Benedict Financial Advisors Inc. boosted its stake in shares of Emerson Electric Co. (NYSE:EMR) by 3.4% during the second quarter, Holdings Channel reports. The firm owned 44,174 shares of the company’s stock after buying an additional 1,452 shares during the period. Benedict Financial Advisors Inc.’s holdings in Emerson Electric were worth $2,306,000 as of its most recent filing with the SEC.
A number of other large investors have also recently bought and sold shares of the stock. ING Groep NV bought a new position in Emerson Electric during the second quarter worth $315,000. Dividend Assets Capital LLC increased its position in Emerson Electric by 43.9% in the second quarter. Dividend Assets Capital LLC now owns 9,870 shares of the company’s stock worth $515,000 after buying an additional 3,010 shares in the last quarter. Ramsay Stattman Vela & Price Inc. increased its position in Emerson Electric by 0.7% in the second quarter. Ramsay Stattman Vela & Price Inc. now owns 88,543 shares of the company’s stock worth $4,618,000 after buying an additional 615 shares in the last quarter. First Midwest Bank Trust Division increased its position in Emerson Electric by 19.7% in the second quarter. First Midwest Bank Trust Division now owns 34,580 shares of the company’s stock worth $1,804,000 after buying an additional 5,698 shares in the last quarter. Finally, Alps Advisors Inc. increased its position in Emerson Electric by 16.6% in the second quarter. Alps Advisors Inc. now owns 506,477 shares of the company’s stock worth $26,418,000 after buying an additional 71,951 shares in the last quarter. Hedge funds and other institutional investors own 69.40% of the company’s stock.
Shares of Emerson Electric Co. (NYSE:EMR) traded down 1.30% during trading on Monday, reaching $53.80. 3,814,274 shares of the company were exchanged. Emerson Electric Co. has a 1-year low of $41.25 and a 1-year high of $56.82. The company has a market capitalization of $34.62 billion, a price-to-earnings ratio of 19.05 and a beta of 1.19. The stock’s 50 day moving average is $52.78 and its 200 day moving average is $53.45.
Emerson Electric (NYSE:EMR) last posted its quarterly earnings results on Tuesday, August 2nd. The company reported $0.80 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.84 by $0.04. The firm earned $5.10 billion during the quarter, compared to the consensus estimate of $5.34 billion. Emerson Electric had a return on equity of 24.63% and a net margin of 8.96%. Equities analysts anticipate that Emerson Electric Co. will post $2.92 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 9th. Shareholders of record on Friday, August 12th were given a $0.475 dividend. The ex-dividend date was Wednesday, August 10th. This represents a $1.90 dividend on an annualized basis and a dividend yield of 3.53%. Emerson Electric’s payout ratio is currently 67.38%.
A number of research analysts have recently weighed in on EMR shares. Buckingham Research downgraded shares of Emerson Electric from a “neutral” rating to an “underperform” rating and reduced their target price for the company from $49.00 to $44.00 in a research report on Friday, August 19th. Deutsche Bank AG reissued a “hold” rating and set a $53.00 target price on shares of Emerson Electric in a research report on Thursday, August 25th. Credit Suisse Group AG downgraded shares of Emerson Electric from an “outperform” rating to a “neutral” rating and set a $57.00 target price for the company. in a research report on Friday, August 19th. They noted that the move was a valuation call. Bank of America Corp. reissued a “sell” rating on shares of Emerson Electric in a research report on Wednesday, June 22nd. Finally, Oppenheimer Holdings Inc. reissued a “hold” rating on shares of Emerson Electric in a research report on Wednesday, June 22nd. Six investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and four have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $52.17.
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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