Wedge Capital Management L L P NC cut its stake in shares of Emerson Electric Co. (NYSE:EMR) by 1.9% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 228,271 shares of the industrial products company’s stock after selling 4,511 shares during the quarter. Wedge Capital Management L L P NC’s holdings in Emerson Electric were worth $17,481,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Bay Colony Advisory Group Inc d b a Bay Colony Advisors acquired a new position in shares of Emerson Electric in the 2nd quarter valued at about $102,000. Kiley Juergens Wealth Management LLC acquired a new position in shares of Emerson Electric in the 2nd quarter valued at about $105,000. Kaizen Advisory LLC lifted its stake 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 valued at $106,000 after purchasing an additional 926 shares during the period. Tradewinds Capital Management LLC lifted its stake in shares of Emerson Electric by 584.1% in the 3rd quarter. Tradewinds Capital Management LLC now owns 1,416 shares of the industrial products company’s stock valued at $108,000 after purchasing an additional 1,209 shares during the period. Finally, FNY Investment Advisers LLC acquired a new position in shares of Emerson Electric in the 2nd quarter valued at about $113,000. 70.33% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Emerson Electric stock opened at $69.62 on Monday. Emerson Electric Co. has a one year low of $57.47 and a one year high of $79.70. The stock has a market capitalization of $43.75 billion, a P/E ratio of 26.37, a PEG ratio of 1.82 and a beta of 1.20. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.23 and a quick ratio of 0.97.
Emerson Electric (NYSE:EMR) last issued its quarterly earnings data on Tuesday, August 7th. The industrial products company reported $0.88 EPS for the quarter, topping analysts’ consensus estimates of $0.86 by $0.02. The firm had revenue of $4.46 billion during the quarter, compared to analyst estimates of $4.47 billion. Emerson Electric had a return on equity of 22.83% and a net margin of 12.33%. The company’s revenue for the quarter was up 10.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.68 EPS. Analysts expect that Emerson Electric Co. will post 3.19 EPS for the current fiscal year.
A number of brokerages have recently issued reports on EMR. Barclays boosted their price objective on Emerson Electric from $80.00 to $85.00 and gave the company an “overweight” rating in a research note on Thursday, August 9th. Zacks Investment Research raised Emerson Electric from a “hold” rating to a “buy” rating and set a $80.00 price objective on the stock in a research note on Monday, August 6th. UBS Group boosted their price objective on Emerson Electric from $85.00 to $90.00 and gave the company a “buy” rating in a research note on Thursday, August 30th. Deutsche Bank set a $81.00 price objective on Emerson Electric and gave the company a “buy” rating in a research note on Thursday, July 12th. Finally, MED raised Emerson Electric from a “hold” rating to a “buy” rating and set a $81.00 price objective on the stock in a research note on Thursday, July 12th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $78.67.
In other Emerson Electric news, VP Steven J. Pelch sold 6,409 shares of the business’s stock in a transaction that occurred on Tuesday, August 14th. The stock was sold at an average price of $74.24, for a total transaction of $475,804.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, President Edward L. Monser sold 60,000 shares of the business’s stock in a transaction that occurred on Monday, September 10th. The stock was sold at an average price of $76.10, for a total value of $4,566,000.00. Following the sale, the president now directly owns 176,477 shares of the company’s stock, valued at $13,429,899.70. The disclosure for this sale can be found here. Insiders have sold a total of 96,409 shares of company stock valued at $7,317,004 over the last three months. Corporate insiders own 0.84% of the company’s stock.
About Emerson Electric
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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