Eastern Bank Cuts Stock Holdings in Emerson Electric Co. $EMR

Eastern Bank lowered its position in shares of Emerson Electric Co. (NYSE:EMR) by 2.0% in the second quarter, Holdings Channel.com reports. The fund owned 374,375 shares of the industrial products company’s stock after selling 7,618 shares during the quarter. Eastern Bank’s holdings in Emerson Electric were worth $53,592,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in EMR. Basso Capital Management L.P. purchased a new stake in shares of Emerson Electric during the fourth quarter worth approximately $25,000. IFC & Insurance Marketing Inc. purchased a new position in Emerson Electric in the 4th quarter valued at $27,000. Motiv8 Investments LLC acquired a new stake in Emerson Electric during the 4th quarter worth $27,000. Ares Financial Consulting LLC purchased a new stake in shares of Emerson Electric during the fourth quarter worth $29,000. Finally, Darwin Wealth Management LLC acquired a new stake in shares of Emerson Electric in the second quarter valued at about $29,000. 74.30% of the stock is owned by institutional investors and hedge funds.

Emerson Electric Stock Up 3.4%

Shares of EMR opened at $154.95 on Tuesday. The company’s 50-day moving average price is $142.74 and its 200 day moving average price is $142.29. Emerson Electric Co. has a 12-month low of $122.64 and a 12-month high of $165.15. The company has a current ratio of 0.87, a quick ratio of 0.64 and a debt-to-equity ratio of 0.37. The firm has a market cap of $86.79 billion, a P/E ratio of 35.78, a price-to-earnings-growth ratio of 2.26 and a beta of 1.25.

Emerson Electric (NYSE:EMR) last announced its quarterly earnings results on Tuesday, May 5th. The industrial products company reported $1.54 earnings per share for the quarter, beating analysts’ consensus estimates of $1.53 by $0.01. The business had revenue of $4.56 billion during the quarter, compared to analysts’ expectations of $4.59 billion. Emerson Electric had a net margin of 13.35% and a return on equity of 17.18%. The business’s revenue for the quarter was up 2.9% on a year-over-year basis. During the same period last year, the business earned $1.48 earnings per share. On average, sell-side analysts forecast that Emerson Electric Co. will post 6.49 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on EMR shares. BMO Capital Markets boosted their price target on shares of Emerson Electric from $150.00 to $157.00 in a research report on Friday, May 8th. Wells Fargo & Company increased their price objective on shares of Emerson Electric from $135.00 to $155.00 and gave the company an “equal weight” rating in a report on Thursday, May 7th. Barclays raised their target price on shares of Emerson Electric from $140.00 to $144.00 and gave the stock an “equal weight” rating in a research note on Wednesday, May 6th. KeyCorp dropped their price target on Emerson Electric from $185.00 to $170.00 and set an “overweight” rating for the company in a research report on Monday, July 13th. Finally, Wolfe Research cut their price target on Emerson Electric from $176.00 to $169.00 and set an “outperform” rating for the company in a report on Wednesday, April 8th. Thirteen analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $162.36.

About Emerson Electric

Emerson Electric Co is a global technology and engineering company that designs and manufactures products and provides services for industrial, commercial and consumer markets. Founded in 1890, the company is headquartered in St. Louis, Missouri, and has built a long-standing presence in automation, control and climate-related technologies. Emerson’s offerings are aimed at improving productivity, energy efficiency and reliability for a wide range of end markets.

Emerson operates through two principal platforms—Automation Solutions and Commercial & Residential Solutions—providing process automation systems, measurement and analytical instrumentation, valves and actuators, control software, and related aftermarket services, alongside products for heating, ventilation and refrigeration, residential and commercial climate controls, tools and storage solutions.