Smith Asset Management Group LP Acquires 129,635 Shares of Emerson Electric Co. (EMR)

Smith Asset Management Group LP raised its holdings in Emerson Electric Co. (NYSE:EMR) by 33.6% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 515,107 shares of the industrial products company’s stock after acquiring an additional 129,635 shares during the quarter. Smith Asset Management Group LP’s holdings in Emerson Electric were worth $39,475,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. DnB Asset Management AS bought a new position in shares of Emerson Electric in the 2nd quarter valued at about $7,398,000. IFM Investors Pty Ltd grew its position in shares of Emerson Electric by 44.2% in the 2nd quarter. IFM Investors Pty Ltd now owns 28,821 shares of the industrial products company’s stock valued at $1,993,000 after acquiring an additional 8,837 shares during the period. Marshwinds Advisory Co. bought a new position in shares of Emerson Electric in the 2nd quarter valued at about $4,170,000. Farmers Trust Co. bought a new position in shares of Emerson Electric in the 2nd quarter valued at about $226,000. Finally, Founders Capital Management bought a new position in shares of Emerson Electric in the 2nd quarter valued at about $1,071,000. Hedge funds and other institutional investors own 70.33% of the company’s stock.

A number of research analysts have recently commented on the stock. Zacks Investment Research raised shares of Emerson Electric from a “hold” rating to a “buy” rating and set a $78.00 price objective for the company in a research report on Thursday, July 19th. MED raised shares of Emerson Electric from a “hold” rating to a “buy” rating and set a $81.00 target price for the company in a report on Thursday, July 12th. Barclays lifted their target price on shares of Emerson Electric from $80.00 to $85.00 and gave the stock an “overweight” rating in a report on Thursday, August 9th. Credit Suisse Group initiated coverage on shares of Emerson Electric in a report on Friday, October 12th. They set a “neutral” rating and a $78.00 target price for the company. Finally, Robert W. Baird reaffirmed a “hold” rating and set a $76.00 target price on shares of Emerson Electric in a report on Friday, July 20th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. Emerson Electric presently has a consensus rating of “Buy” and an average price target of $78.67.

NYSE EMR opened at $70.45 on Monday. The company has a quick ratio of 0.97, a current ratio of 1.23 and a debt-to-equity ratio of 0.37. The stock has a market capitalization of $43.75 billion, a price-to-earnings ratio of 26.69, a price-to-earnings-growth ratio of 1.82 and a beta of 1.20. Emerson Electric Co. has a 12-month low of $57.47 and a 12-month high of $79.70.

Emerson Electric (NYSE:EMR) last posted its quarterly earnings data on Tuesday, August 7th. The industrial products company reported $0.88 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.86 by $0.02. The firm had revenue of $4.46 billion during the quarter, compared to the consensus estimate of $4.47 billion. Emerson Electric had a net margin of 12.33% and a return on equity of 22.83%. The business’s revenue for the quarter was up 10.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.68 EPS. On average, research analysts forecast that Emerson Electric Co. will post 3.19 EPS for the current fiscal year.

In other Emerson Electric news, President Edward L. Monser sold 30,000 shares of the business’s stock in a transaction dated Friday, September 7th. The shares were sold at an average price of $75.84, for a total value of $2,275,200.00. Following the completion of the sale, the president now owns 176,477 shares of the company’s stock, valued at approximately $13,384,015.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Edward L. Monser sold 60,000 shares of the business’s stock in a transaction dated Monday, September 10th. The shares were sold at an average price of $76.10, for a total transaction of $4,566,000.00. Following the completion of the sale, the president now directly owns 176,477 shares of the company’s stock, valued at approximately $13,429,899.70. The disclosure for this sale can be found here. Insiders sold a total of 96,409 shares of company stock valued at $7,317,004 in the last three months. Insiders own 0.84% of the company’s stock.

Emerson Electric Company Profile

Emerson Electric Co, a technology and engineering company, provides various solutions to industrial, commercial, and residential markets worldwide. The company's Automation Solutions segment offers software; measurement and analytical instrumentation; valves, actuators, and regulators; industry services and solutions; process control systems and solutions; and digital plant solutions.

Featured Article: What is insider trading?

Want to see what other hedge funds are holding EMR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Emerson Electric Co. (NYSE:EMR).

Institutional Ownership by Quarter for Emerson Electric (NYSE:EMR)

Receive News & Ratings for Emerson Electric Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Emerson Electric and related companies with MarketBeat.com's FREE daily email newsletter.


Leave a Reply