Deprince Race & Zollo Inc. lowered its position in Emerson Electric Company (NYSE:EMR) by 23.4% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 687,475 shares of the industrial products company’s stock after selling 209,844 shares during the period. Emerson Electric comprises approximately 1.0% of Deprince Race & Zollo Inc.’s holdings, making the stock its 17th largest position. Deprince Race & Zollo Inc. owned 0.11% of Emerson Electric worth $43,201,000 at the end of the most recent quarter.
Other institutional investors have also recently modified their holdings of the company. Tower Research Capital LLC TRC purchased a new stake in Emerson Electric in the 2nd quarter worth about $109,000. Intellectus Partners LLC raised its position in Emerson Electric by 0.3% in the 2nd quarter. Intellectus Partners LLC now owns 2,094 shares of the industrial products company’s stock worth $125,000 after purchasing an additional 7 shares during the period. Mountain Capital Investment Advisors Inc purchased a new stake in Emerson Electric in the 2nd quarter worth about $129,000. AT Bancorp purchased a new stake in Emerson Electric in the 2nd quarter worth about $139,000. Finally, Harbour Capital Advisors LLC purchased a new stake in Emerson Electric in the 1st quarter worth about $147,000. 69.18% of the stock is owned by institutional investors.
A number of analysts recently weighed in on the stock. Vertical Research raised shares of Emerson Electric from a “hold” rating to a “buy” rating in a research report on Tuesday, January 2nd. Cowen restated a “buy” rating and issued a $72.00 target price on shares of Emerson Electric in a research note on Wednesday, December 20th. Stifel Nicolaus restated a “buy” rating and issued a $75.00 target price on shares of Emerson Electric in a research note on Monday, December 11th. Goldman Sachs Group restated a “neutral” rating and issued a $66.00 target price on shares of Emerson Electric in a research note on Friday, December 8th. Finally, JPMorgan Chase & Co. started coverage on shares of Emerson Electric in a research note on Wednesday, November 29th. They set a “neutral” rating on the stock. Three equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and five have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $65.86.
Emerson Electric (NYSE:EMR) last posted its quarterly earnings results on Tuesday, November 7th. The industrial products company reported $0.83 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.83. Emerson Electric had a net margin of 9.94% and a return on equity of 20.47%. The business had revenue of $4.44 billion during the quarter, compared to analysts’ expectations of $4.43 billion. During the same quarter last year, the company posted $0.74 earnings per share. The business’s quarterly revenue was up 12.8% on a year-over-year basis. sell-side analysts expect that Emerson Electric Company will post 2.92 EPS for the current year.
In related news, VP Bell Katherine Button sold 7,909 shares of the firm’s stock in a transaction on Thursday, November 30th. The shares were sold at an average price of $64.78, for a total transaction of $512,345.02. Following the sale, the vice president now owns 44,628 shares in the company, valued at $2,891,001.84. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Frank J. Dellaquila sold 2,100 shares of the firm’s stock in a transaction on Wednesday, December 6th. The shares were sold at an average price of $64.77, for a total transaction of $136,017.00. Following the sale, the vice president now owns 178,743 shares in the company, valued at approximately $11,577,184.11. The disclosure for this sale can be found here. In the last three months, insiders have sold 27,017 shares of company stock valued at $1,771,129. 0.84% of the stock is currently owned by corporate insiders.
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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