Calamos Wealth Management LLC lowered its stake in Emerson Electric Co. (NYSE:EMR) by 90.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,253 shares of the industrial products company’s stock after selling 70,951 shares during the period. Calamos Wealth Management LLC’s holdings in Emerson Electric were worth $553,000 at the end of the most recent quarter.
Several other institutional investors also recently modified their holdings of the stock. Gradient Investments LLC grew its holdings in Emerson Electric by 164.4% during the 3rd quarter. Gradient Investments LLC now owns 386 shares of the industrial products company’s stock worth $26,000 after acquiring an additional 240 shares during the period. Candriam Luxembourg S.C.A. grew its holdings in Emerson Electric by 12.8% during the 3rd quarter. Candriam Luxembourg S.C.A. now owns 382,028 shares of the industrial products company’s stock worth $26,000 after acquiring an additional 43,374 shares during the period. Ellevest Inc. grew its holdings in Emerson Electric by 110.0% during the 2nd quarter. Ellevest Inc. now owns 420 shares of the industrial products company’s stock worth $28,000 after acquiring an additional 220 shares during the period. Garrett Wealth Advisory Group LLC acquired a new stake in Emerson Electric during the 3rd quarter worth $31,000. Finally, Massey Quick Simon & CO. LLC grew its holdings in Emerson Electric by 1,823.1% during the 3rd quarter. Massey Quick Simon & CO. LLC now owns 500 shares of the industrial products company’s stock worth $33,000 after acquiring an additional 474 shares during the period. 70.55% of the stock is owned by institutional investors and hedge funds.
A number of analysts have commented on the stock. Stephens reaffirmed a “buy” rating and set a $86.00 target price on shares of Emerson Electric in a report on Monday, December 16th. Morgan Stanley lifted their target price on shares of Emerson Electric from $82.00 to $85.00 and gave the stock an “overweight” rating in a report on Wednesday, December 11th. Royal Bank of Canada raised shares of Emerson Electric from a “sector perform” rating to an “outperform” rating and lifted their target price for the stock from $65.00 to $77.00 in a report on Monday, September 30th. Cowen lowered shares of Emerson Electric from an “outperform” rating to a “market perform” rating and set a $72.00 target price for the company. in a report on Wednesday, November 6th. Finally, UBS Group assumed coverage on shares of Emerson Electric in a report on Thursday, December 12th. They set a “neutral” rating and a $78.00 target price for the company. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $76.25.
In related news, VP Sara Yang Bosco sold 10,969 shares of the business’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $73.55, for a total value of $806,769.95. Following the sale, the vice president now directly owns 88,817 shares of the company’s stock, valued at approximately $6,532,490.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Frank J. Dellaquila sold 40,817 shares of the business’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $73.73, for a total transaction of $3,009,437.41. Following the completion of the sale, the chief financial officer now directly owns 278,803 shares in the company, valued at $20,556,145.19. The disclosure for this sale can be found here. Insiders sold a total of 63,565 shares of company stock valued at $4,701,330 in the last three months. 0.50% of the stock is owned by company insiders.
Shares of EMR stock opened at $76.66 on Thursday. Emerson Electric Co. has a 12-month low of $55.98 and a 12-month high of $77.98. The firm has a market capitalization of $46.83 billion, a price-to-earnings ratio of 20.78, a price-to-earnings-growth ratio of 2.67 and a beta of 1.38. The company has a quick ratio of 0.88, a current ratio of 1.19 and a debt-to-equity ratio of 0.52. The firm has a fifty day moving average of $75.91 and a 200-day moving average of $68.23.
Emerson Electric (NYSE:EMR) last announced its quarterly earnings results on Tuesday, November 5th. The industrial products company reported $1.07 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.07. Emerson Electric had a net margin of 12.55% and a return on equity of 26.32%. The company had revenue of $4.97 billion during the quarter, compared to analyst estimates of $5.02 billion. During the same quarter in the previous year, the business earned $0.89 EPS. The firm’s revenue was up 1.7% on a year-over-year basis. Research analysts expect that Emerson Electric Co. will post 3.63 earnings per share for the current year.
Emerson Electric Company Profile
Emerson Electric Co, a technology and engineering company, provides various solutions to industrial, commercial, and consumer markets worldwide. The company's Automation Solutions segment offers products and integrated solutions, including measurement and analytical instrumentation; valves, actuators, and regulators; industrial solutions; and process control systems and solutions.
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