Chelsea Counsel Co. cut its holdings in Emerson Electric Company (NYSE:EMR) by 73.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,905 shares of the industrial products company’s stock after selling 44,934 shares during the period. Chelsea Counsel Co.’s holdings in Emerson Electric were worth $1,108,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its holdings in Emerson Electric by 1.1% during the second quarter. Vanguard Group Inc. now owns 44,195,877 shares of the industrial products company’s stock valued at $2,634,958,000 after acquiring an additional 497,625 shares during the period. BlackRock Inc. boosted its holdings in Emerson Electric by 1.9% during the second quarter. BlackRock Inc. now owns 40,954,867 shares of the industrial products company’s stock valued at $2,441,728,000 after acquiring an additional 778,791 shares during the period. Longview Partners Guernsey LTD boosted its holdings in Emerson Electric by 9.0% during the third quarter. Longview Partners Guernsey LTD now owns 13,758,325 shares of the industrial products company’s stock valued at $864,573,000 after acquiring an additional 1,134,275 shares during the period. Bank of New York Mellon Corp boosted its holdings in Emerson Electric by 4.7% during the third quarter. Bank of New York Mellon Corp now owns 13,355,963 shares of the industrial products company’s stock valued at $839,288,000 after acquiring an additional 597,993 shares during the period. Finally, Capital World Investors boosted its holdings in Emerson Electric by 4.6% during the second quarter. Capital World Investors now owns 11,450,000 shares of the industrial products company’s stock valued at $682,649,000 after acquiring an additional 500,000 shares during the period. Institutional investors own 69.18% of the company’s stock.
In related news, VP Bell Katherine Button sold 7,518 shares of the stock in a transaction dated Monday, December 11th. The shares were sold at an average price of $66.36, for a total value of $498,894.48. Following the completion of the transaction, the vice president now owns 36,877 shares of the company’s stock, valued at $2,447,157.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Edgar M. Purvis, Jr. sold 9,490 shares of the stock in a transaction dated Friday, December 8th. The stock was sold at an average price of $65.74, for a total transaction of $623,872.60. Following the completion of the transaction, the chief operating officer now directly owns 168,984 shares of the company’s stock, valued at approximately $11,109,008.16. The disclosure for this sale can be found here. Insiders have sold 27,017 shares of company stock valued at $1,771,129 in the last ninety days. 0.79% of the stock is owned by company insiders.
Emerson Electric Company (NYSE:EMR) opened at $73.14 on Friday. The company has a market cap of $46,940.00, a PE ratio of 28.57, a PEG ratio of 2.69 and a beta of 1.24. 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 Company has a 52-week low of $56.77 and a 52-week high of $74.45.
Emerson Electric (NYSE:EMR) last announced its quarterly earnings data on Tuesday, November 7th. The industrial products company reported $0.83 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.83. The business had revenue of $4.44 billion during the quarter, compared to analyst estimates of $4.43 billion. Emerson Electric had a net margin of 9.94% and a return on equity of 20.47%. The firm’s revenue for the quarter was up 12.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.74 earnings per share. sell-side analysts forecast that Emerson Electric Company will post 2.92 EPS for the current fiscal year.
A number of equities research analysts have issued reports on EMR shares. Morgan Stanley restated an “equal weight” rating and set a $67.00 price target (up from $64.00) on shares of Emerson Electric in a report on Monday, October 2nd. Citigroup restated a “sell” rating and set a $61.00 price target (up from $58.00) on shares of Emerson Electric in a report on Monday, October 9th. Stifel Nicolaus restated a “buy” rating on shares of Emerson Electric in a report on Thursday, October 12th. Bank of America upgraded shares of Emerson Electric from a “neutral” rating to a “buy” rating and upped their price target for the company from $64.44 to $79.00 in a report on Tuesday, October 17th. Finally, Cowen upgraded shares of Emerson Electric from a “market perform” rating to an “outperform” rating in a report on Tuesday, October 17th. Three analysts have rated the stock with a sell rating, eleven have issued a hold rating and five have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $66.43.
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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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