Mitsubishi UFJ Kokusai Asset Management Co. Ltd. cut its stake in Emerson Electric Company (NYSE:EMR) by 10.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 92,689 shares of the industrial products company’s stock after selling 10,545 shares during the quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd.’s holdings in Emerson Electric were worth $5,526,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors also recently modified their holdings of the company. Oppenheimer Asset Management Inc. bought a new position in Emerson Electric during the first quarter valued at $127,000. AT Bancorp bought a new position in Emerson Electric during the second quarter valued at $139,000. Harbour Capital Advisors LLC bought a new position in Emerson Electric during the first quarter valued at $147,000. Guardian Life Insurance Co. of America grew its holdings in 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 purchasing an additional 28 shares during the period. Finally, Perkins Coie Trust Co bought a new position in Emerson Electric during the second quarter valued at $150,000. 70.03% of the stock is owned by hedge funds and other institutional investors.
Emerson Electric Company (EMR) opened at 65.48 on Wednesday. The stock has a market capitalization of $41.91 billion, a price-to-earnings ratio of 29.22 and a beta of 1.22. The stock’s 50 day moving average is $62.04 and its 200 day moving average is $60.08. Emerson Electric Company has a 12-month low of $49.38 and a 12-month high of $66.10.
Emerson Electric (NYSE:EMR) last posted its quarterly earnings results on Tuesday, August 1st. The industrial products company reported $0.68 EPS for the quarter, hitting the consensus estimate of $0.68. Emerson Electric had a net margin of 8.89% and a return on equity of 22.32%. The company had revenue of $4.04 billion during the quarter, compared to analysts’ expectations of $3.99 billion. During the same quarter in the previous year, the business posted $0.68 EPS. The firm’s revenue was up 9.9% on a year-over-year basis. Equities analysts predict that Emerson Electric Company will post $2.61 earnings per share for the current fiscal year.
A number of equities analysts have recently commented on EMR shares. Stifel Nicolaus reaffirmed a “buy” rating and issued a $68.00 price target on shares of Emerson Electric in a report on Wednesday, July 19th. Morgan Stanley reiterated an “overweight” rating on shares of Emerson Electric in a research report on Tuesday, July 11th. Cowen and Company upgraded Emerson Electric from a “market perform” rating to an “outperform” rating in a research report on Tuesday. Citigroup Inc. restated a “sell” rating and set a $61.00 price target (up previously from $58.00) on shares of Emerson Electric in a research report on Monday, October 9th. Finally, BidaskClub downgraded Emerson Electric from a “hold” rating to a “sell” rating in a research report on Friday, July 28th. Five investment analysts have rated the stock with a sell rating, nine have issued a hold rating and four have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $62.17.
In other Emerson Electric news, insider Robert T. Sharp sold 2,000 shares of the business’s stock in a transaction that occurred on Thursday, August 31st. The shares were sold at an average price of $58.99, for a total transaction of $117,980.00. Following the completion of the transaction, the insider now owns 64,290 shares in the company, valued at approximately $3,792,467.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.79% of the company’s stock.
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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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