Public Employees Retirement System of Ohio lowered its position in Emerson Electric Co. (NYSE:EMR) by 0.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 439,045 shares of the industrial products company’s stock after selling 3,952 shares during the quarter. Public Employees Retirement System of Ohio owned 0.07% of Emerson Electric worth $30,356,000 at the end of the most recent quarter.
A number of other hedge funds have also recently modified their holdings of the business. Clarus Wealth Advisors bought a new stake in shares of Emerson Electric in the 2nd quarter worth about $100,000. W.G. Shaheen & Associates DBA Whitney & Co bought a new stake in shares of Emerson Electric in the 1st quarter worth about $102,000. Bay Colony Advisory Group Inc d b a Bay Colony Advisors bought a new stake in shares of Emerson Electric in the 2nd quarter worth about $102,000. Kiley Juergens Wealth Management LLC bought a new stake in shares of Emerson Electric in the 2nd quarter worth about $105,000. Finally, Kaizen Advisory LLC increased its position in shares of Emerson Electric by 151.1% in the 2nd quarter. Kaizen Advisory LLC now owns 1,539 shares of the industrial products company’s stock worth $106,000 after purchasing an additional 926 shares during the last quarter. Hedge funds and other institutional investors own 70.35% of the company’s stock.
A number of equities research analysts recently weighed in on EMR shares. Morgan Stanley started coverage on shares of Emerson Electric in a research report on Monday, August 20th. They set an “overweight” rating and a $85.00 price objective for the company. JPMorgan Chase & Co. boosted their price objective on shares of Emerson Electric from $79.00 to $82.00 and gave the company an “overweight” rating in a research report on Friday, August 10th. Bank of America upped their target price on shares of Emerson Electric from $82.00 to $90.00 and gave the stock a “buy” rating in a research report on Thursday, October 4th. ValuEngine upgraded shares of Emerson Electric from a “hold” rating to a “buy” rating in a research report on Monday, July 2nd. Finally, Zacks Investment Research cut shares of Emerson Electric from a “buy” rating to a “hold” rating in a research report on Monday, July 16th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and thirteen have given a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $78.67.
Emerson Electric (NYSE:EMR) last released its earnings results on Tuesday, August 7th. The industrial products company reported $0.88 EPS for the quarter, beating the consensus estimate of $0.86 by $0.02. The business had revenue of $4.46 billion during the quarter, compared to analyst estimates of $4.47 billion. Emerson Electric had a net margin of 12.33% and a return on equity of 22.83%. The business’s quarterly revenue was up 10.3% on a year-over-year basis. During the same period in the prior year, the business earned $0.68 earnings per share. Equities analysts predict that Emerson Electric Co. will post 3.19 earnings per share for the current fiscal year.
In other Emerson Electric news, VP Steven J. Pelch sold 6,409 shares of the company’s stock in a transaction that occurred on Tuesday, August 14th. The shares were sold at an average price of $74.24, for a total value of $475,804.16. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, President Edward L. Monser sold 60,000 shares of the company’s stock in a transaction that occurred on 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 transaction, the president now owns 176,477 shares in the company, valued at approximately $13,429,899.70. The disclosure for this sale can be found here. In the last 90 days, insiders sold 96,409 shares of company stock valued at $7,317,004. 0.84% of the stock is owned by insiders.
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.
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