Emerson Electric Company (EMR) Shares Bought by Palisade Asset Management LLC
Palisade Asset Management LLC boosted its stake in Emerson Electric Company (NYSE:EMR) by 5.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 31,683 shares of the industrial products company’s stock after buying an additional 1,610 shares during the period. Palisade Asset Management LLC’s holdings in Emerson Electric were worth $1,991,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently modified their holdings of the company. Tower Research Capital LLC TRC purchased a new position in shares of Emerson Electric during the second quarter valued at approximately $109,000. Intellectus Partners LLC lifted its holdings in shares of Emerson Electric by 0.3% during the second quarter. Intellectus Partners LLC now owns 2,094 shares of the industrial products company’s stock valued at $125,000 after purchasing an additional 7 shares during the last quarter. Mountain Capital Investment Advisors Inc purchased a new position in shares of Emerson Electric during the second quarter valued at approximately $129,000. AT Bancorp purchased a new position in shares of Emerson Electric during the second quarter valued at approximately $139,000. Finally, Harbour Capital Advisors LLC purchased a new position in shares of Emerson Electric during the first quarter valued at approximately $147,000. Institutional investors and hedge funds own 69.00% of the company’s stock.
Shares of Emerson Electric Company (NYSE:EMR) opened at $67.20 on Thursday. The firm has a market cap of $42,790.12, a P/E ratio of 25.84, a P/E/G ratio of 2.99 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 Company has a 1 year low of $55.40 and a 1 year high of $67.79.
Emerson Electric (NYSE:EMR) last announced its quarterly earnings results 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 company had revenue of $4.44 billion during the quarter, compared to the consensus estimate of $4.43 billion. Emerson Electric had a net margin of 9.94% and a return on equity of 20.47%. The firm’s quarterly revenue was up 12.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.74 earnings per share. research analysts forecast that Emerson Electric Company will post 2.92 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Monday, December 11th. Investors of record on Friday, November 17th were given a dividend of $0.485 per share. The ex-dividend date was Thursday, November 16th. This represents a $1.94 annualized dividend and a dividend yield of 2.89%. This is an increase from Emerson Electric’s previous quarterly dividend of $0.48. Emerson Electric’s dividend payout ratio (DPR) is 82.55%.
In other Emerson Electric news, VP Bell Katherine Button sold 7,909 shares of Emerson Electric stock in a transaction that occurred on Thursday, November 30th. The shares were sold at an average price of $64.78, for a total value of $512,345.02. Following the completion of the sale, the vice president now owns 44,628 shares of the company’s stock, valued at approximately $2,891,001.84. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Frank J. Dellaquila sold 2,100 shares of Emerson Electric stock in a transaction that occurred on Wednesday, December 6th. The stock was sold at an average price of $64.77, for a total transaction 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 approximately $11,577,184.11. The disclosure for this sale can be found here. Insiders have sold 27,017 shares of company stock valued at $1,771,129 in the last three months. 0.79% of the stock is owned by insiders.
Several equities analysts have recently issued reports on the stock. Zacks Investment Research upgraded shares of Emerson Electric from a “sell” rating to a “hold” rating in a report on Tuesday, October 31st. Stifel Nicolaus reiterated a “buy” rating and set a $75.00 target price on shares of Emerson Electric in a report on Monday. Cowen upgraded shares of Emerson Electric to a “buy” rating and set a $71.00 target price for the company in a report on Monday, October 23rd. Goldman Sachs Group reiterated a “neutral” rating and set a $66.00 target price on shares of Emerson Electric in a report on Friday, December 8th. Finally, Bank of America upgraded shares of Emerson Electric from a “neutral” rating to a “buy” rating and lifted their target price for the company from $64.44 to $79.00 in a report on Tuesday, October 17th. Three research analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have given a buy rating to the company. Emerson Electric has an average rating of “Hold” and an average price target of $65.86.
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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