ZWJ Investment Counsel Inc. Has $240,000 Position in Emerson Electric Company (EMR)
ZWJ Investment Counsel Inc. maintained its stake in Emerson Electric Company (NYSE:EMR) during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,030 shares of the industrial products company’s stock at the end of the 2nd quarter. ZWJ Investment Counsel Inc.’s holdings in Emerson Electric were worth $240,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently modified their holdings of the company. Vanguard Group Inc. increased its stake in shares of Emerson Electric by 5.8% in the 1st quarter. Vanguard Group Inc. now owns 43,698,252 shares of the industrial products company’s stock worth $2,615,777,000 after acquiring an additional 2,404,844 shares during the last quarter. Morgan Dempsey Capital Management LLC increased its stake in shares of Emerson Electric by 5.4% in the 2nd quarter. Morgan Dempsey Capital Management LLC now owns 77,496 shares of the industrial products company’s stock worth $4,621,000 after acquiring an additional 3,985 shares during the last quarter. Bridgewater Associates LP acquired a new stake in shares of Emerson Electric in the 1st quarter worth $351,000. Richard C. Young & CO. LTD. increased its stake in shares of Emerson Electric by 28.9% in the 1st quarter. Richard C. Young & CO. LTD. now owns 30,166 shares of the industrial products company’s stock worth $1,806,000 after acquiring an additional 6,771 shares during the last quarter. Finally, TIAA CREF Investment Management LLC increased its stake in shares of Emerson Electric by 18.4% in the 1st quarter. TIAA CREF Investment Management LLC now owns 1,299,564 shares of the industrial products company’s stock worth $77,792,000 after acquiring an additional 201,677 shares during the last quarter. 70.03% of the stock is owned by institutional investors and hedge funds.
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In other Emerson Electric news, insider Robert T. Sharp sold 2,000 shares of the company’s stock in a transaction dated Thursday, August 31st. The stock was sold at an average price of $58.99, for a total transaction of $117,980.00. Following the completion of the sale, the insider now directly owns 64,290 shares in the company, valued at $3,792,467.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.79% of the company’s stock.
Emerson Electric Company (EMR) opened at 64.44 on Tuesday. The company’s 50-day moving average price is $62.04 and its 200-day moving average price is $60.08. Emerson Electric Company has a one year low of $49.38 and a one year high of $64.92. The stock has a market capitalization of $41.24 billion, a PE ratio of 28.76 and a beta of 1.21.
Emerson Electric (NYSE:EMR) last released its earnings results on Tuesday, August 1st. The industrial products company reported $0.68 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.68. The firm had revenue of $4.04 billion during the quarter, compared to analyst estimates of $3.99 billion. Emerson Electric had a return on equity of 22.32% and a net margin of 8.89%. The business’s quarterly revenue was up 9.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.68 earnings per share. Equities research analysts predict that Emerson Electric Company will post $2.60 EPS for the current year.
A number of analysts have issued reports on the company. Stifel Nicolaus reaffirmed a “buy” rating on shares of Emerson Electric in a research note on Thursday, October 12th. Citigroup Inc. reaffirmed a “sell” rating and issued a $61.00 target price (up from $58.00) on shares of Emerson Electric in a research note on Monday, October 9th. BidaskClub downgraded Emerson Electric from a “sell” rating to a “strong sell” rating in a research note on Friday, August 18th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $67.00 target price (up from $64.00) on shares of Emerson Electric in a research note on Monday, October 2nd. Finally, JMP Securities assumed coverage on Emerson Electric in a research note on Monday, June 19th. They issued an “outperform” rating and a $70.00 target price for the company. Four investment analysts have rated the stock with a sell rating, eleven have given a hold rating and two have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $60.71.
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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