State of Tennessee Treasury Department decreased its holdings in Emerson Electric Company (NYSE:EMR) by 25.4% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 183,767 shares of the industrial products company’s stock after selling 62,505 shares during the quarter. State of Tennessee Treasury Department’s holdings in Emerson Electric were worth $11,548,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also modified their holdings of the business. Alliancebernstein L.P. raised its position in shares of Emerson Electric by 11.7% during the first quarter. Alliancebernstein L.P. now owns 1,266,393 shares of the industrial products company’s stock worth $75,806,000 after acquiring an additional 132,891 shares during the last quarter. AXA grew its stake in shares of Emerson Electric by 21.7% during the first quarter. AXA now owns 454,037 shares of the industrial products company’s stock worth $27,179,000 after purchasing an additional 81,032 shares during the period. Hyman Charles D grew its stake in shares of Emerson Electric by 2.0% during the first quarter. Hyman Charles D now owns 234,267 shares of the industrial products company’s stock worth $14,023,000 after purchasing an additional 4,679 shares during the period. Summit Financial Wealth Advisors LLC grew its stake in shares of Emerson Electric by 32.8% during the first quarter. Summit Financial Wealth Advisors LLC now owns 15,183 shares of the industrial products company’s stock worth $909,000 after purchasing an additional 3,748 shares during the period. Finally, Covington Investment Advisors Inc. grew its stake in shares of Emerson Electric by 3.2% during the first quarter. Covington Investment Advisors Inc. now owns 34,680 shares of the industrial products company’s stock worth $2,076,000 after purchasing an additional 1,090 shares during the period. Hedge funds and other institutional investors own 69.18% of the company’s stock.
Shares of Emerson Electric Company (EMR) traded up $1.29 during trading on Thursday, hitting $73.88. The stock had a trading volume of 2,920,000 shares, compared to its average volume of 3,200,000. The company has a market capitalization of $47,420.00, a price-to-earnings ratio of 28.86, a price-to-earnings-growth ratio of 3.25 and a beta of 1.24. Emerson Electric Company has a 12 month low of $56.00 and a 12 month high of $73.90. The company has a current ratio of 1.64, a quick ratio of 1.30 and a debt-to-equity ratio of 0.43.
Emerson Electric (NYSE:EMR) last issued its quarterly earnings results on Tuesday, November 7th. The industrial products company reported $0.83 EPS for the quarter, meeting analysts’ consensus estimates of $0.83. The company had revenue of $4.44 billion for the quarter, compared to analyst estimates of $4.43 billion. Emerson Electric had a return on equity of 20.47% and a net margin of 9.94%. The company’s quarterly revenue was up 12.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.74 earnings per share. analysts expect that Emerson Electric Company will post 2.92 earnings per share for the current fiscal year.
EMR has been the subject of a number of analyst reports. Cowen reaffirmed a “buy” rating and set a $72.00 price objective on shares of Emerson Electric in a research note on Wednesday, December 6th. Zacks Investment Research cut Emerson Electric from a “hold” rating to a “sell” rating in a research note on Tuesday, October 17th. Robert W. Baird reaffirmed a “hold” rating and set a $70.00 price objective on shares of Emerson Electric in a research note on Friday, November 10th. Goldman Sachs Group reissued a “neutral” rating and issued a $66.00 target price on shares of Emerson Electric in a research note on Friday, December 8th. Finally, Royal Bank of Canada reissued a “neutral” rating on shares of Emerson Electric in a research note on Thursday, November 9th. Three equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $65.86.
In related news, VP Bell Katherine Button sold 7,909 shares of the company’s stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $64.78, for a total transaction of $512,345.02. Following the sale, the vice president now owns 44,628 shares in the company, valued at $2,891,001.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Edgar M. Purvis, Jr. sold 9,490 shares of the company’s stock in a transaction dated Friday, December 8th. The stock was sold at an average price of $65.74, for a total value of $623,872.60. Following the sale, the chief operating officer now owns 168,984 shares in the company, valued at approximately $11,109,008.16. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 27,017 shares of company stock worth $1,771,129. Corporate insiders own 0.84% of the company’s stock.
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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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