Livforsakringsbolaget Skandia Omsesidigt decreased its holdings in shares of Emerson Electric Co. (NYSE:EMR) by 50.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,619 shares of the industrial products company’s stock after selling 5,700 shares during the period. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Emerson Electric were worth $430,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Bank of Montreal Can purchased a new position in shares of Emerson Electric during the 2nd quarter worth approximately $144,788,000. Millennium Management LLC grew its holdings in shares of Emerson Electric by 1,480.3% during the 2nd quarter. Millennium Management LLC now owns 1,156,665 shares of the industrial products company’s stock worth $79,972,000 after acquiring an additional 1,083,470 shares during the period. Cornerstone Wealth Management LLC grew its holdings in shares of Emerson Electric by 7,027.3% during the 2nd quarter. Cornerstone Wealth Management LLC now owns 935,604 shares of the industrial products company’s stock worth $13,472,000 after acquiring an additional 922,477 shares during the period. FMR LLC grew its holdings in shares of Emerson Electric by 22.2% during the 2nd quarter. FMR LLC now owns 3,430,748 shares of the industrial products company’s stock worth $237,202,000 after acquiring an additional 622,701 shares during the period. Finally, Calamos Advisors LLC purchased a new position in shares of Emerson Electric during the 2nd quarter worth approximately $41,536,000. 70.29% of the stock is owned by institutional investors and hedge funds.
Emerson Electric stock opened at $67.88 on Thursday. The company has a current ratio of 1.23, a quick ratio of 0.97 and a debt-to-equity ratio of 0.37. The company has a market capitalization of $42.62 billion, a P/E ratio of 25.71, a P/E/G ratio of 1.78 and a beta of 1.15. Emerson Electric Co. has a twelve month low of $57.47 and a twelve month high of $79.70.
A number of research analysts have weighed in on EMR shares. Zacks Investment Research downgraded Emerson Electric from a “buy” rating to a “hold” rating in a report on Friday, October 5th. Argus upped their target price on Emerson Electric from $81.00 to $83.00 and gave the stock a “buy” rating in a report on Tuesday, August 14th. Credit Suisse Group started coverage on Emerson Electric in a report on Friday, October 12th. They set a “neutral” rating and a $78.00 target price on the stock. Morgan Stanley started coverage on Emerson Electric in a report on Monday, August 20th. They set an “overweight” rating and a $85.00 target price on the stock. Finally, JPMorgan Chase & Co. upped their target price on Emerson Electric from $79.00 to $82.00 and gave the stock an “overweight” rating in a report on Friday, August 10th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and thirteen have given a buy rating to the company. Emerson Electric has a consensus rating of “Buy” and a consensus target price of $78.67.
In related news, President Edward L. Monser sold 30,000 shares of the company’s stock in a transaction that occurred 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 sale, the president now owns 176,477 shares in the company, valued at approximately $13,384,015.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Steven J. Pelch sold 6,409 shares of the company’s stock in a transaction that occurred on Tuesday, August 14th. The stock was sold at an average price of $74.24, for a total value of $475,804.16. The disclosure for this sale can be found here. Insiders sold a total of 96,409 shares of company stock worth $7,317,004 in the last 90 days. 0.79% of the stock is currently owned by company insiders.
About Emerson Electric
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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