Axa Reduces Stake in Emerson Electric Company (EMR)
Axa cut its position in Emerson Electric Company (NYSE:EMR) by 38.2% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 497,129 shares of the industrial products company’s stock after selling 307,082 shares during the quarter. Axa’s holdings in Emerson Electric were worth $31,240,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also recently modified their holdings of EMR. Tower Research Capital LLC TRC acquired a new position in Emerson Electric during the 2nd quarter worth $109,000. Intellectus Partners LLC grew its stake in Emerson Electric by 0.3% during the 2nd quarter. Intellectus Partners LLC now owns 2,094 shares of the industrial products company’s stock worth $125,000 after purchasing an additional 7 shares in the last quarter. Mountain Capital Investment Advisors Inc acquired a new position in Emerson Electric during the 2nd quarter worth $129,000. AT Bancorp acquired a new position in Emerson Electric during the 2nd quarter worth $139,000. Finally, Cable Hill Partners LLC acquired a new position in Emerson Electric during the 3rd quarter worth $151,000. 69.18% of the stock is owned by institutional investors and hedge funds.
In other news, VP Bell Katherine Button sold 7,909 shares of the business’s stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $64.78, for a total value of $512,345.02. Following the completion of the sale, the vice president now directly owns 44,628 shares of the company’s stock, valued at approximately $2,891,001.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Edgar M. Purvis, Jr. sold 9,490 shares of the business’s stock in a transaction dated Friday, December 8th. The shares were sold at an average price of $65.74, for a total value of $623,872.60. Following the completion of the sale, the chief operating officer now directly owns 168,984 shares of the company’s stock, valued at $11,109,008.16. The disclosure for this sale can be found here. Insiders have sold a total of 27,017 shares of company stock valued at $1,771,129 over the last ninety days. 0.84% of the stock is owned by company insiders.
Emerson Electric (NYSE:EMR) last announced its quarterly earnings results on Tuesday, November 7th. The industrial products company reported $0.83 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.83. The company had revenue of $4.44 billion during the quarter, compared to the consensus estimate of $4.43 billion. Emerson Electric had a return on equity of 20.47% and a net margin of 9.94%. Emerson Electric’s revenue for the quarter was up 12.8% on a year-over-year basis. During the same period in the previous year, the business earned $0.74 EPS. sell-side analysts predict that Emerson Electric Company will post 2.92 earnings per share for the current fiscal year.
EMR has been the subject of several analyst reports. Vertical Research raised Emerson Electric from a “hold” rating to a “buy” rating in a research note on Tuesday, January 2nd. Edward Jones cut Emerson Electric from a “buy” rating to a “hold” rating in a research note on Friday, November 17th. Cowen raised Emerson Electric to a “buy” rating and set a $71.00 target price for the company in a research note on Monday, October 23rd. Royal Bank of Canada reissued a “neutral” rating on shares of Emerson Electric in a research note on Thursday, November 9th. Finally, Citigroup reissued a “sell” rating and set a $61.00 target price (up from $58.00) on shares of Emerson Electric in a research note on Monday, October 9th. Three equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and five have assigned a buy rating to the stock. Emerson Electric has a consensus rating of “Hold” and an average target price of $65.86.
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Emerson Electric 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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