Kornitzer Capital Management Inc. KS Grows Stake in Emerson Electric Co. (NYSE:EMR)

Kornitzer Capital Management Inc. KS boosted its holdings in shares of Emerson Electric Co. (NYSE:EMR) by 0.3% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 149,498 shares of the industrial products company’s stock after buying an additional 505 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in Emerson Electric were worth $16,351,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in EMR. Newport Trust Company LLC bought a new position in shares of Emerson Electric in the 2nd quarter worth $574,908,000. Legal & General Group Plc grew its position in Emerson Electric by 5.2% during the second quarter. Legal & General Group Plc now owns 4,510,496 shares of the industrial products company’s stock valued at $496,877,000 after acquiring an additional 224,784 shares during the last quarter. Van ECK Associates Corp lifted its holdings in shares of 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 acquiring an additional 2,016,075 shares during the last quarter. DekaBank Deutsche Girozentrale raised its position in Emerson Electric by 3.3% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 2,738,701 shares of the industrial products company’s stock worth $297,653,000 after purchasing an additional 88,294 shares during the period. Finally, Swedbank AB grew its stake in shares of Emerson Electric by 127.3% during the third quarter. Swedbank AB now owns 2,544,439 shares of the industrial products company’s stock valued at $278,285,000 after buying an additional 1,424,800 shares during the last quarter. 74.30% of the stock is currently owned by hedge funds and other institutional investors.

Emerson Electric Stock Performance

EMR stock traded down $1.06 on Thursday, hitting $125.80. The company had a trading volume of 245,267 shares, compared to its average volume of 2,716,879. The stock’s 50-day simple moving average is $107.50 and its 200 day simple moving average is $109.05. The stock has a market cap of $72.05 billion, a price-to-earnings ratio of 42.57, a P/E/G ratio of 1.68 and a beta of 1.30. The company has a current ratio of 1.16, a quick ratio of 0.86 and a debt-to-equity ratio of 0.27. Emerson Electric Co. has a 12-month low of $84.61 and a 12-month high of $127.74.

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

Emerson Electric Increases Dividend

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

Analyst Upgrades and Downgrades

Several research firms recently issued reports on EMR. Oppenheimer raised their target price on Emerson Electric from $120.00 to $125.00 and gave the stock an “outperform” rating in a research note on Thursday, September 26th. JPMorgan Chase & Co. downgraded shares of Emerson Electric from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $132.00 to $115.00 in a research note on Wednesday, August 14th. Barclays lifted their price objective on Emerson Electric from $103.00 to $116.00 and gave the company an “equal weight” rating in a research report on Wednesday. KeyCorp upped their price target on Emerson Electric from $125.00 to $140.00 and gave the stock an “overweight” rating in a research note on Wednesday. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on Emerson Electric from $136.00 to $140.00 and gave the company a “buy” rating in a research report on Wednesday. One analyst has rated the stock with a sell rating, five have issued a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $127.65.

Emerson Electric Company 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.