LPL Financial LLC boosted its position in shares of Emerson Electric Co. (NYSE:EMR) by 20.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 370,723 shares of the industrial products company’s stock after purchasing an additional 62,412 shares during the period. LPL Financial LLC owned about 0.06% of Emerson Electric worth $35,678,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently added to or reduced their stakes in EMR. Wagner Wealth Management LLC bought a new position in shares of Emerson Electric in the 1st quarter valued at about $25,000. Moisand Fitzgerald Tamayo LLC bought a new position in shares of Emerson Electric in the 2nd quarter valued at about $28,000. Financial Insights Inc. bought a new position in shares of Emerson Electric in the 2nd quarter valued at about $38,000. Robbins Farley LLC bought a new position in shares of Emerson Electric in the 1st quarter valued at about $47,000. Finally, Joseph P. Lucia & Associates LLC bought a new position in shares of Emerson Electric in the 2nd quarter valued at about $58,000. Hedge funds and other institutional investors own 72.67% of the company’s stock.
In other news, VP Bell Katherine Button sold 12,850 shares of the firm’s stock in a transaction that occurred on Tuesday, August 10th. The shares were sold at an average price of $101.21, for a total transaction of $1,300,548.50. Following the sale, the vice president now owns 27,659 shares of the company’s stock, valued at approximately $2,799,367.39. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.50% of the stock is currently owned by company insiders.
Emerson Electric (NYSE:EMR) last announced its earnings results on Wednesday, August 4th. The industrial products company reported $1.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.98 by $0.11. The company had revenue of $4.70 billion during the quarter, compared to analyst estimates of $4.58 billion. Emerson Electric had a net margin of 13.20% and a return on equity of 26.77%. The firm’s quarterly revenue was up 20.0% compared to the same quarter last year. During the same period in the previous year, the business posted $0.80 earnings per share. As a group, equities research analysts forecast that Emerson Electric Co. will post 4.08 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 10th. Shareholders of record on Friday, August 13th were issued a dividend of $0.505 per share. This represents a $2.02 annualized dividend and a yield of 2.20%. The ex-dividend date of this dividend was Thursday, August 12th. Emerson Electric’s payout ratio is 58.38%.
A number of research firms recently commented on EMR. Credit Suisse Group lifted their price target on Emerson Electric from $103.00 to $108.00 and gave the stock an “outperform” rating in a report on Thursday, August 5th. Deutsche Bank Aktiengesellschaft lifted their price target on Emerson Electric from $103.00 to $111.00 and gave the stock a “buy” rating in a report on Wednesday, July 14th. Cowen reiterated a “buy” rating on shares of Emerson Electric in a report on Tuesday, August 31st. Wells Fargo & Company began coverage on shares of Emerson Electric in a research report on Thursday, October 7th. They set an “equal weight” rating and a $99.00 price objective for the company. Finally, Zacks Investment Research upgraded shares of Emerson Electric from a “hold” rating to a “buy” rating and set a $109.00 price objective for the company in a research report on Thursday, August 12th. Three investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $99.57.
Emerson Electric Profile
Emerson Electric Co is a global technology and engineering company, which provides innovative solutions for customers in industrial, commercial and residential markets. It operates through the following business segments: Automation Solutions; Climate Technologies; and Tools and Home Products. The Automation Solutions segment offers products, integrated solutions, software and services which enable process, hybrid and discrete manufacturers to maximize production, protect personnel and the environment, reduce project costs, and optimize their energy efficiency and operating costs.
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