Gofen & Glossberg LLC IL bought a new position in Emerson Electric Co. (NYSE:EMR) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 80,229 shares of the industrial products company’s stock, valued at approximately $5,547,000.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Clarus Wealth Advisors bought a new stake in shares of Emerson Electric during the second quarter worth approximately $100,000. G&S Capital LLC bought a new stake in shares of Emerson Electric during the fourth quarter worth approximately $101,000. W.G. Shaheen & Associates DBA Whitney & Co bought a new stake in shares of Emerson Electric during the first quarter worth approximately $102,000. Stelac Advisory Services LLC bought a new stake in shares of Emerson Electric during the first quarter worth approximately $120,000. Finally, Well Done LLC bought a new stake in shares of Emerson Electric during the first quarter worth approximately $142,000. 69.60% of the stock is owned by institutional investors.
A number of equities research analysts recently weighed in on EMR shares. Stifel Nicolaus boosted their price target on shares of Emerson Electric from $79.00 to $80.00 and gave the stock a “buy” rating in a research note on Thursday, May 3rd. Cowen reissued a “buy” rating and set a $78.00 price target on shares of Emerson Electric in a research note on Wednesday, April 18th. Zacks Investment Research raised shares of Emerson Electric from a “hold” rating to a “buy” rating and set a $77.00 price target for the company in a research note on Tuesday, April 17th. ValuEngine raised shares of Emerson Electric from a “hold” rating to a “buy” rating in a research note on Monday, July 2nd. Finally, Berenberg Bank raised shares of Emerson Electric from a “sell” rating to a “hold” rating and set a $69.00 price target for the company in a research note on Tuesday, April 24th. They noted that the move was a valuation call. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and ten have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $73.00.
In other Emerson Electric news, insider Michael H. Train sold 24,166 shares of the company’s stock in a transaction that occurred on Monday, June 18th. The shares were sold at an average price of $71.46, for a total value of $1,726,902.36. Following the completion of the sale, the insider now owns 121,626 shares of the company’s stock, valued at $8,691,393.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.79% of the stock is currently owned by corporate insiders.
Shares of NYSE:EMR opened at $69.07 on Thursday. Emerson Electric Co. has a 52 week low of $57.47 and a 52 week high of $74.45. The company has a quick ratio of 0.98, a current ratio of 1.30 and a debt-to-equity ratio of 0.39. The company has a market capitalization of $44.73 billion, a price-to-earnings ratio of 24.91, a PEG ratio of 2.11 and a beta of 1.18.
Emerson Electric (NYSE:EMR) last issued its earnings results on Tuesday, May 1st. The industrial products company reported $0.76 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.72 by $0.04. Emerson Electric had a net margin of 10.83% and a return on equity of 21.69%. The firm had revenue of $4.25 billion during the quarter, compared to the consensus estimate of $4.22 billion. During the same quarter in the prior year, the firm earned $0.45 earnings per share. The business’s quarterly revenue was up 18.9% on a year-over-year basis. research analysts anticipate that Emerson Electric Co. will post 3.18 EPS for the current year.
About Emerson Electric
Emerson Electric Co, a technology and engineering company, provides various solutions to industrial, commercial, and residential markets worldwide. The company's Automation Solutions segment offers software; measurement and analytical instrumentation; valves, actuators, and regulators; industry services and solutions; process control systems and solutions; and digital plant solutions.
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