Emerson Electric Company (NYSE:EMR) Stake Raised by AGF Investments Inc.
AGF Investments Inc. increased its stake in Emerson Electric Company (NYSE:EMR) by 8.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 173,807 shares of the industrial products company’s stock after buying an additional 13,611 shares during the period. AGF Investments Inc.’s holdings in Emerson Electric were worth $10,392,000 as of its most recent filing with the SEC.
Several other large investors also recently modified their holdings of the company. First Command Financial Services Inc. raised its stake in shares of Emerson Electric by 18.9% in the first quarter. First Command Financial Services Inc. now owns 1,935 shares of the industrial products company’s stock valued at $116,000 after buying an additional 307 shares during the last quarter. Central Bank & Trust Co. raised its stake in shares of Emerson Electric by 31.3% in the first quarter. Central Bank & Trust Co. now owns 2,100 shares of the industrial products company’s stock valued at $126,000 after buying an additional 500 shares during the last quarter. Ancora Advisors LLC bought a new stake in shares of Emerson Electric during the fourth quarter valued at approximately $158,000. Independent Advisor Alliance bought a new stake in shares of Emerson Electric during the fourth quarter valued at approximately $194,000. Finally, Congress Asset Management Co. MA bought a new stake in shares of Emerson Electric during the fourth quarter valued at approximately $201,000. Institutional investors own 68.87% of the company’s stock.
Emerson Electric Company (EMR) opened at 60.36 on Tuesday. Emerson Electric Company has a 52 week low of $49.22 and a 52 week high of $64.36. The company has a 50-day moving average of $59.24 and a 200 day moving average of $59.20. The firm has a market cap of $38.90 billion, a P/E ratio of 25.78 and a beta of 1.20.
Emerson Electric (NYSE:EMR) last released its quarterly earnings results on Tuesday, May 2nd. The industrial products company reported $0.58 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.58. Emerson Electric had a return on equity of 23.37% and a net margin of 8.72%. The business had revenue of $3.57 billion during the quarter, compared to analyst estimates of $3.49 billion. During the same quarter last year, the company posted $0.57 EPS. Emerson Electric’s revenue for the quarter was down .1% on a year-over-year basis. On average, equities analysts predict that Emerson Electric Company will post $2.60 earnings per share for the current year.
Several brokerages have commented on EMR. BidaskClub lowered shares of Emerson Electric from a “hold” rating to a “sell” rating in a research report on Friday, June 9th. Cowen and Company restated a “hold” rating and set a $62.00 target price on shares of Emerson Electric in a research report on Tuesday, May 2nd. Stifel Nicolaus restated a “buy” rating and set a $67.00 target price (up from $65.00) on shares of Emerson Electric in a research report on Monday, May 15th. Royal Bank Of Canada restated a “hold” rating and set a $58.00 target price on shares of Emerson Electric in a research report on Tuesday, April 11th. Finally, Morgan Stanley restated an “overweight” rating on shares of Emerson Electric in a research report on Tuesday, July 11th. Three analysts have rated the stock with a sell rating, fifteen have issued a hold rating and three have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $56.64.
About Emerson Electric
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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