Victory Capital Management Inc. Acquires 16,004 Shares of Emerson Electric Company (EMR)
Victory Capital Management Inc. raised its holdings in shares of Emerson Electric Company (NYSE:EMR) by 14.2% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 128,824 shares of the industrial products company’s stock after acquiring an additional 16,004 shares during the quarter. Victory Capital Management Inc.’s holdings in Emerson Electric were worth $7,680,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also bought and sold shares of the company. Oppenheimer Asset Management Inc. purchased a new position in Emerson Electric during the 1st quarter valued at about $127,000. AT Bancorp acquired a new stake in shares of Emerson Electric during the 2nd quarter worth about $139,000. Harbour Capital Advisors LLC acquired a new stake in shares of Emerson Electric during the 1st quarter worth about $147,000. Guardian Life Insurance Co. of America boosted its stake in shares of Emerson Electric by 1.1% during the 1st 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 last quarter. Finally, Perkins Coie Trust Co acquired a new stake in shares of Emerson Electric during the 2nd quarter worth about $150,000. Hedge funds and other institutional investors own 70.03% of the company’s stock.
Shares of Emerson Electric Company (NYSE:EMR) opened at 65.78 on Friday. The firm’s 50-day moving average price is $62.90 and its 200 day moving average price is $60.28. The firm has a market cap of $42.10 billion, a P/E ratio of 29.35 and a beta of 1.22. Emerson Electric Company has a 12-month low of $49.38 and a 12-month high of $66.10.
Emerson Electric (NYSE:EMR) last issued its earnings results on Tuesday, August 1st. The industrial products company reported $0.68 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.68. Emerson Electric had a return on equity of 22.32% and a net margin of 8.89%. The firm had revenue of $4.04 billion for the quarter, compared to analysts’ expectations of $3.99 billion. During the same quarter last year, the business earned $0.68 earnings per share. The company’s revenue was up 9.9% compared to the same quarter last year. On average, equities analysts expect that Emerson Electric Company will post $2.61 earnings per share for the current fiscal year.
Several equities research analysts have issued reports on the stock. BidaskClub cut shares of Emerson Electric from a “sell” rating to a “strong sell” rating in a research note on Friday, August 18th. Royal Bank Of Canada reissued a “sector perform” rating and issued a $62.00 target price (up from $61.00) on shares of Emerson Electric in a research report on Wednesday, August 2nd. Zacks Investment Research cut shares of Emerson Electric from a “hold” rating to a “sell” rating in a research report on Tuesday, October 17th. Stifel Nicolaus reissued a “buy” rating on shares of Emerson Electric in a research report on Thursday, October 12th. Finally, Berenberg Bank reissued a “sell” rating and issued a $53.00 target price on shares of Emerson Electric in a research report on Friday, August 11th. Five investment analysts have rated the stock with a sell rating, nine have given a hold rating and four have assigned a buy rating to the company. Emerson Electric presently has an average rating of “Hold” and an average target price of $62.17.
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 transaction of $117,980.00. Following the sale, the insider now owns 64,290 shares of the company’s stock, valued at $3,792,467.10. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 0.79% of the company’s stock.
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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