Baxter Bros Inc. reduced its stake in shares of Emerson Electric Co. (NYSE:EMR) by 1.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,919 shares of the industrial products company’s stock after selling 164 shares during the period. Baxter Bros Inc.’s holdings in Emerson Electric were worth $864,000 as of its most recent SEC filing.
Other institutional investors also recently modified their holdings of the company. Gradient Investments LLC grew its stake in Emerson Electric by 164.4% in the 3rd quarter. Gradient Investments LLC now owns 386 shares of the industrial products company’s stock worth $26,000 after acquiring an additional 240 shares during the period. Candriam Luxembourg S.C.A. grew its stake in Emerson Electric by 12.8% in the 3rd quarter. Candriam Luxembourg S.C.A. now owns 382,028 shares of the industrial products company’s stock worth $26,000 after acquiring an additional 43,374 shares during the period. Ellevest Inc. grew its stake in Emerson Electric by 110.0% in the 2nd quarter. Ellevest Inc. now owns 420 shares of the industrial products company’s stock worth $28,000 after acquiring an additional 220 shares during the period. Larson Financial Group LLC grew its stake in Emerson Electric by 80.3% in the 2nd quarter. Larson Financial Group LLC now owns 440 shares of the industrial products company’s stock worth $29,000 after acquiring an additional 196 shares during the period. Finally, Garrett Wealth Advisory Group LLC purchased a new stake in Emerson Electric in the 3rd quarter worth approximately $31,000. Hedge funds and other institutional investors own 70.55% of the company’s stock.
Several research firms have commented on EMR. Morgan Stanley lowered their target price on shares of Emerson Electric from $76.00 to $75.00 and set an “overweight” rating for the company in a research note on Wednesday, October 9th. Citigroup lowered their target price on shares of Emerson Electric from $79.00 to $77.00 and set a “buy” rating for the company in a research note on Tuesday, July 30th. Royal Bank of Canada raised shares of Emerson Electric from a “sector perform” rating to an “outperform” rating and lifted their target price for the stock from $65.00 to $77.00 in a research note on Monday, September 30th. Credit Suisse Group lowered their price objective on shares of Emerson Electric from $74.00 to $70.00 and set an “outperform” rating for the company in a research note on Wednesday, August 7th. Finally, Cowen set a $72.00 price objective on shares of Emerson Electric and gave the company a “buy” rating in a research note on Monday, September 30th. One analyst has rated the stock with a sell rating, eight have given a hold rating and nine have issued a buy rating to the company’s stock. Emerson Electric currently has a consensus rating of “Hold” and an average price target of $72.21.
Shares of Emerson Electric stock traded up $0.65 during trading on Monday, reaching $69.30. The company had a trading volume of 1,066,756 shares, compared to its average volume of 3,572,804. The company has a market cap of $41.86 billion, a price-to-earnings ratio of 20.50, a price-to-earnings-growth ratio of 2.27 and a beta of 1.37. The firm’s fifty day moving average is $64.36 and its 200-day moving average is $65.02. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.85 and a current ratio of 1.18. Emerson Electric Co. has a fifty-two week low of $55.38 and a fifty-two week high of $73.37.
Emerson Electric (NYSE:EMR) last issued its earnings results on Tuesday, August 6th. The industrial products company reported $0.94 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.94. The business had revenue of $4.68 billion for the quarter, compared to analyst estimates of $4.82 billion. Emerson Electric had a net margin of 12.06% and a return on equity of 24.67%. The company’s revenue for the quarter was up 5.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.12 EPS. On average, research analysts anticipate that Emerson Electric Co. will post 3.63 EPS for the current fiscal year.
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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