Concert Wealth Management Inc. increased its stake in shares of Emerson Electric Co. (NYSE:EMR) by 50.7% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 16,160 shares of the company’s stock after buying an additional 5,435 shares during the period. Concert Wealth Management Inc.’s holdings in Emerson Electric were worth $845,000 as of its most recent filing with the SEC.
Other institutional investors also recently added to or reduced their stakes in the company. Arcadia Investment Management Corp MI boosted its position in Emerson Electric by 11.4% in the second quarter. Arcadia Investment Management Corp MI now owns 2,281 shares of the company’s stock valued at $119,000 after buying an additional 234 shares during the last quarter. Americafirst Capital Management LLC bought a new position in Emerson Electric during the second quarter valued at approximately $128,000. Integrated Investment Consultants LLC boosted its position in Emerson Electric by 99.5% in the second quarter. Integrated Investment Consultants LLC now owns 2,530 shares of the company’s stock valued at $132,000 after buying an additional 1,262 shares during the last quarter. Oakworth Capital Inc. boosted its position in Emerson Electric by 405.6% in the second quarter. Oakworth Capital Inc. now owns 2,705 shares of the company’s stock valued at $141,000 after buying an additional 2,170 shares during the last quarter. Finally, Badgley Phelps & Bell Inc. bought a new position in Emerson Electric during the first quarter valued at approximately $205,000. Hedge funds and other institutional investors own 69.40% of the company’s stock.
Emerson Electric Co. (NYSE:EMR) traded down 0.93% on Wednesday, reaching $50.32. 3,651,908 shares of the company’s stock were exchanged. The company has a market cap of $32.38 billion, a price-to-earnings ratio of 17.82 and a beta of 1.19. Emerson Electric Co. has a 52 week low of $41.25 and a 52 week high of $56.82. The stock’s 50 day moving average is $52.55 and its 200 day moving average is $53.36.
Emerson Electric (NYSE:EMR) last issued its quarterly earnings results on Tuesday, August 2nd. The company reported $0.80 EPS for the quarter, missing the Zacks’ consensus estimate of $0.84 by $0.04. Emerson Electric had a return on equity of 24.63% and a net margin of 8.96%. The company earned $5.10 billion during the quarter, compared to the consensus estimate of $5.34 billion. On average, equities analysts anticipate that Emerson Electric Co. will post $2.92 earnings per share for the current year.
EMR has been the subject of several research analyst reports. Credit Suisse Group AG reiterated a “buy” rating on shares of Emerson Electric in a research note on Sunday, July 10th. Stifel Nicolaus lowered their price target on shares of Emerson Electric from $60.00 to $58.00 and set a “buy” rating on the stock in a report on Wednesday, August 3rd. Barclays PLC reissued an “equal weight” rating and issued a $55.00 price target (down previously from $56.00) on shares of Emerson Electric in a report on Monday, July 18th. Oppenheimer Holdings Inc. reissued a “hold” rating on shares of Emerson Electric in a report on Wednesday, June 22nd. Finally, Deutsche Bank AG lowered their price target on shares of Emerson Electric from $55.00 to $50.00 and set a “hold” rating on the stock in a report on Monday, August 8th. Eight equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and four have assigned a buy rating to the stock. Emerson Electric currently has an average rating of “Hold” and an average target price of $51.91.
About Emerson Electric
Emerson Electric Co is engaged in offering technology and engineering together that provides solutions for customers in industrial, commercial, and consumer markets around the world. The company operates through five business segments: Process Management, Industrial Automation, Network Power, Climate Technologies, and Commercial & Residential Solutions.