Mackay Shields LLC lowered its holdings in Emerson Electric Co. (NYSE:EMR) by 4.9% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 124,523 shares of the industrial products company’s stock after selling 6,423 shares during the quarter. Mackay Shields LLC’s holdings in Emerson Electric were worth $8,326,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. H2O AM LLP grew its holdings in Emerson Electric by 58.2% in the 2nd quarter. H2O AM LLP now owns 348,979 shares of the industrial products company’s stock valued at $21,874,000 after buying an additional 128,428 shares during the last quarter. Spectrum Asset Management Inc. NB CA grew its holdings in shares of Emerson Electric by 21.3% during the 3rd quarter. Spectrum Asset Management Inc. NB CA now owns 21,523 shares of the industrial products company’s stock worth $1,439,000 after purchasing an additional 3,775 shares in the last quarter. Delta Asset Management LLC TN grew its holdings in shares of Emerson Electric by 0.5% during the 2nd quarter. Delta Asset Management LLC TN now owns 114,619 shares of the industrial products company’s stock worth $7,647,000 after purchasing an additional 598 shares in the last quarter. DNB Asset Management AS grew its holdings in shares of Emerson Electric by 4.3% during the 2nd quarter. DNB Asset Management AS now owns 127,098 shares of the industrial products company’s stock worth $8,480,000 after purchasing an additional 5,283 shares in the last quarter. Finally, Janus Henderson Group PLC grew its holdings in shares of Emerson Electric by 14.3% during the 2nd quarter. Janus Henderson Group PLC now owns 215,440 shares of the industrial products company’s stock worth $14,375,000 after purchasing an additional 27,015 shares in the last quarter. 70.32% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Emerson Electric stock traded down $0.15 during midday trading on Friday, hitting $73.64. 247,024 shares of the company were exchanged, compared to its average volume of 3,099,962. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.19 and a quick ratio of 0.85. The firm has a market cap of $45.39 billion, a P/E ratio of 19.96, a PEG ratio of 2.52 and a beta of 1.37. Emerson Electric Co. has a 52 week low of $55.38 and a 52 week high of $75.54. The firm has a 50 day simple moving average of $67.79 and a 200-day simple moving average of $64.99.
Emerson Electric (NYSE:EMR) last posted its earnings results on Tuesday, November 5th. The industrial products company reported $1.07 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $1.07. The business had revenue of $4.97 billion during the quarter, compared to the consensus estimate of $5.02 billion. Emerson Electric had a return on equity of 26.32% and a net margin of 12.55%. Emerson Electric’s revenue was up 1.7% on a year-over-year basis. During the same quarter last year, the company earned $0.89 EPS. Equities research analysts expect that Emerson Electric Co. will post 3.65 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Friday, November 15th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $2.00 annualized dividend and a dividend yield of 2.72%. Emerson Electric’s dividend payout ratio (DPR) is presently 53.12%.
Several brokerages have recently weighed in on EMR. Stephens set a $71.00 price objective on Emerson Electric and gave the stock a “buy” rating in a report on Monday, September 30th. Citigroup lifted their price objective on Emerson Electric from $77.00 to $83.00 and gave the stock a “buy” rating in a report on Thursday. Deutsche Bank decreased their price objective on Emerson Electric from $74.00 to $73.00 and set a “buy” rating on the stock in a report on Monday, August 5th. Morgan Stanley lifted their price objective on Emerson Electric from $75.00 to $82.00 and gave the stock an “overweight” rating in a report on Wednesday. Finally, Barclays decreased their price objective on Emerson Electric from $65.00 to $64.00 and set an “equal weight” rating on the stock in a report on Monday, September 30th. One analyst has rated the stock with a sell rating, eight have given a hold rating and nine have given a buy rating to the company’s stock. Emerson Electric presently has a consensus rating of “Hold” and an average price target of $73.86.
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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