Gabelli Funds LLC held its stake in shares of Emerson Electric Company (NYSE:EMR) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,000 shares of the industrial products company’s stock at the end of the first quarter. Gabelli Funds LLC’s holdings in Emerson Electric were worth $1,018,000 at the end of the most recent quarter.
Other large investors also recently made changes to their positions in the company. Norges Bank bought a new stake in shares of Emerson Electric during the fourth quarter worth $269,944,000. Renaissance Technologies LLC bought a new stake in shares of Emerson Electric during the fourth quarter worth $88,748,000. Asset Management One Co. Ltd. raised its stake in shares of Emerson Electric by 714.4% in the fourth quarter. Asset Management One Co. Ltd. now owns 1,118,707 shares of the industrial products company’s stock worth $62,405,000 after buying an additional 981,346 shares during the last quarter. American Century Companies Inc. raised its stake in shares of Emerson Electric by 19.4% in the first quarter. American Century Companies Inc. now owns 4,338,862 shares of the industrial products company’s stock worth $259,724,000 after buying an additional 705,924 shares during the last quarter. Finally, UBS Asset Management Americas Inc. raised its stake in shares of Emerson Electric by 28.8% in the first quarter. UBS Asset Management Americas Inc. now owns 2,418,472 shares of the industrial products company’s stock worth $144,770,000 after buying an additional 540,927 shares during the last quarter. Institutional investors own 68.88% of the company’s stock.
Emerson Electric Company (NYSE:EMR) traded down 0.63% during midday trading on Friday, hitting $59.53. 2,887,463 shares of the stock were exchanged. The firm has a 50-day moving average price of $59.85 and a 200-day moving average price of $59.67. The stock has a market cap of $38.37 billion, a P/E ratio of 25.43 and a beta of 1.20. Emerson Electric Company has a one year low of $49.22 and a one year high of $64.36.
Emerson Electric (NYSE:EMR) last released its quarterly earnings results on Tuesday, May 2nd. The industrial products company reported $0.58 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.58. The business had revenue of $3.57 billion during the quarter, compared to the consensus estimate of $3.49 billion. Emerson Electric had a return on equity of 23.37% and a net margin of 8.72%. The business’s revenue was down .1% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.57 EPS. On average, equities research analysts anticipate that Emerson Electric Company will post $2.60 EPS for the current fiscal year.
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A number of equities research analysts recently weighed in on EMR shares. TheStreet upgraded shares of Emerson Electric from a “c+” rating to a “b” rating in a report on Thursday, May 4th. Stifel Nicolaus restated a “buy” rating and issued a $67.00 price target (up previously from $65.00) on shares of Emerson Electric in a report on Monday, May 15th. Zacks Investment Research lowered shares of Emerson Electric from a “buy” rating to a “hold” rating in a report on Friday, May 5th. JMP Securities started coverage on shares of Emerson Electric in a research report on Monday, June 19th. They issued an “outperform” rating and a $70.00 price objective on the stock. Finally, Royal Bank Of Canada reaffirmed a “hold” rating and issued a $58.00 price objective on shares of Emerson Electric in a research report on Tuesday, April 11th. Four investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and three have given a buy rating to the company’s stock. Emerson Electric currently has a consensus rating of “Hold” and an average price target of $56.96.
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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