Midwest Investment Management LLC Has $207,000 Stake in Emerson Electric Company (EMR)
Midwest Investment Management LLC maintained its position in shares of Emerson Electric Company (NYSE:EMR) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,477 shares of the industrial products company’s stock at the end of the 2nd quarter. Midwest Investment Management LLC’s holdings in Emerson Electric were worth $207,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors also recently added to or reduced their stakes in EMR. Vanguard Group Inc. lifted its position in Emerson Electric by 5.8% during the first quarter. Vanguard Group Inc. now owns 43,698,252 shares of the industrial products company’s stock valued at $2,615,777,000 after buying an additional 2,404,844 shares during the period. Bridgewater Associates LP purchased a new position in Emerson Electric during the first quarter valued at $351,000. Richard C. Young & CO. LTD. lifted its position in Emerson Electric by 28.9% during the first quarter. Richard C. Young & CO. LTD. now owns 30,166 shares of the industrial products company’s stock valued at $1,806,000 after buying an additional 6,771 shares during the period. TIAA CREF Investment Management LLC lifted its position in Emerson Electric by 18.4% during the first quarter. TIAA CREF Investment Management LLC now owns 1,299,564 shares of the industrial products company’s stock valued at $77,792,000 after buying an additional 201,677 shares during the period. Finally, Morgan Dempsey Capital Management LLC lifted its position in Emerson Electric by 5.4% during the second quarter. Morgan Dempsey Capital Management LLC now owns 77,496 shares of the industrial products company’s stock valued at $4,621,000 after buying an additional 3,985 shares during the period. Institutional investors and hedge funds own 70.03% of the company’s stock.
Several equities analysts have commented on EMR shares. Stifel Nicolaus reissued a “buy” rating on shares of Emerson Electric in a research report on Thursday. Morgan Stanley reissued an “equal weight” rating and set a $67.00 price objective (up previously from $64.00) on shares of Emerson Electric in a research report on Monday, October 2nd. JMP Securities started coverage on Emerson Electric in a research report on Monday, June 19th. They set an “outperform” rating and a $70.00 price objective for the company. Royal Bank Of Canada reissued a “sector perform” rating and set a $62.00 price objective (up previously from $61.00) on shares of Emerson Electric in a research report on Wednesday, August 2nd. Finally, Citigroup Inc. reissued a “sell” rating and set a $61.00 price objective (up previously from $58.00) on shares of Emerson Electric in a research report on Monday, October 9th. Four investment analysts have rated the stock with a sell rating, eleven have given a hold rating and two have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $60.71.
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In other news, insider Robert T. Sharp sold 2,000 shares of the firm’s stock in a transaction dated Thursday, August 31st. The stock was sold at an average price of $58.99, for a total value of $117,980.00. Following the completion of the transaction, the insider now directly owns 64,290 shares in the company, valued at $3,792,467.10. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.79% of the company’s stock.
Shares of Emerson Electric Company (EMR) opened at 63.97 on Monday. The company has a 50-day moving average price of $62.04 and a 200 day moving average price of $60.08. The company has a market capitalization of $40.94 billion, a P/E ratio of 28.55 and a beta of 1.21. Emerson Electric Company has a 12-month low of $49.38 and a 12-month high of $64.40.
Emerson Electric (NYSE:EMR) last released its quarterly earnings results on Tuesday, August 1st. The industrial products company reported $0.68 EPS for the quarter, meeting analysts’ consensus estimates of $0.68. Emerson Electric had a return on equity of 22.32% and a net margin of 8.89%. The company had revenue of $4.04 billion during the quarter, compared to analysts’ expectations of $3.99 billion. During the same period last year, the business posted $0.68 earnings per share. The firm’s revenue was up 9.9% compared to the same quarter last year. On average, equities analysts anticipate that Emerson Electric Company will post $2.60 earnings per share for the current fiscal year.
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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