Bowen Hanes & Co. Inc. Acquires 21,395 Shares of Emerson Electric Co. (EMR)
Bowen Hanes & Co. Inc. increased its holdings in shares of Emerson Electric Co. (NYSE:EMR) by 39.4% during the fourth quarter, HoldingsChannel.com reports. The fund owned 75,682 shares of the industrial products company’s stock after purchasing an additional 21,395 shares during the quarter. Bowen Hanes & Co. Inc.’s holdings in Emerson Electric were worth $5,274,000 as of its most recent filing with the SEC.
A number of other large investors have also added to or reduced their stakes in EMR. Captrust Financial Advisors bought a new position in Emerson Electric during the second quarter worth about $177,119,000. Longview Partners Guernsey LTD increased its position in Emerson Electric by 9.0% during the third quarter. Longview Partners Guernsey LTD now owns 13,758,325 shares of the industrial products company’s stock worth $864,573,000 after acquiring an additional 1,134,275 shares during the period. American Century Companies Inc. increased its position in Emerson Electric by 18.5% during the fourth quarter. American Century Companies Inc. now owns 5,525,308 shares of the industrial products company’s stock worth $385,059,000 after acquiring an additional 861,558 shares during the period. Alyeska Investment Group L.P. bought a new position in Emerson Electric during the third quarter worth about $49,644,000. Finally, BlackRock Inc. grew its stake 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 worth $2,441,728,000 after buying an additional 778,791 shares in the last quarter. 68.27% of the stock is currently owned by institutional investors and hedge funds.
In other news, COO Edgar M. Purvis, Jr. sold 9,490 shares of the firm’s stock in a transaction that occurred on Friday, December 8th. The shares were sold at an average price of $65.74, for a total value of $623,872.60. Following the sale, the chief operating officer now directly owns 168,984 shares in the company, valued at approximately $11,109,008.16. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Frank J. Dellaquila sold 2,100 shares of the firm’s stock in a transaction that occurred on Wednesday, December 6th. The shares were 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 owns 178,743 shares in the company, valued at $11,577,184.11. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 19,108 shares of company stock worth $1,258,784. 0.79% of the stock is currently owned by corporate insiders.
Emerson Electric (NYSE:EMR) last posted its quarterly earnings results on Tuesday, February 6th. The industrial products company reported $0.58 earnings per share for the quarter, beating analysts’ consensus estimates of $0.54 by $0.04. Emerson Electric had a net margin of 10.09% and a return on equity of 20.73%. The company had revenue of $3.82 billion for the quarter, compared to the consensus estimate of $3.72 billion. During the same period last year, the company posted $0.49 EPS. The firm’s quarterly revenue was up 18.7% compared to the same quarter last year. sell-side analysts anticipate that Emerson Electric Co. will post 3.11 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, March 9th. Stockholders 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 dividend on an annualized basis and a dividend yield of 2.80%. Emerson Electric’s payout ratio is currently 76.38%.
A number of equities research analysts have issued reports on EMR shares. Edward Jones downgraded shares of Emerson Electric from a “buy” rating to a “hold” rating in a research note on Friday, November 17th. Wells Fargo & Co reiterated a “market perform” rating and set a $65.00 price objective (up from $60.00) on shares of Emerson Electric in a research note on Wednesday, November 8th. Cowen reiterated a “buy” rating and set a $72.00 price objective on shares of Emerson Electric in a research note on Wednesday, December 20th. Citigroup set a $61.00 price objective on shares of Emerson Electric and gave the stock a “sell” rating in a research note on Tuesday, November 28th. Finally, UBS Group started coverage on shares of Emerson Electric in a research note on Monday, January 22nd. They set a “buy” rating and a $73.26 price objective on the stock. Three analysts have rated the stock with a sell rating, six have given a hold rating and nine have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $70.72.
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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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