Ironwood Investment Counsel LLC Purchases 3,670 Shares of Emerson Electric Company (EMR)
Ironwood Investment Counsel LLC lifted its position in shares of Emerson Electric Company (NYSE:EMR) by 4.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 84,720 shares of the industrial products company’s stock after buying an additional 3,670 shares during the period. Emerson Electric comprises about 1.9% of Ironwood Investment Counsel LLC’s investment portfolio, making the stock its 14th largest holding. Ironwood Investment Counsel LLC’s holdings in Emerson Electric were worth $5,051,000 at the end of the most recent reporting period.
Several other hedge funds have also recently bought and sold shares of EMR. Northwestern Mutual Investment Management Company LLC raised its holdings in Emerson Electric by 76.7% during the first quarter. Northwestern Mutual Investment Management Company LLC now owns 130,395 shares of the industrial products company’s stock worth $7,805,000 after acquiring an additional 56,586 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its holdings in Emerson Electric by 8.5% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 146,250 shares of the industrial products company’s stock worth $8,755,000 after acquiring an additional 11,494 shares in the last quarter. Tiedemann Wealth Management LLC bought a new stake in Emerson Electric during the first quarter worth about $235,000. Morgan Dempsey Capital Management LLC raised its stake in Emerson Electric by 18.6% in the first quarter. Morgan Dempsey Capital Management LLC now owns 73,511 shares of the industrial products company’s stock valued at $4,399,000 after buying an additional 11,526 shares during the period. Finally, Baird Financial Group Inc. raised its stake in Emerson Electric by 2.1% in the first quarter. Baird Financial Group Inc. now owns 555,537 shares of the industrial products company’s stock valued at $33,254,000 after buying an additional 11,621 shares during the period. 69.35% of the stock is owned by institutional investors.
Shares of Emerson Electric Company (EMR) opened at $59.85 on Monday. The stock has a market capitalization of $38,305.17, a P/E ratio of 23.20, a P/E/G ratio of 2.73 and a beta of 1.24. Emerson Electric Company has a 12-month low of $53.92 and a 12-month high of $67.79. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.30 and a current ratio of 1.64.
Emerson Electric (NYSE:EMR) last issued its quarterly earnings results on Tuesday, November 7th. The industrial products company reported $0.83 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.83. The business had revenue of $4.44 billion for the quarter, compared to the consensus estimate of $4.43 billion. Emerson Electric had a return on equity of 20.47% and a net margin of 9.94%. The firm’s quarterly revenue was up 12.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.74 earnings per share. analysts forecast that Emerson Electric Company will post 2.91 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, December 11th. Shareholders of record on Friday, November 17th will be issued a $0.485 dividend. This represents a $1.94 dividend on an annualized basis and a dividend yield of 3.24%. The ex-dividend date is Thursday, November 16th. This is an increase from Emerson Electric’s previous quarterly dividend of $0.48. Emerson Electric’s dividend payout ratio (DPR) is currently 82.55%.
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Several research firms have issued reports on EMR. Royal Bank Of Canada restated a “sector perform” rating and issued a $62.00 price objective (up previously from $61.00) on shares of Emerson Electric in a research note on Wednesday, August 2nd. BidaskClub lowered Emerson Electric from a “sell” rating to a “strong sell” rating in a research note on Friday, August 18th. Robert W. Baird restated a “hold” rating and issued a $70.00 price objective on shares of Emerson Electric in a research note on Friday, November 10th. Edward Jones lowered Emerson Electric from a “buy” rating to a “hold” rating in a research note on Friday. Finally, Berenberg Bank restated a “sell” rating and issued a $53.00 price objective on shares of Emerson Electric in a research note on Friday, August 11th. Three research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and three have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $65.14.
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 sale, the insider now owns 64,290 shares of the company’s stock, valued at approximately $3,792,467.10. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.79% of the company’s stock.
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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