and a dividend yield of 3.16%. Emerson Electric’s dividend payout ratio (DPR) is 81.70%.
In other Emerson Electric news, insider Robert T. Sharp sold 2,000 shares of the firm’s stock in a transaction 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 of the company’s stock, valued at approximately $3,792,467.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.79% of the stock is owned by company insiders.
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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