American Asset Management Inc. grew its stake in shares of Emerson Electric Company (NYSE:EMR) by 7.3% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 6,742 shares of the industrial products company’s stock after acquiring an additional 457 shares during the period. American Asset Management Inc.’s holdings in Emerson Electric were worth $402,000 at the end of the most recent quarter.
Other institutional investors also recently bought and sold shares of the company. Oppenheimer Asset Management Inc. bought a new stake in shares of Emerson Electric during the first quarter valued at approximately $127,000. AT Bancorp bought a new stake in shares of Emerson Electric during the second quarter valued at approximately $139,000. Harbour Capital Advisors LLC bought a new stake in shares of Emerson Electric during the first quarter valued at approximately $147,000. Guardian Life Insurance Co. of America raised its stake in shares of Emerson Electric by 1.1% during the first quarter. Guardian Life Insurance Co. of America now owns 2,491 shares of the industrial products company’s stock valued at $149,000 after acquiring an additional 28 shares in the last quarter. Finally, Perkins Coie Trust Co bought a new stake in shares of Emerson Electric during the second quarter valued at approximately $150,000. 70.04% of the stock is owned by hedge funds and other institutional investors.
Several analysts have recently weighed in on the stock. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $62.00 price target (up previously from $61.00) on shares of Emerson Electric in a research note on Wednesday, August 2nd. BidaskClub downgraded shares of Emerson Electric from a “sell” rating to a “strong sell” rating in a research note on Friday, August 18th. Zacks Investment Research downgraded shares of Emerson Electric from a “hold” rating to a “sell” rating in a research note on Tuesday, October 17th. Cowen and Company raised shares of Emerson Electric to a “buy” rating and set a $71.00 price target for the company in a research note on Monday. Finally, Berenberg Bank reaffirmed a “sell” rating and set a $53.00 price target on shares of Emerson Electric in a research note on Friday, August 11th. Five analysts have rated the stock with a sell rating, nine have issued a hold rating and four have given a buy rating to the stock. Emerson Electric currently has a consensus rating of “Hold” and an average price target of $62.86.
Emerson Electric Company (NYSE EMR) opened at 66.74 on Wednesday. The firm has a market capitalization of $42.71 billion, a P/E ratio of 29.78 and a beta of 1.22. The stock’s 50 day moving average price is $63.21 and its 200-day moving average price is $60.38. Emerson Electric Company has a 12 month low of $49.38 and a 12 month high of $67.31.
Emerson Electric (NYSE:EMR) last announced its quarterly earnings data on Tuesday, November 7th. The industrial products company reported $0.83 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.79 by $0.04. Emerson Electric had a net margin of 8.89% and a return on equity of 22.32%. Equities analysts forecast that Emerson Electric Company will post $2.61 earnings per share for the current year.
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In other news, insider Robert T. Sharp sold 2,000 shares of the firm’s stock in a transaction on Thursday, August 31st. The shares were sold at an average price of $58.99, for a total value of $117,980.00. Following the sale, the insider now directly owns 64,290 shares in the company, valued at approximately $3,792,467.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.79% of the stock is currently owned by company insiders.
Emerson Electric Company Profile
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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