State of Michigan Retirement System lifted its position in Emerson Electric Co. (NYSE:EMR) by 9.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 152,604 shares of the industrial products company’s stock after buying an additional 12,981 shares during the quarter. State of Michigan Retirement System’s holdings in Emerson Electric were worth $9,466,000 as of its most recent SEC filing.
A number of other large investors have also recently modified their holdings of EMR. Wellington Management Group LLP raised its stake in shares of Emerson Electric by 408.7% during the first quarter. Wellington Management Group LLP now owns 6,530,697 shares of the industrial products company’s stock valued at $311,186,000 after acquiring an additional 5,246,997 shares during the last quarter. APG Asset Management N.V. boosted its holdings in Emerson Electric by 145.0% in the first quarter. APG Asset Management N.V. now owns 3,526,642 shares of the industrial products company’s stock valued at $215,050,000 after acquiring an additional 2,086,941 shares during the last quarter. Fiduciary Management Inc. WI bought a new stake in shares of Emerson Electric in the 1st quarter valued at $91,299,000. Mackenzie Financial Corp boosted its stake in shares of Emerson Electric by 13,339.9% in the 1st quarter. Mackenzie Financial Corp now owns 1,336,465 shares of the industrial products company’s stock valued at $63,683,000 after purchasing an additional 1,326,521 shares during the last quarter. Finally, Alliancebernstein L.P. increased its position in shares of Emerson Electric by 68.0% during the first quarter. Alliancebernstein L.P. now owns 1,732,920 shares of the industrial products company’s stock worth $82,574,000 after buying an additional 701,677 shares during the period. Institutional investors and hedge funds own 71.50% of the company’s stock.
EMR opened at $62.01 on Friday. Emerson Electric Co. has a 1-year low of $37.75 and a 1-year high of $78.38. The company has a market cap of $37.05 billion, a price-to-earnings ratio of 17.37, a PEG ratio of 3.22 and a beta of 1.50. The company’s fifty day moving average price is $61.89 and its two-hundred day moving average price is $60.95. The company has a current ratio of 1.01, a quick ratio of 0.75 and a debt-to-equity ratio of 0.52.
A number of analysts have commented on the stock. Cowen reaffirmed a “hold” rating and set a $63.00 price target on shares of Emerson Electric in a research report on Wednesday, April 29th. Zacks Investment Research upgraded Emerson Electric from a “sell” rating to a “hold” rating and set a $60.00 target price on the stock in a research report on Tuesday, May 19th. Morgan Stanley lifted their target price on Emerson Electric from $54.00 to $59.00 and gave the stock an “equal weight” rating in a report on Tuesday, June 30th. Royal Bank of Canada cut their price target on Emerson Electric from $51.00 to $50.00 and set a “sector perform” rating on the stock in a report on Wednesday, April 22nd. Finally, TheStreet raised shares of Emerson Electric from a “c+” rating to a “b-” rating in a research report on Wednesday, June 17th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and five have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $64.93.
In other news, VP Bell Katherine Button sold 687 shares of the company’s stock in a transaction on Tuesday, June 23rd. The shares were sold at an average price of $62.27, for a total value of $42,779.49. Following the completion of the sale, the vice president now owns 29,741 shares in the company, valued at approximately $1,851,972.07. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Steven J. Pelch sold 5,061 shares of the stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $67.51, for a total transaction of $341,668.11. Insiders own 0.50% of the company’s stock.
Emerson Electric 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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