Ridgewood Investments LLC lifted its stake in shares of Emerson Electric Co. (NYSE:EMR) by 9.4% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 20,949 shares of the industrial products company’s stock after buying an additional 1,806 shares during the period. Emerson Electric makes up approximately 1.2% of Ridgewood Investments LLC’s investment portfolio, making the stock its 12th biggest holding. Ridgewood Investments LLC’s holdings in Emerson Electric were worth $1,434,000 at the end of the most recent reporting period.
Other large investors also recently bought and sold shares of the company. Moody National Bank Trust Division acquired a new position in Emerson Electric during the fourth quarter valued at $27,000. Csenge Advisory Group acquired a new position in Emerson Electric during the third quarter valued at $28,000. Massey Quick Simon & CO. LLC acquired a new position in Emerson Electric during the fourth quarter valued at $30,000. Norway Savings Bank lifted its position in Emerson Electric by 60.1% during the fourth quarter. Norway Savings Bank now owns 533 shares of the industrial products company’s stock valued at $32,000 after purchasing an additional 200 shares during the period. Finally, Laurel Wealth Advisors LLC acquired a new position in Emerson Electric during the fourth quarter valued at $36,000. Institutional investors and hedge funds own 72.63% of the company’s stock.
A number of research analysts recently issued reports on EMR shares. Zacks Investment Research upgraded shares of Emerson Electric from a “hold” rating to a “buy” rating and set a $79.00 target price for the company in a research report on Tuesday, April 2nd. Morgan Stanley set a $77.00 price objective on shares of Emerson Electric and gave the company a “buy” rating in a report on Friday, February 8th. Stephens reaffirmed a “buy” rating and issued a $68.00 price objective on shares of Emerson Electric in a report on Sunday, January 6th. Cowen reaffirmed a “buy” rating and issued a $81.00 price objective on shares of Emerson Electric in a report on Tuesday, February 5th. Finally, Citigroup raised shares of Emerson Electric from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $67.00 to $81.00 in a report on Monday, April 8th. Nine investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $76.61.
Emerson Electric (NYSE:EMR) last released its earnings results on Tuesday, February 5th. The industrial products company reported $0.74 EPS for the quarter, topping analysts’ consensus estimates of $0.66 by $0.08. The business had revenue of $4.15 billion during the quarter, compared to analysts’ expectations of $4.21 billion. Emerson Electric had a net margin of 12.83% and a return on equity of 24.21%. The company’s quarterly revenue was up 8.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.61 earnings per share. As a group, equities analysts anticipate that Emerson Electric Co. will post 3.7 EPS for the current fiscal year.
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About Emerson Electric
Emerson Electric Co, a technology and engineering company, provides various solutions to industrial, commercial, and consumer markets worldwide. The company's Automation Solutions segment offers products and integrated solutions, including measurement and analytical instrumentation; valves, actuators, and regulators; industrial solutions; and process control systems and solutions.
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