ICICI Prudential Asset Management Co Ltd reduced its holdings in shares of Emerson Electric Company (NYSE:EMR) by 23.5% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 7,500 shares of the industrial products company’s stock after selling 2,300 shares during the period. Emerson Electric makes up 2.2% of ICICI Prudential Asset Management Co Ltd’s investment portfolio, making the stock its 17th largest holding. ICICI Prudential Asset Management Co Ltd’s holdings in Emerson Electric were worth $471,000 as of its most recent SEC filing.
A number of other institutional investors have also modified their holdings of EMR. Captrust Financial Advisors acquired a new stake in shares of Emerson Electric in the second quarter valued at about $177,119,000. Pictet Asset Management Ltd. lifted its stake in shares of Emerson Electric by 217.1% in the second quarter. Pictet Asset Management Ltd. now owns 2,460,762 shares of the industrial products company’s stock valued at $145,480,000 after purchasing an additional 1,684,786 shares during the period. Longview Partners Guernsey LTD lifted its stake in shares of Emerson Electric by 9.0% in 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 purchasing an additional 1,134,275 shares during the period. Alyeska Investment Group L.P. acquired a new stake in shares of Emerson Electric in the third quarter valued at about $49,644,000. Finally, BlackRock Inc. lifted its stake in shares of Emerson Electric by 1.9% in 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 purchasing an additional 778,791 shares during the period. 69.20% of the stock is currently owned by institutional investors.
In related news, VP Frank J. Dellaquila sold 2,100 shares of the stock in a transaction dated Wednesday, December 6th. The shares were sold at an average price of $64.77, for a total value of $136,017.00. Following the completion of the transaction, the vice president now owns 178,743 shares in the company, valued at approximately $11,577,184.11. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, 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 transaction 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 approximately $2,447,157.72. 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 90 days. Insiders own 0.84% of the company’s stock.
Shares of Emerson Electric Company (NYSE:EMR) opened at $73.14 on Monday. The company has a quick ratio of 1.30, a current ratio of 1.64 and a debt-to-equity ratio of 0.43. Emerson Electric Company has a twelve month low of $56.77 and a twelve month high of $74.45. The stock has a market cap of $46,940.00, a price-to-earnings ratio of 28.57, a P/E/G ratio of 2.66 and a beta of 1.24.
Emerson Electric (NYSE:EMR) last released its earnings results on Tuesday, November 7th. The industrial products company reported $0.83 earnings per share for the quarter, meeting the consensus estimate of $0.83. The firm 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% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.74 earnings per share. equities analysts predict that Emerson Electric Company will post 2.96 EPS for the current fiscal year.
EMR has been the subject of a number of research reports. Cowen upgraded shares of Emerson Electric to a “buy” rating and set a $71.00 target price for the company in a research report on Monday, October 23rd. Stifel Nicolaus restated a “buy” rating and set a $72.00 target price (up previously from $68.00) on shares of Emerson Electric in a research report on Thursday, November 9th. Bank of America upgraded shares of Emerson Electric from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $64.44 to $79.00 in a report on Tuesday, October 17th. Vertical Research upgraded shares of Emerson Electric from a “hold” rating to a “buy” rating in a report on Tuesday, January 2nd. Finally, Morgan Stanley reiterated 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. Three investment analysts have rated the stock with a sell rating, eleven have given a hold rating and five have assigned a buy rating to the company. Emerson Electric presently has a consensus rating of “Hold” and an average 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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