Emerson Electric Co. $EMR Shares Sold by Eastern Bank

Key Points

• Eastern Bank reduced its Emerson Electric stake by 2% in the second quarter, selling 7,618 shares and retaining 374,375 shares valued at approximately $53.6 million. Institutional investors collectively own 74.3% of the company.
• Emerson shares opened at $154.95, up 3.4%, with the stock trading between $122.64 and $165.15 over the past year. The company recently reported quarterly EPS of $1.54, slightly above estimates, while revenue rose 2.9% year over year to $4.56 billion.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $162.36; 13 analysts rate the stock a Buy, 10 a Hold and one a Sell.

Eastern Bank trimmed its position in Emerson Electric Co. (NYSE:EMR - Free Report) by 2.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 374,375 shares of the industrial products company's stock after selling 7,618 shares during the quarter. Eastern Bank owned about 0.07% of Emerson Electric worth $53,592,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the company. Trust Co of the South acquired a new position in Emerson Electric in the 2nd quarter worth approximately $214,000. Ballast Advisors LLC acquired a new stake in Emerson Electric during the 1st quarter valued at approximately $93,000. Western Wealth Management LLC boosted its holdings in shares of Emerson Electric by 2.5% in the 1st quarter. Western Wealth Management LLC now owns 7,673 shares of the industrial products company's stock valued at $1,005,000 after acquiring an additional 188 shares during the last quarter. LFG Wealth Partners LLC increased its stake in shares of Emerson Electric by 2.0% in the first quarter. LFG Wealth Partners LLC now owns 11,189 shares of the industrial products company's stock worth $1,466,000 after acquiring an additional 222 shares during the period. Finally, Pine Valley Investments Ltd Liability Co increased its stake in shares of Emerson Electric by 118.8% in the first quarter. Pine Valley Investments Ltd Liability Co now owns 15,853 shares of the industrial products company's stock worth $2,077,000 after acquiring an additional 8,606 shares during the period. Hedge funds and other institutional investors own 74.30% of the company's stock.

Emerson Electric Trading Up 3.4%

Shares of EMR stock opened at $154.95 on Tuesday. Emerson Electric Co. has a 1-year low of $122.64 and a 1-year high of $165.15. The company has a market cap of $86.79 billion, a price-to-earnings ratio of 35.78, a PEG ratio of 2.26 and a beta of 1.25. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.87 and a quick ratio of 0.64. The stock has a 50 day simple moving average of $142.74 and a 200-day simple moving average of $142.29.

Emerson Electric (NYSE:EMR - Get Free Report) last released its quarterly earnings results on Tuesday, May 5th. The industrial products company reported $1.54 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.53 by $0.01. The firm had revenue of $4.56 billion for the quarter, compared to analysts' expectations of $4.59 billion. Emerson Electric had a net margin of 13.35% and a return on equity of 17.18%. The firm's revenue for the quarter was up 2.9% compared to the same quarter last year. During the same quarter last year, the company earned $1.48 EPS. On average, equities research analysts expect that Emerson Electric Co. will post 6.49 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on EMR. BMO Capital Markets boosted their target price on shares of Emerson Electric from $150.00 to $157.00 in a research report on Friday, May 8th. KeyCorp reduced their price objective on Emerson Electric from $185.00 to $170.00 and set an "overweight" rating for the company in a research note on Monday, July 13th. Weiss Ratings reissued a "hold (c+)" rating on shares of Emerson Electric in a report on Friday. Royal Bank Of Canada upped their target price on Emerson Electric from $161.00 to $169.00 and gave the stock an "outperform" rating in a research note on Wednesday, May 6th. Finally, Wolfe Research dropped their target price on Emerson Electric from $176.00 to $169.00 and set an "outperform" rating on the stock in a report on Wednesday, April 8th. Thirteen investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Emerson Electric has an average rating of "Moderate Buy" and a consensus target price of $162.36.

Emerson Electric Company Profile

Emerson Electric Co is a global technology and engineering company that designs and manufactures products and provides services for industrial, commercial and consumer markets. Founded in 1890, the company is headquartered in St. Louis, Missouri, and has built a long-standing presence in automation, control and climate-related technologies. Emerson's offerings are aimed at improving productivity, energy efficiency and reliability for a wide range of end markets.

Emerson operates through two principal platforms—Automation Solutions and Commercial & Residential Solutions—providing process automation systems, measurement and analytical instrumentation, valves and actuators, control software, and related aftermarket services, alongside products for heating, ventilation and refrigeration, residential and commercial climate controls, tools and storage solutions.

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