OLD Republic International Corp continued to hold its position in Emerson Electric Company (NYSE:EMR) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 705,500 shares of the industrial products company’s stock at the close of the 2nd quarter. Emerson Electric comprises about 1.4% of OLD Republic International Corp’s investment portfolio, making the stock its 24th biggest holding. OLD Republic International Corp owned about 0.11% of Emerson Electric worth $42,062,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also recently bought and sold shares of EMR. Oppenheimer Asset Management Inc. purchased a new stake in Emerson Electric during the first quarter valued at $127,000. AT Bancorp purchased a new stake in Emerson Electric during the second quarter valued at $139,000. Harbour Capital Advisors LLC purchased a new stake in Emerson Electric during the first quarter valued at $147,000. Guardian Life Insurance Co. of America increased its position in Emerson Electric by 1.1% during the first quarter. Guardian Life Insurance Co. of America now owns 2,491 shares of the industrial products company’s stock valued at $149,000 after acquiring an additional 28 shares during the last quarter. Finally, Perkins Coie Trust Co purchased a new stake in Emerson Electric during the second quarter valued at $150,000. Institutional investors own 70.01% of the company’s stock.
In related news, insider Robert T. Sharp sold 2,000 shares of Emerson Electric stock in a transaction dated Thursday, August 31st. The stock was sold at an average price of $58.99, for a total value of $117,980.00. Following the completion of the transaction, the insider now owns 64,290 shares in the company, valued at approximately $3,792,467.10. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.79% of the stock is owned by insiders.
EMR has been the subject of a number of research reports. Royal Bank Of Canada reiterated a “sector perform” rating and set a $62.00 price objective (up previously from $61.00) on shares of Emerson Electric in a research report on Wednesday, August 2nd. Berenberg Bank reiterated a “sell” rating and set a $53.00 price objective on shares of Emerson Electric in a research report on Friday, August 11th. JMP Securities initiated coverage on Emerson Electric in a research report on Monday, June 19th. They set an “outperform” rating and a $70.00 price objective for the company. Morgan Stanley reiterated an “overweight” rating on shares of Emerson Electric in a research report on Tuesday, July 11th. Finally, BidaskClub cut Emerson Electric from a “sell” rating to a “strong sell” rating in a research report on Friday, August 18th. Four investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and two have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $60.71.
Emerson Electric Company (EMR) opened at 63.43 on Thursday. The company has a market cap of $40.60 billion, a price-to-earnings ratio of 28.30 and a beta of 1.22. Emerson Electric Company has a 1-year low of $49.22 and a 1-year high of $64.36. The stock has a 50 day moving average price of $61.62 and a 200-day moving average price of $60.01.
Emerson Electric (NYSE:EMR) last announced its quarterly earnings results on Tuesday, August 1st. The industrial products company reported $0.68 earnings per share for the quarter, meeting the Thomson Reuters’ 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 during the quarter, compared to analyst estimates of $3.99 billion. During the same quarter in the previous year, the business earned $0.68 EPS. Emerson Electric’s revenue for the quarter was up 9.9% compared to the same quarter last year. On average, equities research analysts forecast that Emerson Electric Company will post $2.60 EPS for the current year.
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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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