Webster Bank N. A. trimmed its stake in shares of Emerson Electric Co. (NYSE:EMR) by 1.2% in the 4th quarter, HoldingsChannel reports. The firm owned 24,762 shares of the industrial products company’s stock after selling 313 shares during the quarter. Webster Bank N. A.’s holdings in Emerson Electric were worth $1,888,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Nuveen Asset Management LLC lifted its stake in Emerson Electric by 8,529.0% in the 2nd quarter. Nuveen Asset Management LLC now owns 2,314,570 shares of the industrial products company’s stock worth $154,428,000 after acquiring an additional 2,287,747 shares in the last quarter. Morgan Stanley lifted its stake in Emerson Electric by 41.3% in the 2nd quarter. Morgan Stanley now owns 6,534,287 shares of the industrial products company’s stock worth $435,968,000 after acquiring an additional 1,909,769 shares in the last quarter. Senator Investment Group LP purchased a new stake in Emerson Electric in the 2nd quarter worth about $86,736,000. Marshall Wace North America L.P. lifted its stake in Emerson Electric by 16,479.1% in the 2nd quarter. Marshall Wace North America L.P. now owns 490,411 shares of the industrial products company’s stock worth $32,720,000 after acquiring an additional 487,453 shares in the last quarter. Finally, AQR Capital Management LLC increased its position in Emerson Electric by 43.5% in the 2nd quarter. AQR Capital Management LLC now owns 1,583,942 shares of the industrial products company’s stock worth $105,680,000 after purchasing an additional 479,849 shares during the last quarter. 70.55% of the stock is owned by institutional investors and hedge funds.
Several research analysts have weighed in on the company. Cowen lowered Emerson Electric from an “outperform” rating to a “market perform” rating and set a $72.00 target price on the stock. in a research report on Wednesday, November 6th. HSBC lowered Emerson Electric from a “hold” rating to a “reduce” rating and set a $64.00 target price on the stock. in a research report on Thursday, November 14th. Credit Suisse Group raised Emerson Electric from a “neutral” rating to an “outperform” rating in a research report on Friday, January 3rd. Citigroup upped their target price on Emerson Electric from $77.00 to $83.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Finally, Morgan Stanley upped their target price on Emerson Electric from $82.00 to $85.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 11th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and seven have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $76.25.
Shares of NYSE EMR traded down $0.08 during mid-day trading on Tuesday, reaching $77.31. 535,981 shares of the company traded hands, compared to its average volume of 2,456,053. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.88 and a current ratio of 1.19. The stock has a market cap of $46.87 billion, a PE ratio of 20.95, a price-to-earnings-growth ratio of 2.67 and a beta of 1.38. The company’s fifty day moving average is $75.82 and its two-hundred day moving average is $68.12. Emerson Electric Co. has a fifty-two week low of $55.98 and a fifty-two week high of $77.98.
Emerson Electric (NYSE:EMR) last issued its quarterly earnings data on Tuesday, November 5th. The industrial products company reported $1.07 EPS for the quarter, meeting the Zacks’ consensus estimate of $1.07. The business had revenue of $4.97 billion for the quarter, compared to analyst estimates of $5.02 billion. Emerson Electric had a return on equity of 26.32% and a net margin of 12.55%. The firm’s revenue for the quarter was up 1.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.89 EPS. Research analysts forecast that Emerson Electric Co. will post 3.63 earnings per share for the current year.
In other Emerson Electric news, insider Robert T. Sharp sold 7,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $76.13, for a total value of $532,910.00. Following the sale, the insider now owns 131,315 shares of the company’s stock, valued at approximately $9,997,010.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Frank J. Dellaquila sold 40,817 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $73.73, for a total value of $3,009,437.41. Following the completion of the sale, the chief financial officer now directly owns 278,803 shares in the company, valued at approximately $20,556,145.19. The disclosure for this sale can be found here. In the last three months, insiders have sold 63,565 shares of company stock worth $4,701,330. 0.50% of the stock is currently owned by insiders.
Emerson Electric Company Profile
Emerson Electric Co, a technology and engineering company, provides various solutions to industrial, commercial, and consumer markets worldwide. The company's Automation Solutions segment offers products and integrated solutions, including measurement and analytical instrumentation; valves, actuators, and regulators; industrial solutions; and process control systems and solutions.
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