Palladium Partners LLC lessened its position in shares of Emerson Electric Co. (NYSE:EMR) by 3.1% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 31,697 shares of the industrial products company’s stock after selling 1,000 shares during the quarter. Palladium Partners LLC’s holdings in Emerson Electric were worth $2,427,000 as of its most recent SEC filing.
A number of other large investors have also recently added to or reduced their stakes in EMR. Neville Rodie & Shaw Inc. acquired a new stake in Emerson Electric during the 2nd quarter worth approximately $7,927,000. Cibc Bank USA acquired a new stake in Emerson Electric during the 2nd quarter worth approximately $625,000. Clarus Wealth Advisors acquired a new stake in Emerson Electric during the 2nd quarter worth approximately $100,000. Indiana Trust & Investment Management CO acquired a new stake in Emerson Electric during the 2nd quarter worth approximately $209,000. Finally, DnB Asset Management AS acquired a new stake in Emerson Electric during the 2nd quarter worth approximately $7,398,000. Hedge funds and other institutional investors own 70.29% of the company’s stock.
Emerson Electric stock opened at $67.81 on Wednesday. The company has a quick ratio of 0.97, a current ratio of 1.23 and a debt-to-equity ratio of 0.37. The firm has a market cap of $41.64 billion, a price-to-earnings ratio of 25.69, a P/E/G ratio of 1.74 and a beta of 1.15. Emerson Electric Co. has a fifty-two week low of $57.47 and a fifty-two week high of $79.70.
Several research firms have recently commented on EMR. Zacks Investment Research raised Emerson Electric from a “hold” rating to a “buy” rating and set a $77.00 price target for the company in a report on Tuesday, July 3rd. ValuEngine downgraded Emerson Electric from a “buy” rating to a “hold” rating in a research note on Tuesday, July 24th. Cowen reaffirmed a “buy” rating and issued a $81.00 price objective on shares of Emerson Electric in a research note on Wednesday, September 19th. Argus raised their price objective on Emerson Electric from $81.00 to $83.00 and gave the company a “buy” rating in a research note on Tuesday, August 14th. Finally, Deutsche Bank set a $81.00 price objective on Emerson Electric and gave the company a “buy” rating in a research note on Thursday, July 12th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and thirteen have given a buy rating to the stock. Emerson Electric has a consensus rating of “Buy” and an average price target of $78.67.
In other Emerson Electric news, President Edward L. Monser sold 60,000 shares of the firm’s stock in a transaction on Monday, September 10th. The stock was sold at an average price of $76.10, for a total transaction of $4,566,000.00. Following the completion of the transaction, the president now owns 176,477 shares of the company’s stock, valued at $13,429,899.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, President Edward L. Monser sold 30,000 shares of the firm’s stock in a transaction on Friday, September 7th. The stock was sold at an average price of $75.84, for a total value of $2,275,200.00. Following the transaction, the president now directly owns 176,477 shares of the company’s stock, valued at approximately $13,384,015.68. The disclosure for this sale can be found here. Insiders have sold 96,409 shares of company stock valued at $7,317,004 in the last three months. 0.84% of the stock is currently owned by company insiders.
Emerson Electric Profile
Emerson Electric Co, a technology and engineering company, provides various solutions to industrial, commercial, and residential markets worldwide. The company's Automation Solutions segment offers software; measurement and analytical instrumentation; valves, actuators, and regulators; industry services and solutions; process control systems and solutions; and digital plant solutions.
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