Kornitzer Capital Management Inc. KS Increases Position in Emerson Electric Co. (NYSE:EMR)

Kornitzer Capital Management Inc. KS increased its position in Emerson Electric Co. (NYSE:EMR) by 0.3% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 149,498 shares of the industrial products company’s stock after buying an additional 505 shares during the quarter. Kornitzer Capital Management Inc. KS’s holdings in Emerson Electric were worth $16,351,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Newport Trust Company LLC bought a new position in shares of Emerson Electric in the second quarter worth about $574,908,000. Legal & General Group Plc lifted its holdings in Emerson Electric by 5.2% in the 2nd quarter. Legal & General Group Plc now owns 4,510,496 shares of the industrial products company’s stock worth $496,877,000 after purchasing an additional 224,784 shares in the last quarter. Van ECK Associates Corp boosted its stake in Emerson Electric by 107.2% in the 3rd quarter. Van ECK Associates Corp now owns 3,896,889 shares of the industrial products company’s stock worth $422,852,000 after purchasing an additional 2,016,075 shares during the period. DekaBank Deutsche Girozentrale boosted its position in shares of Emerson Electric by 3.3% during the third quarter. DekaBank Deutsche Girozentrale now owns 2,738,701 shares of the industrial products company’s stock worth $297,653,000 after acquiring an additional 88,294 shares during the last quarter. Finally, Swedbank AB lifted its stake in Emerson Electric by 127.3% in the 3rd quarter. Swedbank AB now owns 2,544,439 shares of the industrial products company’s stock worth $278,285,000 after purchasing an additional 1,424,800 shares in the last quarter. Hedge funds and other institutional investors own 74.30% of the company’s stock.

Emerson Electric Stock Down 0.8 %

Shares of EMR traded down $1.06 during mid-day trading on Thursday, hitting $125.80. 245,267 shares of the company traded hands, compared to its average volume of 2,716,879. The business has a 50 day moving average of $107.50 and a 200 day moving average of $109.05. Emerson Electric Co. has a 1-year low of $84.61 and a 1-year high of $127.74. The company has a market capitalization of $72.05 billion, a PE ratio of 42.57, a price-to-earnings-growth ratio of 1.68 and a beta of 1.30. The company has a quick ratio of 0.86, a current ratio of 1.16 and a debt-to-equity ratio of 0.27.

Emerson Electric (NYSE:EMR) last released its quarterly earnings results on Wednesday, August 7th. The industrial products company reported $1.43 earnings per share for the quarter, topping analysts’ consensus estimates of $1.42 by $0.01. The company had revenue of $4.38 billion during the quarter, compared to analysts’ expectations of $4.44 billion. Emerson Electric had a return on equity of 11.41% and a net margin of 10.12%. Emerson Electric’s quarterly revenue was up 11.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.29 EPS. Equities research analysts anticipate that Emerson Electric Co. will post 5.48 EPS for the current year.

Emerson Electric Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Friday, November 15th will be given a dividend of $0.5275 per share. This is a positive change from Emerson Electric’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend is Friday, November 15th. This represents a $2.11 dividend on an annualized basis and a dividend yield of 1.68%. Emerson Electric’s dividend payout ratio (DPR) is 70.47%.

Analyst Upgrades and Downgrades

EMR has been the topic of several analyst reports. KeyCorp boosted their price objective on Emerson Electric from $125.00 to $140.00 and gave the stock an “overweight” rating in a research note on Wednesday. Stephens cut shares of Emerson Electric from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $135.00 to $120.00 in a research note on Wednesday, October 16th. Morgan Stanley initiated coverage on shares of Emerson Electric in a research report on Friday, September 6th. They issued an “underweight” rating and a $105.00 price objective on the stock. Deutsche Bank Aktiengesellschaft increased their price target on Emerson Electric from $136.00 to $140.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, Wells Fargo & Company boosted their price objective on Emerson Electric from $128.00 to $135.00 and gave the company an “overweight” rating in a report on Wednesday. One investment analyst has rated the stock with a sell rating, five have given a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Emerson Electric currently has a consensus rating of “Moderate Buy” and a consensus target price of $127.65.

Emerson Electric Profile

Emerson Electric Co, a technology and software company, provides various solutions for customers in industrial, commercial, and consumer markets in the Americas, Asia, the Middle East, Africa, and Europe. It operates in six segments: Final Control, Control Systems & Software, Measurement & Analytical, AspenTech, Discrete Automation, and Safety & Productivity.