Westpac Banking Corp Boosts Position in Emerson Electric Co. (NYSE:EMR)

Westpac Banking Corp boosted its holdings in shares of Emerson Electric Co. (NYSE:EMR) by 37.3% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 69,266 shares of the industrial products company’s stock after purchasing an additional 18,834 shares during the quarter. Westpac Banking Corp’s holdings in Emerson Electric were worth $4,621,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Glassman Wealth Services grew its stake in Emerson Electric by 240.7% in the 1st quarter. Glassman Wealth Services now owns 402 shares of the industrial products company’s stock valued at $28,000 after acquiring an additional 284 shares during the period. Larson Financial Group LLC boosted its stake in Emerson Electric by 80.3% during the 2nd quarter. Larson Financial Group LLC now owns 440 shares of the industrial products company’s stock worth $29,000 after purchasing an additional 196 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in Emerson Electric during the 1st quarter worth $34,000. Westside Investment Management Inc. acquired a new stake in Emerson Electric during the 2nd quarter worth $34,000. Finally, Buffington Mohr McNeal acquired a new stake in Emerson Electric during the 1st quarter worth $41,000. 70.30% of the stock is owned by institutional investors.

Several equities research analysts have issued reports on the stock. Citigroup lowered their target price on shares of Emerson Electric from $79.00 to $77.00 and set a “buy” rating on the stock in a research note on Tuesday, July 30th. Credit Suisse Group lowered their target price on shares of Emerson Electric from $74.00 to $70.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 7th. Cowen reaffirmed a “buy” rating and set a $72.00 target price on shares of Emerson Electric in a research note on Friday, August 9th. Argus cut shares of Emerson Electric from a “buy” rating to a “hold” rating in a research note on Tuesday. Finally, Zacks Investment Research cut shares of Emerson Electric from a “hold” rating to a “sell” rating and set a $69.00 target price on the stock. in a research note on Tuesday, July 23rd. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and eight have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $72.71.

In related news, VP Bell Katherine Button sold 4,470 shares of the business’s stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $65.00, for a total value of $290,550.00. Following the sale, the vice president now directly owns 18,040 shares in the company, valued at approximately $1,172,600. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Michael H. Train sold 12,278 shares of the business’s stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $63.80, for a total transaction of $783,336.40. Following the completion of the sale, the insider now owns 129,298 shares in the company, valued at $8,249,212.40. The disclosure for this sale can be found here. In the last quarter, insiders have sold 40,333 shares of company stock worth $2,583,230. Insiders own 0.07% of the company’s stock.

NYSE EMR opened at $57.92 on Friday. Emerson Electric Co. has a 52 week low of $55.38 and a 52 week high of $79.70. The company has a quick ratio of 0.85, a current ratio of 1.18 and a debt-to-equity ratio of 0.49. The business’s fifty day simple moving average is $63.90 and its 200-day simple moving average is $66.41. The firm has a market cap of $35.63 billion, a PE ratio of 17.14, a P/E/G ratio of 1.92 and a beta of 1.32.

Emerson Electric (NYSE:EMR) last posted its quarterly earnings results on Tuesday, August 6th. The industrial products company reported $0.94 EPS for the quarter, hitting the consensus estimate of $0.94. Emerson Electric had a return on equity of 24.67% and a net margin of 12.06%. The business had revenue of $4.68 billion for the quarter, compared to analyst estimates of $4.82 billion. During the same quarter in the previous year, the firm earned $1.12 EPS. The company’s quarterly revenue was up 5.1% compared to the same quarter last year. Research analysts expect that Emerson Electric Co. will post 3.64 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Friday, August 16th will be issued a dividend of $0.49 per share. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $1.96 annualized dividend and a dividend yield of 3.38%. Emerson Electric’s dividend payout ratio is presently 57.99%.

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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Institutional Ownership by Quarter for Emerson Electric (NYSE:EMR)

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