Legal & General Group Plc Has $207.04 Million Stake in Emerson Electric Company (EMR)
Legal & General Group Plc lifted its position in shares of Emerson Electric Company (NYSE:EMR) by 3.4% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,472,726 shares of the industrial products company’s stock after purchasing an additional 113,881 shares during the period. Legal & General Group Plc owned 0.54% of Emerson Electric worth $207,037,000 as of its most recent SEC filing.
Other institutional investors have also recently bought and sold shares of the company. Oppenheimer Asset Management Inc. purchased a new stake in shares of Emerson Electric during the first quarter worth about $127,000. AT Bancorp purchased a new stake in shares of Emerson Electric during the second quarter worth about $139,000. Harbour Capital Advisors LLC purchased a new stake in shares of Emerson Electric during the first quarter worth about $147,000. Guardian Life Insurance Co. of America boosted its holdings in shares of Emerson Electric by 1.1% during the first quarter. Guardian Life Insurance Co. of America now owns 2,491 shares of the industrial products company’s stock worth $149,000 after purchasing an additional 28 shares during the period. Finally, Perkins Coie Trust Co purchased a new stake in shares of Emerson Electric during the second quarter worth about $150,000. Institutional investors own 70.01% of the company’s stock.
EMR has been the subject of a number of analyst reports. JMP Securities initiated coverage on shares of Emerson Electric in a report on Monday, June 19th. They set an “outperform” rating and a $70.00 target price for the company. Stifel Nicolaus restated a “buy” rating and issued a $68.00 price objective on shares of Emerson Electric in a report on Wednesday, July 19th. Morgan Stanley restated an “overweight” rating on shares of Emerson Electric in a report on Tuesday, July 11th. Citigroup Inc. restated a “sell” rating and issued a $61.00 price objective (up from $58.00) on shares of Emerson Electric in a report on Monday, October 9th. Finally, BidaskClub lowered shares of Emerson Electric from a “hold” rating to a “sell” rating in a report on Friday, July 28th. Four investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and two have assigned a buy rating to the company’s stock. Emerson Electric currently has an average rating of “Hold” and an average target price of $60.71.
Emerson Electric Company (EMR) opened at 63.97 on Friday. The stock has a market capitalization of $40.94 billion, a price-to-earnings ratio of 28.55 and a beta of 1.22. Emerson Electric Company has a 12-month low of $49.38 and a 12-month high of $64.40. The stock’s 50 day moving average is $62.04 and its 200 day moving average is $60.08.
Emerson Electric (NYSE:EMR) last announced its quarterly earnings results on Tuesday, August 1st. The industrial products company reported $0.68 earnings per share for the quarter, hitting the consensus estimate of $0.68. Emerson Electric had a net margin of 8.89% and a return on equity of 22.32%. The firm had revenue of $4.04 billion during the quarter, compared to analysts’ expectations of $3.99 billion. During the same quarter in the prior year, the company earned $0.68 EPS. The company’s revenue was up 9.9% compared to the same quarter last year. Equities analysts predict that Emerson Electric Company will post $2.60 earnings per share for the current fiscal year.
In other news, insider Robert T. Sharp sold 2,000 shares of the company’s stock in a transaction that occurred on Thursday, August 31st. The shares were sold at an average price of $58.99, for a total value of $117,980.00. Following the completion of the sale, the insider now owns 64,290 shares of the company’s stock, valued at approximately $3,792,467.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.79% 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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