Taylor Hoffman Wealth Management increased its holdings in shares of Emerson Electric Co. (NYSE:EMR) by 1.8% in the third quarter, Holdings Channel reports. The firm owned 11,973 shares of the industrial products company’s stock after buying an additional 211 shares during the period. Taylor Hoffman Wealth Management’s holdings in Emerson Electric were worth $801,000 at the end of the most recent quarter.
Several other large investors have also modified their holdings of EMR. Nuveen Asset Management LLC increased its position in shares of Emerson Electric by 8,529.0% during the 2nd quarter. Nuveen Asset Management LLC now owns 2,314,570 shares of the industrial products company’s stock worth $154,428,000 after purchasing an additional 2,287,747 shares during the last quarter. Longview Partners Guernsey LTD increased its position in shares of Emerson Electric by 13.7% during the 2nd quarter. Longview Partners Guernsey LTD now owns 16,863,972 shares of the industrial products company’s stock worth $1,125,164,000 after purchasing an additional 2,034,380 shares during the last quarter. Morgan Stanley increased its position in shares of Emerson Electric by 41.3% during the 2nd quarter. Morgan Stanley now owns 6,534,287 shares of the industrial products company’s stock worth $435,968,000 after purchasing an additional 1,909,769 shares during the last quarter. Senator Investment Group LP acquired a new stake in shares of Emerson Electric during the 2nd quarter worth about $86,736,000. Finally, Jensen Investment Management Inc. increased its position in shares of Emerson Electric by 23.7% during the 2nd quarter. Jensen Investment Management Inc. now owns 3,490,998 shares of the industrial products company’s stock worth $232,919,000 after purchasing an additional 667,979 shares during the last quarter. 70.32% of the stock is owned by hedge funds and other institutional investors.
Emerson Electric stock traded up $0.09 during midday trading on Friday, reaching $73.88. 2,186,068 shares of the stock traded hands, compared to its average volume of 3,242,199. The company has a 50-day simple moving average of $67.96 and a two-hundred day simple moving average of $64.99. Emerson Electric Co. has a 12-month low of $55.38 and a 12-month high of $75.54. The firm has a market cap of $45.39 billion, a PE ratio of 20.02, a price-to-earnings-growth ratio of 2.52 and a beta of 1.37. The company has a current ratio of 1.19, a quick ratio of 0.85 and a debt-to-equity ratio of 0.52.
Emerson Electric (NYSE:EMR) last announced its quarterly earnings data on Tuesday, November 5th. The industrial products company reported $1.07 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.07. The business had revenue of $4.97 billion during the quarter, compared to analysts’ expectations of $5.02 billion. Emerson Electric had a return on equity of 26.32% and a net margin of 12.55%. The business’s quarterly revenue was up 1.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.89 EPS. Equities research analysts anticipate that Emerson Electric Co. will post 3.65 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Friday, November 15th will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 2.71%. The ex-dividend date of this dividend is Thursday, November 14th. Emerson Electric’s payout ratio is presently 53.12%.
EMR has been the subject of a number of research analyst reports. Wolfe Research set a $72.00 target price on Emerson Electric and gave the company a “buy” rating in a report on Thursday, September 26th. Morgan Stanley raised their target price on Emerson Electric from $75.00 to $82.00 and gave the company an “overweight” rating in a report on Wednesday. Cowen cut Emerson Electric from an “outperform” rating to a “market perform” rating and set a $72.00 target price for the company. in a report on Wednesday. Cfra cut Emerson Electric from a “buy” rating to a “hold” rating in a report on Tuesday, November 5th. Finally, Argus cut Emerson Electric from a “buy” rating to a “hold” rating in a report on Tuesday, August 13th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $73.00.
About Emerson Electric
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.
Further Reading: Understanding Compound Annual Growth Rate (CAGR)
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