Synovus Financial Corp increased its holdings in shares of Emerson Electric Company (NYSE:EMR) by 5.9% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 123,009 shares of the industrial products company’s stock after purchasing an additional 6,864 shares during the period. Synovus Financial Corp’s holdings in Emerson Electric were worth $7,327,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Vanguard Group Inc. raised its holdings in Emerson Electric by 5.8% in the 1st quarter. Vanguard Group Inc. now owns 43,698,252 shares of the industrial products company’s stock valued at $2,615,777,000 after acquiring an additional 2,404,844 shares in the last quarter. Prudential Financial Inc. raised its holdings in Emerson Electric by 135.9% in the 1st quarter. Prudential Financial Inc. now owns 2,963,124 shares of the industrial products company’s stock valued at $177,372,000 after acquiring an additional 1,706,810 shares in the last quarter. Pictet Asset Management Ltd. raised its holdings in Emerson Electric by 217.1% in the 2nd quarter. Pictet Asset Management Ltd. now owns 2,460,762 shares of the industrial products company’s stock valued at $145,480,000 after acquiring an additional 1,684,786 shares in the last quarter. Bank of Nova Scotia raised its holdings in Emerson Electric by 3,745.5% in the 1st quarter. Bank of Nova Scotia now owns 561,400 shares of the industrial products company’s stock valued at $33,771,000 after acquiring an additional 546,801 shares in the last quarter. Finally, Longview Partners Guernsey LTD raised its holdings in Emerson Electric by 4.4% in the 2nd quarter. Longview Partners Guernsey LTD now owns 12,624,050 shares of the industrial products company’s stock valued at $752,646,000 after acquiring an additional 526,712 shares in the last quarter. 69.98% of the stock is owned by institutional investors and hedge funds.
Several equities analysts have commented on the company. Zacks Investment Research raised Emerson Electric from a “sell” rating to a “hold” rating in a report on Tuesday. BidaskClub cut Emerson Electric from a “sell” rating to a “strong sell” rating in a report on Friday, August 18th. Cowen and Company raised Emerson Electric to a “buy” rating and set a $71.00 price target for the company in a report on Monday, October 23rd. 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. Finally, Morgan Stanley reaffirmed an “overweight” rating on shares of Emerson Electric in a report on Tuesday, July 11th. Four research analysts have rated the stock with a sell rating, ten have issued a hold rating and four have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $62.86.
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 directly owns 64,290 shares in the company, valued at $3,792,467.10. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.79% of the stock is owned by insiders.
Emerson Electric (NYSE:EMR) last released its quarterly earnings results on Tuesday, November 7th. The industrial products company reported $0.83 earnings per share for the quarter, beating analysts’ consensus estimates of $0.79 by $0.04. Emerson Electric had a net margin of 8.89% and a return on equity of 22.32%.
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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