Adell Harriman & Carpenter Inc. cut its holdings in Emerson Electric Company (NYSE:EMR) by 15.7% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,369 shares of the industrial products company’s stock after selling 1,561 shares during the period. Adell Harriman & Carpenter Inc.’s holdings in Emerson Electric were worth $499,000 at the end of the most recent reporting period.
A number of other large investors have also modified their holdings of EMR. Oppenheimer Asset Management Inc. acquired a new position in Emerson Electric during the 1st quarter worth $127,000. AT Bancorp acquired a new position in shares of Emerson Electric during the second quarter valued at about $139,000. Harbour Capital Advisors LLC acquired a new position in shares of Emerson Electric during the first quarter valued at about $147,000. Guardian Life Insurance Co. of America raised its position in shares of Emerson Electric by 1.1% during the first quarter. Guardian Life Insurance Co. of America now owns 2,491 shares of the industrial products company’s stock valued at $149,000 after buying an additional 28 shares during the last quarter. Finally, Perkins Coie Trust Co acquired a new position in shares of Emerson Electric during the second quarter valued at about $150,000. Hedge funds and other institutional investors own 70.04% of the company’s stock.
Several research analysts recently issued reports on the stock. Cowen and Company raised shares of Emerson Electric to a “buy” rating and set a $71.00 price target for the company in a research report on Monday. BidaskClub lowered shares of Emerson Electric from a “sell” rating to a “strong sell” rating in a research report on Friday, August 18th. Stifel Nicolaus reaffirmed a “buy” rating and set a $68.00 price objective on shares of Emerson Electric in a research note on Wednesday, July 19th. Morgan Stanley reaffirmed an “overweight” rating on shares of Emerson Electric in a research note on Tuesday, July 11th. Finally, Berenberg Bank reaffirmed a “sell” rating and set a $53.00 price objective on shares of Emerson Electric in a research note on Friday, August 11th. Five equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $62.86.
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In other news, insider Robert T. Sharp sold 2,000 shares of the firm’s stock in a transaction dated Thursday, August 31st. The stock was sold at an average price of $58.99, for a total value of $117,980.00. Following the completion of the transaction, the insider now directly owns 64,290 shares in the company, valued at $3,792,467.10. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.79% of the company’s stock.
Shares of Emerson Electric Company (NYSE EMR) opened at 66.83 on Friday. Emerson Electric Company has a one year low of $49.38 and a one year high of $67.31. The firm has a market capitalization of $42.77 billion, a price-to-earnings ratio of 29.82 and a beta of 1.22. The company’s 50 day moving average is $63.43 and its 200-day moving average is $60.43.
Emerson Electric (NYSE:EMR) last issued its quarterly earnings results on Tuesday, November 7th. The industrial products company reported $0.83 earnings per share for the quarter, topping the consensus estimate of $0.79 by $0.04. Emerson Electric had a return on equity of 22.32% and a net margin of 8.89%. Equities analysts expect that Emerson Electric Company will post $2.61 EPS for the current year.
About Emerson Electric
Emerson Electric Co is a diversified global manufacturing company, which provides solutions to customers by bringing technology and engineering together in the industrial, commercial and consumer markets around the world. The Company operates through four segments based on the nature of the products and services rendered: Process Management, Industrial Automation, Climate Technologies and Commercial & Residential Solutions.
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