Principal Financial Group Inc. raised its stake in shares of Emerson Electric Co. (NYSE:EMR) by 0.3% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 856,734 shares of the industrial products company’s stock after buying an additional 2,823 shares during the period. Principal Financial Group Inc.’s holdings in Emerson Electric were worth $53,143,000 as of its most recent SEC filing.
Several other large investors also recently modified their holdings of EMR. Public Employees Retirement Association of Colorado raised its holdings in shares of Emerson Electric by 6.3% during the 1st quarter. Public Employees Retirement Association of Colorado now owns 115,893 shares of the industrial products company’s stock valued at $5,522,000 after purchasing an additional 6,832 shares in the last quarter. Oppenheimer & Co. Inc. raised its holdings in shares of Emerson Electric by 3.0% during the 1st quarter. Oppenheimer & Co. Inc. now owns 40,757 shares of the industrial products company’s stock valued at $1,942,000 after purchasing an additional 1,188 shares in the last quarter. Cetera Investment Advisers raised its holdings in shares of Emerson Electric by 3.8% during the 1st quarter. Cetera Investment Advisers now owns 5,447 shares of the industrial products company’s stock valued at $260,000 after purchasing an additional 201 shares in the last quarter. Trexquant Investment LP raised its holdings in Emerson Electric by 132.7% in the 1st quarter. Trexquant Investment LP now owns 58,335 shares of the industrial products company’s stock worth $2,780,000 after acquiring an additional 33,268 shares during the period. Finally, AGF Investments Inc. bought a new position in shares of Emerson Electric during the 1st quarter worth about $650,000. 72.37% of the stock is owned by institutional investors.
NYSE:EMR opened at $67.85 on Friday. Emerson Electric Co. has a 12 month low of $37.75 and a 12 month high of $78.38. The company has a quick ratio of 0.97, a current ratio of 1.32 and a debt-to-equity ratio of 0.70. The firm has a market cap of $40.55 billion, a PE ratio of 21.20, a price-to-earnings-growth ratio of 2.69 and a beta of 1.51. The company’s 50-day moving average price is $67.94 and its two-hundred day moving average price is $59.54.
Emerson Electric (NYSE:EMR) last issued its earnings results on Tuesday, August 4th. The industrial products company reported $0.80 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.61 by $0.19. Emerson Electric had a net margin of 11.39% and a return on equity of 26.12%. The firm had revenue of $3.91 billion during the quarter, compared to the consensus estimate of $3.90 billion. During the same quarter in the prior year, the firm earned $0.94 earnings per share. The business’s quarterly revenue was down 16.4% on a year-over-year basis. On average, research analysts expect that Emerson Electric Co. will post 3.3 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Thursday, September 10th. Shareholders of record on Friday, August 14th were paid a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 2.95%. The ex-dividend date of this dividend was Thursday, August 13th. Emerson Electric’s payout ratio is presently 54.20%.
In other Emerson Electric news, VP Bell Katherine Button sold 687 shares of the company’s stock in a transaction that occurred on Tuesday, June 23rd. The shares were sold at an average price of $62.27, for a total value of $42,779.49. Following the completion of the sale, the vice president now owns 29,741 shares of the company’s stock, valued at $1,851,972.07. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.50% of the stock is currently owned by corporate insiders.
EMR has been the topic of several research reports. JPMorgan Chase & Co. dropped their price objective on shares of Emerson Electric from $80.00 to $69.00 in a report on Friday, August 7th. Deutsche Bank downgraded shares of Emerson Electric from a “buy” rating to a “hold” rating and boosted their price objective for the stock from $64.00 to $66.00 in a report on Tuesday, July 14th. Cowen upgraded shares of Emerson Electric from a “market perform” rating to an “outperform” rating and set a $70.00 target price on the stock in a research report on Wednesday, August 5th. TheStreet upgraded shares of Emerson Electric from a “c+” rating to a “b-” rating in a research report on Wednesday, June 17th. Finally, Berenberg Bank assumed coverage on shares of Emerson Electric in a research report on Thursday, August 20th. They set a “buy” rating and a $83.00 target price on the stock. One analyst has rated the stock with a sell rating, ten have given a hold rating and seven have given a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $66.44.
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.
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