Emerson Electric Company (EMR) Shares Sold by First Heartland Consultants Inc.
First Heartland Consultants Inc. lessened its holdings in shares of Emerson Electric Company (NYSE:EMR) by 13.6% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 8,825 shares of the industrial products company’s stock after selling 1,395 shares during the period. First Heartland Consultants Inc.’s holdings in Emerson Electric were worth $555,000 at the end of the most recent reporting period.
Other hedge funds have also made changes to their positions in the company. Crossmark Global Holdings Inc. bought a new stake in shares of Emerson Electric during the third quarter worth $12,652,000. APG Asset Management N.V. grew its holdings in shares of Emerson Electric by 10.8% during the third quarter. APG Asset Management N.V. now owns 3,921,119 shares of the industrial products company’s stock worth $246,403,000 after purchasing an additional 383,300 shares during the last quarter. Fagan Associates Inc. grew its holdings in shares of Emerson Electric by 19.3% during the second quarter. Fagan Associates Inc. now owns 5,975 shares of the industrial products company’s stock worth $356,000 after purchasing an additional 968 shares during the last quarter. Pinnacle Wealth Management Advisory Group LLC grew its holdings in shares of Emerson Electric by 6.6% during the second quarter. Pinnacle Wealth Management Advisory Group LLC now owns 10,075 shares of the industrial products company’s stock worth $601,000 after purchasing an additional 620 shares during the last quarter. Finally, Andra AP fonden grew its holdings in shares of Emerson Electric by 5.2% during the second quarter. Andra AP fonden now owns 95,300 shares of the industrial products company’s stock worth $5,682,000 after purchasing an additional 4,700 shares during the last quarter. Institutional investors own 69.18% of the company’s stock.
In other Emerson Electric news, VP Bell Katherine Button sold 7,518 shares of the stock in a transaction dated Monday, December 11th. The stock was sold at an average price of $66.36, for a total value of $498,894.48. Following the transaction, the vice president now owns 36,877 shares of the company’s stock, valued at $2,447,157.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, COO Edgar M. Purvis, Jr. sold 9,490 shares of the 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 transaction, the chief operating officer now directly owns 168,984 shares in the company, valued at approximately $11,109,008.16. The disclosure for this sale can be found here. Insiders sold 27,017 shares of company stock worth $1,771,129 in the last three months. Insiders own 0.79% of the company’s stock.
Emerson Electric (NYSE:EMR) last issued its quarterly earnings results on Tuesday, November 7th. The industrial products company reported $0.83 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.83. Emerson Electric had a return on equity of 20.47% and a net margin of 9.94%. The business had revenue of $4.44 billion for the quarter, compared to analyst estimates of $4.43 billion. During the same quarter in the prior year, the firm posted $0.74 earnings per share. The firm’s revenue for the quarter was up 12.8% compared to the same quarter last year. analysts forecast that Emerson Electric Company will post 2.92 EPS for the current fiscal year.
EMR has been the topic of several research analyst reports. Morgan Stanley restated an “equal weight” rating and set a $67.00 target price (up previously from $64.00) on shares of Emerson Electric in a report on Monday, October 2nd. Citigroup restated a “sell” rating and set a $61.00 target price (up previously from $58.00) on shares of Emerson Electric in a report on Monday, October 9th. Stifel Nicolaus reaffirmed a “buy” rating on shares of Emerson Electric in a research note on Thursday, October 12th. Bank of America raised Emerson Electric from a “neutral” rating to a “buy” rating and upped their price target for the company from $64.44 to $79.00 in a research note on Tuesday, October 17th. Finally, Cowen raised Emerson Electric from a “market perform” rating to an “outperform” rating in a research note on Tuesday, October 17th. Three analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $65.86.
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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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