North Star Asset Management Inc. Has $1.44 Million Stake in Emerson Electric Company (EMR)
North Star Asset Management Inc. lifted its position in Emerson Electric Company (NYSE:EMR) by 6.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 24,024 shares of the industrial products company’s stock after buying an additional 1,425 shares during the period. North Star Asset Management Inc.’s holdings in Emerson Electric were worth $1,438,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently modified their holdings of EMR. Vanguard Group Inc. lifted its position in Emerson Electric by 1.1% during the second quarter. Vanguard Group Inc. now owns 44,195,877 shares of the industrial products company’s stock valued at $2,634,958,000 after purchasing an additional 497,625 shares during the period. BlackRock Inc. lifted its position in Emerson Electric by 1.9% during the second quarter. BlackRock Inc. now owns 40,954,867 shares of the industrial products company’s stock valued at $2,441,728,000 after purchasing an additional 778,791 shares during the period. Longview Partners Guernsey LTD lifted its position in Emerson Electric by 4.4% during the second quarter. Longview Partners Guernsey LTD now owns 12,624,050 shares of the industrial products company’s stock valued at $752,646,000 after purchasing an additional 526,712 shares during the period. Capital World Investors lifted its position in Emerson Electric by 4.6% during the second quarter. Capital World Investors now owns 11,450,000 shares of the industrial products company’s stock valued at $682,649,000 after purchasing an additional 500,000 shares during the period. Finally, Wells Fargo & Company MN lifted its position in Emerson Electric by 4.3% during the second quarter. Wells Fargo & Company MN now owns 10,532,262 shares of the industrial products company’s stock valued at $627,933,000 after purchasing an additional 432,753 shares during the period. Hedge funds and other institutional investors own 69.00% of the company’s stock.
Shares of Emerson Electric Company (NYSE:EMR) traded down $0.14 during mid-day trading on Tuesday, reaching $66.41. 2,291,900 shares of the company’s stock were exchanged, compared to its average volume of 3,432,599. Emerson Electric Company has a twelve month low of $55.40 and a twelve month high of $67.79. The stock has a market capitalization of $42,713.11, a PE ratio of 25.80, a P/E/G ratio of 3.13 and a beta of 1.24. The company has a current ratio of 1.64, a quick ratio of 1.30 and a debt-to-equity ratio of 0.43.
Emerson Electric (NYSE:EMR) last announced its quarterly earnings data 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 firm had revenue of $4.44 billion during the quarter, compared to analysts’ expectations of $4.43 billion. Emerson Electric had a net margin of 9.94% and a return on equity of 20.47%. The company’s revenue for the quarter was up 12.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.74 earnings per share. sell-side analysts predict that Emerson Electric Company will post 2.92 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, December 11th. Stockholders of record on Friday, November 17th were paid a $0.485 dividend. The ex-dividend date was Thursday, November 16th. This is a boost 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 2.92%. Emerson Electric’s dividend payout ratio is 82.55%.
A number of brokerages recently weighed in on EMR. Stifel Nicolaus restated a “buy” rating and set a $75.00 price objective on shares of Emerson Electric in a research report on Monday. BidaskClub downgraded shares of Emerson Electric from a “sell” rating to a “strong sell” rating in a research report on Friday, August 18th. Cowen raised shares of Emerson Electric from a “market perform” rating to an “outperform” rating in a report on Tuesday, October 17th. Zacks Investment Research raised shares of Emerson Electric from a “sell” rating to a “hold” rating in a report on Tuesday, October 31st. Finally, J P Morgan Chase & Co began coverage on shares of Emerson Electric in a report on Wednesday, November 29th. They set a “neutral” rating for the company. Three research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $65.86.
In other news, VP Frank J. Dellaquila sold 2,100 shares of the stock in a transaction on Wednesday, December 6th. The shares were sold at an average price of $64.77, for a total value of $136,017.00. Following the completion of the sale, the vice president now directly owns 178,743 shares of the company’s stock, valued at $11,577,184.11. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Edgar M. Purvis, Jr. sold 9,490 shares of the stock in a transaction on Friday, December 8th. The stock was sold at an average price of $65.74, for a total transaction of $623,872.60. Following the completion of the sale, the chief operating officer now directly owns 168,984 shares of the company’s stock, valued at $11,109,008.16. The disclosure for this sale can be found here. Over the last three months, insiders sold 19,499 shares of company stock valued at $1,272,235. Corporate insiders own 0.79% of the company’s stock.
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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.
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