Prudent Man Advisors LLC reduced its holdings in shares of Emerson Electric Co. (NYSE:EMR – Get Rating) by 9.1% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 7,327 shares of the industrial products company’s stock after selling 735 shares during the period. Prudent Man Advisors LLC’s holdings in Emerson Electric were worth $718,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds have also made changes to their positions in EMR. FSB Premier Wealth Management Inc. acquired a new position in shares of Emerson Electric in the fourth quarter valued at approximately $35,000. Credit Agricole S A purchased a new position in Emerson Electric during the 4th quarter worth $35,000. Riverview Trust Co lifted its stake in shares of Emerson Electric by 404.1% in the 1st quarter. Riverview Trust Co now owns 368 shares of the industrial products company’s stock worth $36,000 after acquiring an additional 295 shares during the period. Gibson Wealth Advisors LLC purchased a new position in Emerson Electric during the fourth quarter worth about $37,000. Finally, Retirement Planning Co of New England Inc. purchased a new stake in Emerson Electric in the 4th quarter valued at approximately $41,000. 73.50% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Several research firms have issued reports on EMR. Wells Fargo & Company increased their price objective on Emerson Electric from $87.00 to $89.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 12th. Credit Suisse Group set a $107.00 target price on shares of Emerson Electric in a report on Tuesday, July 19th. Oppenheimer reduced their price objective on Emerson Electric from $115.00 to $110.00 in a report on Monday, May 9th. JPMorgan Chase & Co. began coverage on shares of Emerson Electric in a research note on Thursday, July 7th. They issued a “neutral” rating and a $80.00 price objective on the stock. Finally, Mizuho reduced their price target on shares of Emerson Electric from $100.00 to $85.00 and set a “neutral” rating on the stock in a report on Monday, July 18th. Six equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, Emerson Electric currently has an average rating of “Moderate Buy” and a consensus price target of $99.50.
Emerson Electric Stock Up 0.9 %
Emerson Electric (NYSE:EMR – Get Rating) last released its quarterly earnings data on Wednesday, May 4th. The industrial products company reported $1.29 EPS for the quarter, topping analysts’ consensus estimates of $1.18 by $0.11. The company had revenue of $4.80 billion for the quarter, compared to the consensus estimate of $4.71 billion. Emerson Electric had a return on equity of 27.72% and a net margin of 15.16%. The company’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same period last year, the business posted $0.97 EPS. On average, analysts anticipate that Emerson Electric Co. will post 5.05 EPS for the current year.
Emerson Electric Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 9th. Shareholders of record on Friday, August 12th will be paid a dividend of $0.515 per share. The ex-dividend date is Thursday, August 11th. This represents a $2.06 annualized dividend and a yield of 2.28%. Emerson Electric’s dividend payout ratio is currently 43.10%.
About Emerson Electric
Emerson Electric Co, a technology and engineering company, provides various solutions for customers in industrial, commercial, and residential markets in the Americas, Asia, the Middle East, Africa, and Europe. The company operates through Automation Solutions, and Commercial & Residential Solutions segments.
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