Shufro Rose & Co. LLC continued to hold its position in Emerson Electric Company (NYSE:EMR) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 40,510 shares of the industrial products company’s stock at the close of the 2nd quarter. Shufro Rose & Co. LLC’s holdings in Emerson Electric were worth $2,415,000 as of its most recent SEC filing.
Several other large investors have also recently added to or reduced their stakes in EMR. Vanguard Group Inc. raised its position in shares of Emerson Electric by 5.8% in the 1st quarter. Vanguard Group Inc. now owns 43,698,252 shares of the industrial products company’s stock valued at $2,615,777,000 after purchasing an additional 2,404,844 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of Emerson Electric by 2.3% in the 1st quarter. Bank of New York Mellon Corp now owns 14,552,526 shares of the industrial products company’s stock valued at $871,114,000 after purchasing an additional 332,238 shares during the last quarter. Longview Partners Guernsey LTD raised its position in shares of Emerson Electric by 4.4% in the 2nd quarter. Longview Partners Guernsey LTD now owns 12,624,050 shares of the industrial products company’s stock valued at $752,646,000 after purchasing an additional 526,712 shares during the last quarter. American International Group Inc. raised its position in shares of Emerson Electric by 0.6% in the 1st quarter. American International Group Inc. now owns 9,041,764 shares of the industrial products company’s stock valued at $541,240,000 after purchasing an additional 53,444 shares during the last quarter. Finally, American Century Companies Inc. raised its position in shares of Emerson Electric by 19.4% in the 1st quarter. American Century Companies Inc. now owns 4,338,862 shares of the industrial products company’s stock valued at $259,724,000 after purchasing an additional 705,924 shares during the last quarter. Institutional investors and hedge funds own 70.01% of the company’s stock.
Several equities analysts recently commented on EMR shares. Stifel Nicolaus reaffirmed a “buy” rating on shares of Emerson Electric in a research report on Thursday. Morgan Stanley reaffirmed an “equal weight” rating and issued a $67.00 price objective (up from $64.00) on shares of Emerson Electric in a research report on Monday, October 2nd. BidaskClub raised shares of Emerson Electric from a “sell” rating to a “hold” rating in a research report on Friday, June 16th. JMP Securities started coverage on shares of Emerson Electric in a research report on Monday, June 19th. They issued an “outperform” rating and a $70.00 price objective for the company. Finally, Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $62.00 price objective (up from $61.00) on shares of Emerson Electric in a research report on Wednesday, August 2nd. Four analysts have rated the stock with a sell rating, eleven have issued a hold rating and two have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $60.71.
In other news, insider Robert T. Sharp sold 2,000 shares of the company’s stock in a transaction that occurred on Thursday, August 31st. The stock was sold at an average price of $58.99, for a total transaction of $117,980.00. Following the completion of the sale, the insider now owns 64,290 shares in the company, valued at $3,792,467.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.79% of the stock is owned by corporate insiders.
Emerson Electric Company (NYSE EMR) opened at 63.92 on Friday. The stock has a market capitalization of $40.91 billion, a price-to-earnings ratio of 28.52 and a beta of 1.22. Emerson Electric Company has a 12-month low of $49.38 and a 12-month high of $64.36. The stock’s 50 day moving average is $61.78 and its 200 day moving average is $60.04.
Emerson Electric (NYSE:EMR) last released its quarterly earnings results on Tuesday, August 1st. The industrial products company reported $0.68 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.68. Emerson Electric had a return on equity of 22.32% and a net margin of 8.89%. The business had revenue of $4.04 billion during the quarter, compared to analysts’ expectations of $3.99 billion. During the same quarter in the prior year, the business earned $0.68 earnings per share. The company’s quarterly revenue was up 9.9% compared to the same quarter last year. Equities research analysts forecast that Emerson Electric Company will post $2.60 EPS for the current fiscal year.
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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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