Cadence Capital Management LLC trimmed its holdings in Emerson Electric Co. (NYSE:EMR) by 20.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 17,045 shares of the industrial products company’s stock after selling 4,324 shares during the quarter. Cadence Capital Management LLC’s holdings in Emerson Electric were worth $1,118,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds have also bought and sold shares of EMR. American International Group Inc. boosted its position in shares of Emerson Electric by 742.3% in the second quarter. American International Group Inc. now owns 3,683,492 shares of the industrial products company’s stock valued at $228,487,000 after acquiring an additional 3,246,204 shares during the period. Charles Schwab Investment Management Inc. lifted its position in Emerson Electric by 44.2% in the second quarter. Charles Schwab Investment Management Inc. now owns 7,666,927 shares of the industrial products company’s stock worth $475,580,000 after purchasing an additional 2,349,909 shares during the period. Vanguard Group Inc. lifted its position in Emerson Electric by 4.8% in the second quarter. Vanguard Group Inc. now owns 51,413,180 shares of the industrial products company’s stock worth $3,189,159,000 after purchasing an additional 2,332,236 shares during the period. Bank of New York Mellon Corp lifted its position in Emerson Electric by 26.0% in the second quarter. Bank of New York Mellon Corp now owns 9,058,536 shares of the industrial products company’s stock worth $561,900,000 after purchasing an additional 1,868,940 shares during the period. Finally, Stifel Financial Corp lifted its position in Emerson Electric by 29.1% in the second quarter. Stifel Financial Corp now owns 4,522,024 shares of the industrial products company’s stock worth $280,501,000 after purchasing an additional 1,019,061 shares during the period. 72.37% of the stock is owned by institutional investors.
Shares of NYSE:EMR traded up $0.70 during midday trading on Friday, reaching $70.28. The company’s stock had a trading volume of 2,848,169 shares, compared to its average volume of 3,636,096. Emerson Electric Co. has a fifty-two week low of $37.75 and a fifty-two week high of $78.38. The company has a market capitalization of $42.00 billion, a P/E ratio of 21.96, a P/E/G ratio of 2.63 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 fifty day simple moving average is $67.87 and its 200-day simple moving average is $61.46.
Emerson Electric (NYSE:EMR) last announced its earnings results on Tuesday, August 4th. The industrial products company reported $0.80 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.61 by $0.19. Emerson Electric had a return on equity of 26.12% and a net margin of 11.39%. The company had revenue of $3.91 billion during the quarter, compared to analyst estimates of $3.90 billion. During the same period last year, the company posted $0.94 earnings per share. The firm’s quarterly revenue was down 16.4% compared to the same quarter last year. On average, analysts forecast that Emerson Electric Co. will post 3.3 earnings per share for the current fiscal year.
Several research analysts recently commented on the company. Morgan Stanley raised their target price on Emerson Electric from $54.00 to $59.00 and gave the stock an “equal weight” rating in a research report on Tuesday, June 30th. Deutsche Bank Aktiengesellschaft raised their target price on Emerson Electric from $66.00 to $72.00 and gave the stock a “hold” rating in a research report on Tuesday, October 13th. JPMorgan Chase & Co. raised their target price on Emerson Electric from $80.00 to $85.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 7th. Berenberg Bank began coverage on Emerson Electric in a report on Thursday, August 20th. They set a “buy” rating and a $83.00 price objective for the company. Finally, Stephens began coverage on Emerson Electric in a report on Thursday. They set an “overweight” rating for the company. One investment 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 price target of $67.81.
About Emerson Electric
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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