Greenleaf Trust cut its position in Emerson Electric Co. (NYSE:EMR) by 4.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,811 shares of the company’s stock after selling 500 shares during the period. Greenleaf Trust’s holdings in Emerson Electric were worth $564,000 as of its most recent SEC filing.
Other hedge funds have also added to or reduced their stakes in the company. TIAA CREF Investment Management LLC raised its stake in Emerson Electric by 1.6% in the first quarter. TIAA CREF Investment Management LLC now owns 1,119,233 shares of the company’s stock worth $60,864,000 after buying an additional 17,414 shares during the period. Middleton & Co Inc MA acquired a new stake in Emerson Electric during the first quarter worth $208,000. Edmp Inc. raised its stake in Emerson Electric by 2.7% in the first quarter. Edmp Inc. now owns 12,305 shares of the company’s stock worth $669,000 after buying an additional 327 shares during the period. Hyman Charles D acquired a new stake in Emerson Electric during the first quarter worth $12,240,000. Finally, Augustine Asset Management Inc. acquired a new stake in Emerson Electric during the first quarter worth $839,000. 69.40% of the stock is owned by institutional investors.
Shares of Emerson Electric Co. (NYSE:EMR) traded down 1.78% on Monday, hitting $51.76. The stock had a trading volume of 2,521,888 shares. The stock has a market cap of $33.31 billion, a P/E ratio of 18.33 and a beta of 1.19. The firm has a 50 day moving average of $52.65 and a 200 day moving average of $53.42. Emerson Electric Co. has a 12 month low of $41.25 and a 12 month high of $56.82.
Emerson Electric (NYSE:EMR) last posted its earnings results on Tuesday, August 2nd. The company reported $0.80 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.84 by $0.04. The firm earned $5.10 billion during the quarter, compared to analyst estimates of $5.34 billion. Emerson Electric had a net margin of 8.96% and a return on equity of 24.63%. On average, equities analysts forecast that Emerson Electric Co. will post $2.92 earnings per share for the current fiscal year.
Several analysts have commented on the stock. Zacks Investment Research lowered shares of Emerson Electric from a “hold” rating to a “sell” rating in a research report on Monday, July 18th. Barclays PLC reissued an “equal weight” rating and set a $55.00 price target (down from $56.00) on shares of Emerson Electric in a research report on Monday, July 18th. Wells Fargo & Co. reissued a “hold” rating and set a $52.00 price target on shares of Emerson Electric in a research report on Monday, July 18th. Credit Suisse Group AG lowered shares of Emerson Electric from an “outperform” rating to a “neutral” rating and set a $57.00 price target for the company. in a research report on Friday, August 19th. They noted that the move was a valuation call. Finally, Buckingham Research lowered shares of Emerson Electric from a “neutral” rating to an “underperform” rating and decreased their price target for the company from $49.00 to $44.00 in a research report on Friday, August 19th. Eight investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and four have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target 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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