First Citizens Bank & Trust Co. boosted its stake in shares of Emerson Electric Co. (NYSE:EMR) by 1,742.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 89,962 shares of the company’s stock after buying an additional 85,079 shares during the period. First Citizens Bank & Trust Co.’s holdings in Emerson Electric were worth $4,692,000 as of its most recent filing with the SEC.
A number of other hedge funds have also recently made changes to their positions in EMR. Arcadia Investment Management Corp MI increased its stake in shares of Emerson Electric by 11.4% in the second quarter. Arcadia Investment Management Corp MI now owns 2,281 shares of the company’s stock valued at $119,000 after buying an additional 234 shares during the period. Americafirst Capital Management LLC bought a new position in Emerson Electric during the second quarter worth $128,000. Integrated Investment Consultants LLC increased its position in Emerson Electric by 99.5% in the second quarter. Integrated Investment Consultants LLC now owns 2,530 shares of the company’s stock worth $132,000 after buying an additional 1,262 shares during the period. Oakworth Capital Inc. increased its position in Emerson Electric by 405.6% in the second quarter. Oakworth Capital Inc. now owns 2,705 shares of the company’s stock worth $141,000 after buying an additional 2,170 shares during the period. Finally, Badgley Phelps & Bell Inc. bought a new position in Emerson Electric during the first quarter worth $205,000. 69.40% of the stock is currently owned by institutional investors.
Emerson Electric Co. (NYSE:EMR) traded down 2.07% on Tuesday, reaching $50.70. 2,605,708 shares of the company traded hands. The stock has a 50-day moving average price of $52.61 and a 200-day moving average price of $53.37. Emerson Electric Co. has a 52-week low of $41.25 and a 52-week high of $56.82. The firm has a market cap of $32.63 billion, a P/E ratio of 17.95 and a beta of 1.19.
Emerson Electric (NYSE:EMR) last released its quarterly earnings data on Tuesday, August 2nd. The company reported $0.80 earnings per share for the quarter, missing the consensus estimate of $0.84 by $0.04. The firm had revenue of $5.10 billion for the quarter, compared to analyst estimates of $5.34 billion. Emerson Electric had a return on equity of 24.63% and a net margin of 8.96%. Analysts anticipate that Emerson Electric Co. will post $2.92 earnings per share for the current fiscal year.
EMR has been the topic of a number of research reports. HSBC initiated coverage on shares of Emerson Electric in a research note on Friday. They issued a “reduce” rating on the stock. Buckingham Research downgraded shares of Emerson Electric from a “neutral” rating to an “underperform” rating and dropped their price target for the stock from $49.00 to $44.00 in a research note on Friday, August 19th. Deutsche Bank AG reaffirmed a “hold” rating and issued a $53.00 price target on shares of Emerson Electric in a research note on Thursday, August 25th. Vetr raised shares of Emerson Electric from a “strong sell” rating to a “sell” rating and set a $47.31 price target on the stock in a research note on Monday. Finally, Credit Suisse Group AG downgraded shares of Emerson Electric from an “outperform” rating to a “neutral” rating and set a $57.00 price target on the stock. in a research note on Friday, August 19th. They noted that the move was a valuation call. Eight research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and four have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $51.91.
About Emerson Electric
Emerson Electric Co is engaged in offering technology and engineering together that provides solutions for customers in industrial, commercial, and consumer markets around the world. The company operates through five business segments: Process Management, Industrial Automation, Network Power, Climate Technologies, and Commercial & Residential Solutions.
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