Mirae Asset Global Investments Co. Ltd. Acquires 153,364 Shares of Emerson Electric Co. $EMR

Key Points

• Mirae Asset Global Investments initiated a position in Emerson Electric, purchasing 153,364 shares valued at approximately $23.8 million. Institutional investors collectively own 74.3% of the company.
• Emerson shares traded at $166.02, near their 52-week high, after the company reported quarterly earnings of $1.71 per share and revenue of $4.87 billion, exceeding analyst expectations.
• Analysts maintain a “Moderate Buy” consensus rating, with an average price target of $172.17; several firms recently raised targets into the $184–$186 range. CEO Surendralal Karsanbhai separately sold 9,650 shares.

Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Emerson Electric Co. (NYSE:EMR - Free Report) in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 153,364 shares of the industrial products company's stock, valued at approximately $23,787,000.

Several other large investors have also made changes to their positions in the company. ProShare Advisors LLC increased its stake in Emerson Electric by 5.7% during the third quarter. ProShare Advisors LLC now owns 1,269,934 shares of the industrial products company's stock worth $196,967,000 after acquiring an additional 68,976 shares during the last quarter. Vise Technologies Inc. lifted its stake in shares of Emerson Electric by 6.4% in the 3rd quarter. Vise Technologies Inc. now owns 74,228 shares of the industrial products company's stock valued at $11,513,000 after purchasing an additional 4,437 shares in the last quarter. Investment Partners LTD. acquired a new position in shares of Emerson Electric in the 3rd quarter valued at about $372,000. Cidel Asset Management Inc. increased its position in Emerson Electric by 1.6% during the 3rd quarter. Cidel Asset Management Inc. now owns 5,382 shares of the industrial products company's stock worth $835,000 after purchasing an additional 84 shares in the last quarter. Finally, Intrua Financial LLC raised its holdings in Emerson Electric by 2.8% in the third quarter. Intrua Financial LLC now owns 4,726 shares of the industrial products company's stock valued at $733,000 after buying an additional 129 shares during the period. 74.30% of the stock is owned by hedge funds and other institutional investors.

Emerson Electric Trading Up 0.7%

EMR opened at $166.02 on Tuesday. The firm's 50 day moving average is $157.23 and its 200-day moving average is $147.26. Emerson Electric Co. has a 52-week low of $122.64 and a 52-week high of $171.25. The company has a quick ratio of 0.66, a current ratio of 0.90 and a debt-to-equity ratio of 0.37. The firm has a market capitalization of $92.99 billion, a P/E ratio of 26.49, a P/E/G ratio of 2.33 and a beta of 1.21.

Emerson Electric (NYSE:EMR - Get Free Report) last announced its earnings results on Tuesday, August 4th. The industrial products company reported $1.71 earnings per share for the quarter, beating the consensus estimate of $1.68 by $0.03. The business had revenue of $4.87 billion during the quarter, compared to the consensus estimate of $4.80 billion. Emerson Electric had a net margin of 13.83% and a return on equity of 17.58%. The business's quarterly revenue was up .0% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.52 earnings per share. Analysts expect that Emerson Electric Co. will post 6.56 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Emerson Electric from $169.00 to $174.00 and gave the stock a "hold" rating in a research note on Wednesday, September 30th. JPMorgan Chase & Co. raised their target price on shares of Emerson Electric from $169.00 to $184.00 and gave the company an "overweight" rating in a research note on Friday, October 9th. BNP Paribas Exane lifted their target price on shares of Emerson Electric from $180.00 to $185.00 in a report on Thursday, August 6th. Wall Street Zen raised shares of Emerson Electric from a "hold" rating to a "buy" rating in a research report on Saturday, August 8th. Finally, Sanford C. Bernstein increased their price target on Emerson Electric from $169.00 to $186.00 and gave the company an "outperform" rating in a report on Friday, August 14th. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $172.17.

Insider Transactions at Emerson Electric

In related news, CEO Surendralal Karsanbhai sold 9,650 shares of Emerson Electric stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $161.91, for a total transaction of $1,562,431.50. Following the sale, the chief executive officer owned 271,743 shares of the company's stock, valued at $43,997,909.13. The trade was a 3.43% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.23% of the stock is owned by company insiders.

Emerson Electric Profile

Emerson Electric Co NYSE: EMR is a global technology and engineering company that provides automation, control, and industrial technology solutions. Its offerings include measurement and analytical instruments, control systems, valves, regulators, software, and related services used to improve the safety, efficiency, and reliability of industrial operations.

The company serves customers across industries such as energy, chemicals, life sciences, food and beverage, manufacturing, and commercial and residential applications.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.