Leavell Investment Management Inc. lowered its position in shares of Emerson Electric Co. (NYSE:EMR) by 14.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 49,322 shares of the industrial products company’s stock after selling 8,583 shares during the quarter. Leavell Investment Management Inc.’s holdings in Emerson Electric were worth $3,234,000 as of its most recent SEC filing.
A number of other large investors have also recently modified their holdings of EMR. Keebeck Wealth Management LLC purchased a new stake in Emerson Electric in the second quarter worth about $30,000. Independence Bank of Kentucky increased its holdings in Emerson Electric by 150.0% in the 2nd quarter. Independence Bank of Kentucky now owns 750 shares of the industrial products company’s stock worth $47,000 after buying an additional 450 shares during the period. Sound Income Strategies LLC increased its holdings in Emerson Electric by 493.8% in the 2nd quarter. Sound Income Strategies LLC now owns 962 shares of the industrial products company’s stock worth $60,000 after buying an additional 800 shares during the period. Demars Financial Group LLC acquired a new position in Emerson Electric in the 2nd quarter worth approximately $60,000. Finally, Harel Insurance Investments & Financial Services Ltd. acquired a new position in Emerson Electric in the 2nd quarter worth approximately $62,000. 72.37% of the stock is currently owned by institutional investors and hedge funds.
Shares of NYSE:EMR opened at $64.99 on Thursday. Emerson Electric Co. has a 1 year low of $37.75 and a 1 year high of $78.38. The firm has a market capitalization of $38.84 billion, a price-to-earnings ratio of 20.31, a price-to-earnings-growth ratio of 2.65 and a beta of 1.50. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.32 and a quick ratio of 0.97. The business’s 50 day moving average price is $67.79 and its 200-day moving average price is $62.79.
Emerson Electric (NYSE:EMR) last announced its quarterly earnings data on Tuesday, August 4th. The industrial products company reported $0.80 earnings per share for the quarter, beating analysts’ consensus estimates of $0.61 by $0.19. The company had revenue of $3.91 billion for the quarter, compared to analyst estimates of $3.90 billion. Emerson Electric had a return on equity of 26.12% and a net margin of 11.39%. The firm’s revenue for the quarter was down 16.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.94 EPS. On average, sell-side analysts expect that Emerson Electric Co. will post 3.31 earnings per share for the current year.
A number of brokerages have recently commented on EMR. Stephens began coverage on shares of Emerson Electric in a research note on Thursday, October 15th. They set an “overweight” rating on the stock. JPMorgan Chase & Co. raised their price objective on shares of Emerson Electric from $80.00 to $85.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 7th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Emerson Electric from $66.00 to $72.00 and gave the stock a “hold” rating in a research note on Tuesday, October 13th. Berenberg Bank began coverage on shares of Emerson Electric in a research note on Thursday, August 20th. They set a “buy” rating and a $83.00 price objective on the stock. Finally, Cowen reaffirmed a “buy” rating on shares of Emerson Electric in a research note on Sunday, October 4th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $67.81.
About Emerson Electric
Emerson Electric Co, a technology and engineering company, provides solutions to industrial, commercial, and consumer markets worldwide. It operates through Automation Solutions and Commercial & Residential Solutions segments. The Automation Solutions segment offers measurement and analytical instrumentation, industrial valves and equipment, and process control software and systems.
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