Payden & Rygel Has $31.70 Million Stock Holdings in Emerson Electric Co. (NYSE:EMR)

Payden & Rygel grew its position in shares of Emerson Electric Co. (NYSE:EMRGet Rating) by 0.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 323,280 shares of the industrial products company’s stock after buying an additional 1,900 shares during the quarter. Emerson Electric makes up about 1.6% of Payden & Rygel’s investment portfolio, making the stock its 22nd biggest position. Payden & Rygel owned 0.05% of Emerson Electric worth $31,698,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Huntington National Bank grew its stake in Emerson Electric by 0.7% during the fourth quarter. Huntington National Bank now owns 338,167 shares of the industrial products company’s stock worth $31,440,000 after buying an additional 2,319 shares during the last quarter. Gibson Wealth Advisors LLC bought a new stake in shares of Emerson Electric during the fourth quarter valued at approximately $37,000. California State Teachers Retirement System grew its stake in shares of Emerson Electric by 3.7% during the fourth quarter. California State Teachers Retirement System now owns 1,082,820 shares of the industrial products company’s stock valued at $100,670,000 after purchasing an additional 38,949 shares during the last quarter. Stonnington Group LLC grew its stake in shares of Emerson Electric by 4.4% during the first quarter. Stonnington Group LLC now owns 44,577 shares of the industrial products company’s stock valued at $4,154,000 after purchasing an additional 1,865 shares during the last quarter. Finally, Lincoln National Corp grew its stake in shares of Emerson Electric by 3.4% during the fourth quarter. Lincoln National Corp now owns 9,225 shares of the industrial products company’s stock valued at $858,000 after purchasing an additional 305 shares during the last quarter. 73.50% of the stock is currently owned by hedge funds and other institutional investors.

Shares of EMR stock traded down $0.38 on Thursday, hitting $78.09. 39,459 shares of the stock were exchanged, compared to its average volume of 2,648,495. The company has a current ratio of 1.68, a quick ratio of 1.38 and a debt-to-equity ratio of 0.77. The firm has a market capitalization of $46.39 billion, a P/E ratio of 16.42, a price-to-earnings-growth ratio of 1.80 and a beta of 1.42. The business has a 50-day moving average of $87.65 and a 200 day moving average of $91.92. Emerson Electric Co. has a fifty-two week low of $77.73 and a fifty-two week high of $105.99.

Emerson Electric (NYSE:EMRGet Rating) last issued its quarterly earnings results on Wednesday, May 4th. The industrial products company reported $1.29 EPS for the quarter, beating the consensus estimate of $1.18 by $0.11. Emerson Electric had a return on equity of 27.72% and a net margin of 15.16%. The firm had revenue of $4.80 billion during the quarter, compared to analysts’ expectations of $4.71 billion. During the same period in the prior year, the firm posted $0.97 earnings per share. The business’s quarterly revenue was up 8.3% compared to the same quarter last year. As a group, research analysts forecast that Emerson Electric Co. will post 5.06 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, June 10th. Investors of record on Friday, May 13th were given a dividend of $0.515 per share. The ex-dividend date was Thursday, May 12th. This represents a $2.06 annualized dividend and a yield of 2.64%. Emerson Electric’s dividend payout ratio (DPR) is presently 43.10%.

EMR has been the topic of a number of recent research reports. StockNews.com initiated coverage on shares of Emerson Electric in a research note on Thursday, March 31st. They issued a “buy” rating on the stock. Morgan Stanley reduced their price objective on shares of Emerson Electric from $101.00 to $95.00 and set an “equal weight” rating on the stock in a research note on Tuesday, May 31st. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Emerson Electric from $114.00 to $110.00 in a research note on Thursday, May 5th. Citigroup cut their target price on shares of Emerson Electric from $119.00 to $111.00 and set a “buy” rating on the stock in a report on Tuesday, May 17th. Finally, Oppenheimer cut their target price on shares of Emerson Electric from $115.00 to $110.00 in a report on Monday, May 9th. Five equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Emerson Electric presently has an average rating of “Moderate Buy” and a consensus price target of $105.12.

In related news, insider Mark J. Bulanda sold 4,574 shares of the stock in a transaction that occurred on Tuesday, March 29th. The stock was sold at an average price of $97.35, for a total transaction of $445,278.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.78% of the company’s stock.

About Emerson Electric (Get Rating)

Emerson Electric Co, a technology and engineering company, provides various solutions for customers in industrial, commercial, and residential markets in the Americas, Asia, the Middle East, Africa, and Europe. The company operates through Automation Solutions, and Commercial & Residential Solutions segments.

Further Reading

Institutional Ownership by Quarter for Emerson Electric (NYSE:EMR)

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