Nomura Asset Management Co. Ltd. increased its holdings in Emerson Electric Co. (NYSE:EMR) by 8.6% in the fourth quarter, HoldingsChannel.com reports. The fund owned 101,259 shares of the industrial products company’s stock after purchasing an additional 8,013 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in Emerson Electric were worth $7,057,000 as of its most recent SEC filing.
Other large investors have also added to or reduced their stakes in the company. Tower Research Capital LLC TRC purchased a new stake in Emerson Electric in the second quarter worth about $109,000. Cerebellum GP LLC purchased a new stake in Emerson Electric in the fourth quarter worth about $129,000. Intellectus Partners LLC lifted its stake in Emerson Electric by 0.3% in the second quarter. Intellectus Partners LLC now owns 2,094 shares of the industrial products company’s stock worth $125,000 after acquiring an additional 7 shares during the period. Global Trust Asset Management LLC purchased a new stake in Emerson Electric in the fourth quarter worth about $146,000. Finally, Mountain Capital Investment Advisors Inc purchased a new stake in Emerson Electric in the second quarter worth about $129,000. 69.25% of the stock is owned by institutional investors.
In other news, VP Bell Katherine Button sold 7,518 shares of the company’s stock in a transaction dated Monday, December 11th. The shares were sold at an average price of $66.36, for a total transaction of $498,894.48. Following the transaction, the vice president now owns 36,877 shares in the company, valued at $2,447,157.72. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.79% of the company’s stock.
Emerson Electric (NYSE:EMR) last posted its quarterly earnings data on Tuesday, February 6th. The industrial products company reported $0.58 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.54 by $0.04. Emerson Electric had a net margin of 10.09% and a return on equity of 20.73%. The firm had revenue of $3.82 billion for the quarter, compared to the consensus estimate of $3.72 billion. During the same quarter in the prior year, the company posted $0.49 earnings per share. The company’s revenue for the quarter was up 18.7% compared to the same quarter last year. equities research analysts predict that Emerson Electric Co. will post 3.11 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, March 9th. Stockholders of record on Friday, February 16th were issued a dividend of $0.485 per share. The ex-dividend date was Thursday, February 15th. This represents a $1.94 annualized dividend and a dividend yield of 2.68%. Emerson Electric’s dividend payout ratio (DPR) is currently 76.38%.
EMR has been the subject of a number of research reports. Edward Jones lowered shares of Emerson Electric from a “buy” rating to a “hold” rating in a research note on Friday, November 17th. Cowen reaffirmed a “buy” rating and issued a $72.00 price objective on shares of Emerson Electric in a research note on Wednesday, December 20th. UBS Group initiated coverage on shares of Emerson Electric in a research note on Monday, January 22nd. They issued a “buy” rating and a $73.26 price objective for the company. Citigroup set a $61.00 price objective on shares of Emerson Electric and gave the stock a “sell” rating in a research note on Tuesday, November 28th. Finally, Vertical Research raised shares of Emerson Electric from a “hold” rating to a “buy” rating in a research report on Tuesday, January 2nd. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and nine have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $70.72.
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About Emerson Electric
Emerson Electric Co is a diversified global manufacturing company, which provides solutions to customers by bringing technology and engineering together in the industrial, commercial and consumer markets around the world. The Company operates through four segments based on the nature of the products and services rendered: Process Management, Industrial Automation, Climate Technologies and Commercial & Residential Solutions.
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