First Command Financial Services Inc. grew its holdings in shares of Emerson Electric Co. (NYSE:EMR) by 70.2% in the 1st quarter, Holdings Channel reports. The firm owned 6,620 shares of the industrial products company’s stock after acquiring an additional 2,730 shares during the quarter. First Command Financial Services Inc.’s holdings in Emerson Electric were worth $454,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors have also made changes to their positions in the company. Vanguard Group Inc increased its holdings in Emerson Electric by 2.4% in the 3rd quarter. Vanguard Group Inc now owns 51,601,229 shares of the industrial products company’s stock worth $3,951,622,000 after acquiring an additional 1,214,362 shares during the last quarter. BlackRock Inc. increased its holdings in Emerson Electric by 5.9% in the 4th quarter. BlackRock Inc. now owns 42,076,883 shares of the industrial products company’s stock worth $2,514,093,000 after acquiring an additional 2,358,763 shares during the last quarter. Northern Trust Corp increased its holdings in Emerson Electric by 2.1% in the 4th quarter. Northern Trust Corp now owns 9,421,260 shares of the industrial products company’s stock worth $562,921,000 after acquiring an additional 192,698 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in Emerson Electric by 3,146,008.7% in the 3rd quarter. Bank of New York Mellon Corp now owns 9,375,404 shares of the industrial products company’s stock worth $717,967,000 after acquiring an additional 9,375,106 shares during the last quarter. Finally, Geode Capital Management LLC increased its holdings in Emerson Electric by 5.0% in the 4th quarter. Geode Capital Management LLC now owns 7,394,814 shares of the industrial products company’s stock worth $441,115,000 after acquiring an additional 355,369 shares during the last quarter. 72.63% of the stock is owned by hedge funds and other institutional investors.
Shares of NYSE EMR opened at $72.18 on Wednesday. Emerson Electric Co. has a 52 week low of $55.38 and a 52 week high of $79.70. The company has a quick ratio of 0.62, a current ratio of 0.88 and a debt-to-equity ratio of 0.32. The stock has a market capitalization of $44.13 billion, a price-to-earnings ratio of 21.36, a P/E/G ratio of 2.25 and a beta of 1.24.
EMR has been the subject of several recent research reports. Zacks Investment Research lowered Emerson Electric from a “buy” rating to a “hold” rating in a report on Tuesday, April 9th. Credit Suisse Group raised Emerson Electric from a “neutral” rating to an “outperform” rating and set a $59.60 price objective for the company in a report on Thursday, January 3rd. Citigroup raised Emerson Electric from a “sell” rating to a “neutral” rating and set a $66.00 price objective for the company in a report on Monday, January 14th. Wells Fargo & Co decreased their price objective on Emerson Electric from $77.00 to $69.00 and set a “market perform” rating for the company in a report on Wednesday, December 19th. They noted that the move was a valuation call. Finally, Royal Bank of Canada lowered Emerson Electric from an “outperform” rating to a “sector perform” rating and decreased their price objective for the stock from $68.00 to $61.00 in a report on Thursday, January 3rd. Nine equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $76.61.
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About Emerson Electric
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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