Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its stake in Emerson Electric Company (NYSE:EMR) by 0.1% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 47,881 shares of the industrial products company’s stock after purchasing an additional 31 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Emerson Electric were worth $2,855,000 at the end of the most recent reporting period.
Several other hedge funds also recently bought and sold shares of EMR. Montecito Bank & Trust raised its stake in Emerson Electric by 4.7% during the 1st quarter. Montecito Bank & Trust now owns 10,017 shares of the industrial products company’s stock worth $600,000 after buying an additional 450 shares during the period. Allegis Investment Advisors LLC raised its stake in Emerson Electric by 10.9% during the 1st quarter. Allegis Investment Advisors LLC now owns 45,834 shares of the industrial products company’s stock worth $2,744,000 after buying an additional 4,517 shares during the period. Lincoln National Corp acquired a new stake in Emerson Electric during the 1st quarter worth $223,000. Karp Capital Management Corp acquired a new stake in Emerson Electric during the 1st quarter worth $21,482,000. Finally, Smith Salley & Associates raised its stake in Emerson Electric by 0.3% during the 1st quarter. Smith Salley & Associates now owns 62,766 shares of the industrial products company’s stock worth $3,757,000 after buying an additional 161 shares during the period. 69.98% of the stock is currently owned by institutional investors.
In related news, insider Robert T. Sharp sold 2,000 shares of the company’s stock in a transaction dated Thursday, August 31st. The shares were sold at an average price of $58.99, for a total value of $117,980.00. Following the sale, 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. Corporate insiders own 0.79% of the company’s stock.
Several analysts recently commented on the company. Zacks Investment Research raised Emerson Electric from a “sell” rating to a “hold” rating in a research note on Tuesday. BidaskClub downgraded Emerson Electric from a “sell” rating to a “strong sell” rating in a research note on Friday, August 18th. Cowen and Company raised Emerson Electric to a “buy” rating and set a $71.00 price objective on the stock in a research note on Monday, October 23rd. Stifel Nicolaus reaffirmed a “buy” rating and set a $68.00 price objective on shares of Emerson Electric in a research note on Wednesday, July 19th. Finally, Morgan Stanley reiterated an “overweight” rating on shares of Emerson Electric in a report on Tuesday, July 11th. Four analysts have rated the stock with a sell rating, ten have issued a hold rating and four have assigned a buy rating to the company’s stock. Emerson Electric has an average rating of “Hold” and an average target price of $62.86.
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Emerson Electric (NYSE:EMR) last posted its earnings results on Tuesday, November 7th. The industrial products company reported $0.83 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.79 by $0.04. Emerson Electric had a net margin of 8.89% and a return on equity of 22.32%.
About Emerson Electric
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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