Frontier Wealth Management LLC Boosts Position in Emerson Electric Company (EMR)
Frontier Wealth Management LLC lifted its position in shares of Emerson Electric Company (NYSE:EMR) by 0.6% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 17,830 shares of the industrial products company’s stock after acquiring an additional 105 shares during the period. Frontier Wealth Management LLC’s holdings in Emerson Electric were worth $1,063,000 at the end of the most recent reporting period.
Other hedge funds have also recently bought and sold shares of the company. Captrust Financial Advisors bought a new position in Emerson Electric during the 2nd quarter worth $177,119,000. Vanguard Group Inc. grew its stake in Emerson Electric by 5.8% during the 1st quarter. Vanguard Group Inc. now owns 43,698,252 shares of the industrial products company’s stock worth $2,615,777,000 after buying an additional 2,404,844 shares during the last quarter. Prudential Financial Inc. grew its stake in Emerson Electric by 135.9% during the 1st quarter. Prudential Financial Inc. now owns 2,963,124 shares of the industrial products company’s stock worth $177,372,000 after buying an additional 1,706,810 shares during the last quarter. Pictet Asset Management Ltd. grew its stake in Emerson Electric by 217.1% during the 2nd quarter. Pictet Asset Management Ltd. now owns 2,460,762 shares of the industrial products company’s stock worth $145,480,000 after buying an additional 1,684,786 shares during the last quarter. Finally, BlackRock Inc. grew its stake in Emerson Electric by 1.9% during the 2nd quarter. BlackRock Inc. now owns 40,954,867 shares of the industrial products company’s stock worth $2,441,728,000 after buying an additional 778,791 shares during the last quarter. 69.35% of the stock is currently owned by institutional investors and hedge funds.
In other news, insider Robert T. Sharp sold 2,000 shares of the company’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 owns 64,290 shares in the company, valued at $3,792,467.10. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.79% of the company’s stock.
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Shares of Emerson Electric Company (EMR) opened at $61.88 on Thursday. The company has a quick ratio of 1.30, a current ratio of 1.64 and a debt-to-equity ratio of 0.43. The firm has a market capitalization of $38,733.82, a price-to-earnings ratio of 23.39, a PEG ratio of 2.84 and a beta of 1.24. Emerson Electric Company has a twelve month low of $53.92 and a twelve month high of $67.79.
Emerson Electric (NYSE:EMR) last announced its quarterly earnings data on Tuesday, November 7th. The industrial products company reported $0.83 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.83. The business had revenue of $4.44 billion during the quarter, compared to analyst estimates of $4.43 billion. Emerson Electric had a return on equity of 20.47% and a net margin of 9.94%. The company’s revenue was up 12.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.74 earnings per share. analysts forecast that Emerson Electric Company will post 2.91 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 11th. Stockholders of record on Friday, November 17th will be issued a $0.485 dividend. This is a positive change from Emerson Electric’s previous quarterly dividend of $0.48. The ex-dividend date is Thursday, November 16th. This represents a $1.94 annualized dividend and a dividend yield of 3.14%. Emerson Electric’s dividend payout ratio is 82.55%.
A number of research analysts recently commented on the company. BidaskClub downgraded Emerson Electric from a “sell” rating to a “strong sell” rating in a research note on Friday, August 18th. Cowen and Company upgraded Emerson Electric from a “market perform” rating to an “outperform” rating in a research note on Tuesday, October 17th. Zacks Investment Research upgraded Emerson Electric from a “sell” rating to a “hold” rating in a research note on Tuesday, October 31st. Berenberg Bank restated a “sell” rating and set a $53.00 price objective on shares of Emerson Electric in a research note on Friday, August 11th. Finally, Citigroup Inc. restated a “sell” rating and set a $61.00 price objective (up from $58.00) on shares of Emerson Electric in a research note on Monday, October 9th. Three analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and three have given a buy rating to the company’s stock. Emerson Electric has an average rating of “Hold” and an average price target of $65.14.
Emerson Electric 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.
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