Emerson Electric Company (EMR) Holdings Cut by OLD National Bancorp IN
OLD National Bancorp IN lowered its stake in shares of Emerson Electric Company (NYSE:EMR) by 7.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 78,184 shares of the industrial products company’s stock after selling 5,863 shares during the period. OLD National Bancorp IN’s holdings in Emerson Electric were worth $5,449,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds also recently modified their holdings of EMR. Beach Investment Management LLC. bought a new position in Emerson Electric during the second quarter worth about $771,000. Deprince Race & Zollo Inc. raised its position in shares of Emerson Electric by 4.3% during the second quarter. Deprince Race & Zollo Inc. now owns 897,319 shares of the industrial products company’s stock worth $53,498,000 after purchasing an additional 36,709 shares during the period. Hartland & Co. LLC raised its position in shares of Emerson Electric by 0.7% during the second quarter. Hartland & Co. LLC now owns 22,917 shares of the industrial products company’s stock worth $1,367,000 after purchasing an additional 170 shares during the period. KBC Group NV raised its position in shares of Emerson Electric by 6.2% during the second quarter. KBC Group NV now owns 77,196 shares of the industrial products company’s stock worth $4,602,000 after purchasing an additional 4,492 shares during the period. Finally, Penobscot Investment Management Company Inc. raised its position in shares of Emerson Electric by 2.0% during the second quarter. Penobscot Investment Management Company Inc. now owns 10,430 shares of the industrial products company’s stock worth $622,000 after purchasing an additional 200 shares during the period. Hedge funds and other institutional investors own 69.44% of the company’s stock.
A number of equities research analysts have recently commented on EMR shares. Cowen raised Emerson Electric to a “buy” rating and set a $71.00 price target on the stock in a research report on Monday, October 23rd. Bank of America raised Emerson Electric from a “neutral” rating to a “buy” rating and raised their price target for the stock from $64.44 to $79.00 in a research report on Tuesday, October 17th. Stifel Nicolaus reissued a “buy” rating and issued a $72.00 target price (up previously from $68.00) on shares of Emerson Electric in a research report on Thursday, November 9th. Vertical Research raised Emerson Electric from a “hold” rating to a “buy” rating in a research report on Tuesday, January 2nd. Finally, UBS Group began coverage on Emerson Electric in a research report on Monday, January 22nd. They issued a “buy” rating and a $73.26 target price on the stock. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and seven have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $67.65.
Emerson Electric Company (NYSE EMR) opened at $70.31 on Tuesday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.02 and a current ratio of 1.32. Emerson Electric Company has a one year low of $56.77 and a one year high of $74.45. The company has a market capitalization of $43,848.23, a P/E ratio of 28.35, a PEG ratio of 2.38 and a beta of 1.19.
Emerson Electric (NYSE:EMR) last issued its earnings results on Tuesday, February 6th. The industrial products company reported $0.58 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.54 by $0.04. Emerson Electric had a return on equity of 20.73% and a net margin of 10.09%. The company had revenue of $3.82 billion during the quarter, compared to the consensus estimate of $3.72 billion. During the same period in the previous year, the company posted $0.49 EPS. The firm’s revenue for the quarter was up 18.7% compared to the same quarter last year. research analysts anticipate that Emerson Electric Company will post 3.12 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, March 9th. Investors of record on Friday, February 16th will be paid a $0.485 dividend. The ex-dividend date of this dividend is Thursday, February 15th. This represents a $1.94 annualized dividend and a yield of 2.76%. Emerson Electric’s dividend payout ratio (DPR) is presently 78.23%.
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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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