Neuberger Berman Group LLC lifted its holdings in shares of Emerson Electric Co. (NYSE:EMR) by 14.8% during the first quarter, HoldingsChannel reports. The institutional investor owned 526,635 shares of the industrial products company’s stock after acquiring an additional 68,089 shares during the quarter. Neuberger Berman Group LLC’s holdings in Emerson Electric were worth $36,059,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also made changes to their positions in the company. Middleton & Co Inc MA purchased a new stake in shares of Emerson Electric during the 1st quarter valued at approximately $214,000. Harvey Investment Co. LLC bought a new stake in Emerson Electric during the 1st quarter worth approximately $368,000. Headinvest LLC increased its holdings in Emerson Electric by 97.0% during the 4th quarter. Headinvest LLC now owns 155,257 shares of the industrial products company’s stock worth $9,277,000 after acquiring an additional 76,427 shares during the period. Piedmont Investment Advisors Inc. increased its holdings in Emerson Electric by 7.0% during the 4th quarter. Piedmont Investment Advisors Inc. now owns 43,515 shares of the industrial products company’s stock worth $2,600,000 after acquiring an additional 2,854 shares during the period. Finally, Pioneer Trust Bank N A OR increased its holdings in Emerson Electric by 5.3% during the 1st quarter. Pioneer Trust Bank N A OR now owns 7,579 shares of the industrial products company’s stock worth $519,000 after acquiring an additional 379 shares during the period. Institutional investors own 70.52% of the company’s stock.
In other news, VP Bell Katherine Button sold 15,791 shares of the stock in a transaction on Friday, June 7th. The shares were sold at an average price of $63.91, for a total value of $1,009,202.81. Following the transaction, the vice president now owns 30,304 shares of the company’s stock, valued at approximately $1,936,728.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Michael H. Train sold 12,278 shares of the stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $63.80, for a total transaction of $783,336.40. Following the completion of the transaction, the insider now directly owns 129,298 shares in the company, valued at approximately $8,249,212.40. The disclosure for this sale can be found here. 0.07% of the stock is owned by corporate insiders.
EMR has been the topic of a number of analyst reports. Zacks Investment Research raised shares of Emerson Electric from a “sell” rating to a “hold” rating in a report on Wednesday, May 8th. Citigroup raised shares of Emerson Electric from a “neutral” rating to a “buy” rating and upped their target price for the stock from $67.00 to $81.00 in a report on Monday, April 8th. Finally, Credit Suisse Group decreased their target price on shares of Emerson Electric from $80.00 to $74.00 and set an “outperform” rating on the stock in a report on Wednesday, June 5th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and eleven have given a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $75.47.
Shares of NYSE:EMR opened at $63.20 on Friday. The firm has a market capitalization of $38.56 billion, a PE ratio of 18.70, a P/E/G ratio of 2.00 and a beta of 1.30. Emerson Electric Co. has a one year low of $55.38 and a one year high of $79.70. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.76 and a current ratio of 1.07.
Emerson Electric (NYSE:EMR) last issued its quarterly earnings results on Tuesday, May 7th. The industrial products company reported $0.84 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.84. The firm had revenue of $4.57 billion for the quarter, compared to analyst estimates of $4.64 billion. Emerson Electric had a net margin of 12.81% and a return on equity of 24.63%. The business’s revenue for the quarter was up 7.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.76 EPS. Research analysts expect that Emerson Electric Co. will post 3.65 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Monday, June 10th. Stockholders of record on Friday, May 17th were issued a $0.49 dividend. This represents a $1.96 dividend on an annualized basis and a dividend yield of 3.10%. The ex-dividend date of this dividend was Thursday, May 16th. Emerson Electric’s payout ratio is 57.99%.
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Emerson Electric Profile
Emerson Electric Co, a technology and engineering company, provides various solutions to industrial, commercial, and consumer markets worldwide. The company's Automation Solutions segment offers products and integrated solutions, including measurement and analytical instrumentation; valves, actuators, and regulators; industrial solutions; and process control systems and solutions.
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