Nichols & Pratt Advisers LLP MA cut its position in Emerson Electric Company (NYSE:EMR) by 1.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 563,266 shares of the industrial products company’s stock after selling 5,470 shares during the period. Emerson Electric makes up approximately 3.1% of Nichols & Pratt Advisers LLP MA’s investment portfolio, making the stock its 9th largest position. Nichols & Pratt Advisers LLP MA’s holdings in Emerson Electric were worth $33,715,000 at the end of the most recent quarter.
Other hedge funds also recently modified their holdings of the company. Independent Advisor Alliance bought a new stake in shares of Emerson Electric during the fourth quarter worth $194,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main bought a new stake in shares of Emerson Electric during the fourth quarter worth $11,256,000. Lebenthal Asset Management LLC raised its stake in shares of Emerson Electric by 0.3% in the fourth quarter. Lebenthal Asset Management LLC now owns 79,344 shares of the industrial products company’s stock worth $4,423,000 after buying an additional 265 shares in the last quarter. RB Capital Management LLC bought a new stake in shares of Emerson Electric during the fourth quarter worth $251,000. Finally, Pinnacle Financial Partners Inc. raised its stake in shares of Emerson Electric by 70.5% in the fourth quarter. Pinnacle Financial Partners Inc. now owns 55,940 shares of the industrial products company’s stock worth $3,118,000 after buying an additional 23,135 shares in the last quarter. 68.87% of the stock is owned by institutional investors.
Shares of Emerson Electric Company (NYSE:EMR) opened at 60.30 on Friday. The firm has a market cap of $38.86 billion, a price-to-earnings ratio of 25.76 and a beta of 1.20. Emerson Electric Company has a 12-month low of $49.22 and a 12-month high of $64.36. The stock’s 50 day moving average is $59.68 and its 200-day moving average is $59.54.
Emerson Electric (NYSE:EMR) last announced its quarterly earnings results on Tuesday, May 2nd. The industrial products company reported $0.58 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.58. The business had revenue of $3.57 billion for the quarter, compared to the consensus estimate of $3.49 billion. Emerson Electric had a net margin of 8.72% and a return on equity of 23.37%. Emerson Electric’s revenue for the quarter was down .1% on a year-over-year basis. During the same period last year, the company posted $0.57 EPS. On average, analysts anticipate that Emerson Electric Company will post $2.60 EPS for the current fiscal year.
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A number of analysts recently commented on EMR shares. JMP Securities started coverage on shares of Emerson Electric in a report on Monday, June 19th. They issued an “outperform” rating and a $70.00 target price on the stock. Cowen and Company reiterated a “hold” rating and issued a $62.00 target price on shares of Emerson Electric in a report on Tuesday, May 2nd. BidaskClub upgraded shares of Emerson Electric from a “sell” rating to a “hold” rating in a report on Friday, June 16th. Stifel Nicolaus reiterated a “buy” rating and issued a $68.00 target price on shares of Emerson Electric in a report on Wednesday. Finally, Morgan Stanley reiterated an “overweight” rating on shares of Emerson Electric in a report on Tuesday, July 11th. Three research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and three have given a buy rating to the company. Emerson Electric currently has a consensus rating of “Hold” and an average price target of $56.96.
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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