Emerson Electric Co. (NYSE:EMR) Short Interest Update
Emerson Electric Co. (NYSE:EMR – Get Rating) saw a significant drop in short interest during the month of March. As of March 31st, there was short interest totalling 4,380,000 shares, a drop of 34.3% from the March 15th total of 6,670,000 shares. Based on an average daily trading volume, of 3,410,000 shares, the days-to-cover ratio is presently 1.3 days. Approximately 0.7% of the shares of the company are sold short.
NYSE EMR opened at $92.86 on Friday. The company has a quick ratio of 1.60, a current ratio of 2.04 and a debt-to-equity ratio of 0.85. The company has a fifty day moving average of $94.85 and a two-hundred day moving average of $94.47. The firm has a market capitalization of $55.24 billion, a price-to-earnings ratio of 20.28, a PEG ratio of 2.13 and a beta of 1.46. Emerson Electric has a 52 week low of $86.72 and a 52 week high of $105.99.
Emerson Electric (NYSE:EMR – Get Rating) last issued its earnings results on Wednesday, February 2nd. The industrial products company reported $1.05 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.99 by $0.06. The firm had revenue of $4.47 billion during the quarter, compared to analyst estimates of $4.48 billion. Emerson Electric had a net margin of 14.85% and a return on equity of 26.84%. The business’s revenue was up 7.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.83 earnings per share. Equities research analysts anticipate that Emerson Electric will post 4.99 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Thursday, March 10th. Stockholders of record on Friday, February 11th were paid a dividend of $0.515 per share. This represents a $2.06 dividend on an annualized basis and a dividend yield of 2.22%. The ex-dividend date of this dividend was Thursday, February 10th. Emerson Electric’s dividend payout ratio is currently 44.98%.
In related news, insider Mark J. Bulanda sold 4,574 shares of the firm’s stock in a transaction that occurred on Tuesday, March 29th. The shares were sold at an average price of $97.35, for a total value of $445,278.90. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 0.78% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the company. TownSquare Capital LLC boosted its stake in shares of Emerson Electric by 24.1% during the third quarter. TownSquare Capital LLC now owns 17,628 shares of the industrial products company’s stock valued at $1,661,000 after purchasing an additional 3,419 shares during the period. Huntington National Bank raised its holdings in shares of Emerson Electric by 0.7% in the fourth quarter. Huntington National Bank now owns 338,167 shares of the industrial products company’s stock valued at $31,440,000 after acquiring an additional 2,319 shares in the last quarter. Lincoln National Corp raised its holdings in shares of Emerson Electric by 3.4% in the fourth quarter. Lincoln National Corp now owns 9,225 shares of the industrial products company’s stock valued at $858,000 after acquiring an additional 305 shares in the last quarter. Nicola Wealth Management LTD. raised its holdings in shares of Emerson Electric by 28.3% in the third quarter. Nicola Wealth Management LTD. now owns 68,000 shares of the industrial products company’s stock valued at $6,406,000 after acquiring an additional 15,000 shares in the last quarter. Finally, Easterly Investment Partners LLC raised its holdings in shares of Emerson Electric by 738.2% in the third quarter. Easterly Investment Partners LLC now owns 53,427 shares of the industrial products company’s stock valued at $5,033,000 after acquiring an additional 47,053 shares in the last quarter. 72.61% of the stock is owned by hedge funds and other institutional investors.
A number of equities research analysts have commented on EMR shares. Royal Bank of Canada upgraded shares of Emerson Electric from a “sector perform” rating to an “outperform” rating and raised their target price for the stock from $104.00 to $116.00 in a research note on Tuesday, January 4th. Oppenheimer upgraded shares of Emerson Electric from a “market perform” rating to an “outperform” rating and set a $110.00 target price on the stock in a research note on Wednesday, March 9th. StockNews.com started coverage on shares of Emerson Electric in a research note on Thursday, March 31st. They set a “buy” rating on the stock. Barclays raised their target price on shares of Emerson Electric from $98.00 to $99.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 4th. Finally, Sanford C. Bernstein initiated coverage on shares of Emerson Electric in a research report on Monday, January 10th. They set a “market perform” rating and a $100.00 price objective on the stock. Five equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $108.42.
Emerson Electric Company Profile (Get Rating)
Emerson Electric Co designs and manufactures technology and engineering products for industrial, commercial, and consumer markets worldwide. The company operates through Automation Solutions and Commercial & Residential Solutions segments. The Automation Solutions segment offers measurement and analytical instrumentation, industrial valves and equipment, and process control software and systems.
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