Boston Private Wealth LLC lowered its stake in shares of Emerson Electric Company (NYSE:EMR) by 3.6% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 40,621 shares of the industrial products company’s stock after selling 1,525 shares during the quarter. Boston Private Wealth LLC’s holdings in Emerson Electric were worth $2,422,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds also recently added to or reduced their stakes in EMR. Oppenheimer Asset Management Inc. acquired a new stake in Emerson Electric during the first quarter worth approximately $127,000. AT Bancorp acquired a new stake in Emerson Electric during the second quarter worth approximately $139,000. Harbour Capital Advisors LLC acquired a new stake in Emerson Electric during the first quarter worth approximately $147,000. Guardian Life Insurance Co. of America raised its holdings in Emerson Electric by 1.1% during the first quarter. Guardian Life Insurance Co. of America now owns 2,491 shares of the industrial products company’s stock worth $149,000 after purchasing an additional 28 shares in the last quarter. Finally, Perkins Coie Trust Co acquired a new stake in Emerson Electric during the second quarter worth approximately $150,000. 70.03% of the stock is currently owned by institutional investors.
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In other news, insider Robert T. Sharp sold 2,000 shares of the firm’s stock in a transaction on Thursday, August 31st. The stock was sold at an average price of $58.99, for a total transaction of $117,980.00. Following the transaction, the insider now directly owns 64,290 shares of the company’s stock, valued at $3,792,467.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.79% of the stock is currently owned by company insiders.
A number of equities analysts have recently commented on the stock. Cowen and Company raised shares of Emerson Electric from a “market perform” rating to an “outperform” rating in a report on Tuesday. Zacks Investment Research cut shares of Emerson Electric from a “hold” rating to a “sell” rating in a report on Tuesday. Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $62.00 target price (up from $61.00) on shares of Emerson Electric in a report on Wednesday, August 2nd. Berenberg Bank reaffirmed a “sell” rating and issued a $53.00 target price on shares of Emerson Electric in a report on Friday, August 11th. Finally, Morgan Stanley reaffirmed an “overweight” rating on shares of Emerson Electric in a report on Tuesday, July 11th. Five analysts have rated the stock with a sell rating, nine have issued a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $62.17.
Emerson Electric Company (NYSE:EMR) opened at 65.51 on Thursday. The company has a 50-day moving average of $62.52 and a 200-day moving average of $60.20. Emerson Electric Company has a 52-week low of $49.38 and a 52-week high of $65.81. The stock has a market capitalization of $41.93 billion, a price-to-earnings ratio of 29.23 and a beta of 1.22.
Emerson Electric (NYSE:EMR) last issued its earnings results on Tuesday, August 1st. The industrial products company reported $0.68 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.68. Emerson Electric had a return on equity of 22.32% and a net margin of 8.89%. The firm had revenue of $4.04 billion for the quarter, compared to analyst estimates of $3.99 billion. During the same period last year, the company earned $0.68 earnings per share. The firm’s revenue for the quarter was up 9.9% on a year-over-year basis. Equities research analysts expect that Emerson Electric Company will post $2.61 EPS for the current year.
Emerson Electric Company Profile
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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