Cullen Frost Bankers Inc. reduced its stake in Emerson Electric Co. (NYSE:EMR) by 0.7% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 110,362 shares of the company’s stock after selling 735 shares during the period. Cullen Frost Bankers Inc.’s holdings in Emerson Electric were worth $5,757,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Arcadia Investment Management Corp MI boosted its position in Emerson Electric by 11.4% in the second quarter. Arcadia Investment Management Corp MI now owns 2,281 shares of the company’s stock valued at $119,000 after buying an additional 234 shares during the last quarter. Americafirst Capital Management LLC acquired a new position in Emerson Electric during the second quarter valued at about $128,000. Integrated Investment Consultants LLC boosted its position in Emerson Electric by 99.5% in the second quarter. Integrated Investment Consultants LLC now owns 2,530 shares of the company’s stock valued at $132,000 after buying an additional 1,262 shares during the last quarter. Oakworth Capital Inc. boosted its position in Emerson Electric by 405.6% in the second quarter. Oakworth Capital Inc. now owns 2,705 shares of the company’s stock valued at $141,000 after buying an additional 2,170 shares during the last quarter. Finally, Badgley Phelps & Bell Inc. acquired a new position in Emerson Electric during the first quarter valued at about $205,000. Hedge funds and other institutional investors own 69.40% of the company’s stock.
Emerson Electric Co. (NYSE:EMR) traded up 1.68% during trading on Wednesday, hitting $52.69. The stock had a trading volume of 2,824,116 shares. The firm has a market cap of $33.91 billion, a price-to-earnings ratio of 18.66 and a beta of 1.23. The firm’s 50 day moving average is $52.81 and its 200 day moving average is $53.39. Emerson Electric Co. has a 1-year low of $41.25 and a 1-year high of $56.82.
Emerson Electric (NYSE:EMR) last announced its earnings results on Tuesday, August 2nd. The company reported $0.80 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.84 by $0.04. The company had revenue of $5.10 billion for the quarter, compared to analyst estimates of $5.34 billion. Emerson Electric had a return on equity of 24.63% and a net margin of 8.96%. On average, analysts anticipate that Emerson Electric Co. will post $2.92 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 9th. Stockholders of record on Friday, August 12th were issued a dividend of $0.475 per share. The ex-dividend date was Wednesday, August 10th. This represents a $1.90 dividend on an annualized basis and a dividend yield of 3.61%. Emerson Electric’s dividend payout ratio is 67.38%.
Several research analysts have issued reports on EMR shares. Credit Suisse Group AG reiterated a “buy” rating on shares of Emerson Electric in a research report on Sunday, July 10th. Stifel Nicolaus lowered their target price on Emerson Electric from $60.00 to $58.00 and set a “buy” rating on the stock in a report on Wednesday, August 3rd. Barclays PLC reissued an “equal weight” rating and issued a $55.00 target price (down previously from $56.00) on shares of Emerson Electric in a report on Monday, July 18th. Oppenheimer Holdings Inc. reissued a “hold” rating on shares of Emerson Electric in a report on Wednesday, June 22nd. Finally, Deutsche Bank AG lowered their target price on Emerson Electric from $55.00 to $50.00 and set a “hold” rating on the stock in a report on Monday, August 8th. Five investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and four have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $52.82.
About Emerson Electric
Emerson Electric Co is engaged in offering technology and engineering together that provides solutions for customers in industrial, commercial, and consumer markets around the world. The company operates through five business segments: Process Management, Industrial Automation, Network Power, Climate Technologies, and Commercial & Residential Solutions.
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